Comparison between Justo Realfintech IPO and True Colors IPO.
Justo Realfintech IPO is a SME Bookbuilding IPO proposed to list at BSE SME while True Colors IPO is a SME Bookbuilding proposed to list at BSE SME.
| Justo Realfintech IPO | True Colors IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | BSE SME |
| Lead Managers | Vivro Financial Services Pvt.Ltd. | GYR Capital Advisors Pvt.Ltd. |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. | Bigshare Services Pvt.Ltd. |
| Market Maker | Rikhav Securities Ltd. | Giriraj Stock Broking Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Justo Realfintech IPO is up to ₹59.82 Cr whereas the issue size of the True Colors IPO is up to ₹121.54 Cr. The final issue price of Justo Realfintech IPO is ₹127.00 per share and of True Colors IPO is ₹191.00 per share.
| Justo Realfintech IPO | True Colors IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹120.00 per share | ₹181.00 per share |
| Issue Price (Upper) | ₹127.00 per share | ₹191.00 per share |
| Issue Price (Final) | ₹127.00 per share | ₹191.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 600 shares |
| Fresh Issue Size | 47,10,000 shares | 53,63,600 shares |
| Fresh Issue Size (Amount) | up to ₹59.82 Cr | up to ₹102.44 Cr |
| OFS Issue Size | 0 shares | 10,00,000 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹19.10 Cr |
| Issue Size Total | 47,10,000 shares | 63,63,600 shares |
| Issue Size Total (Amount) | up to ₹59.82 Cr | up to ₹121.54 Cr |
Justo Realfintech IPO opens on Sep 24, 2025, while True Colors IPO opens on Sep 23, 2025. The closing date of Justo Realfintech IPO and True Colors IPO is Sep 26, 2025, and Sep 25, 2025, respectively.
| Justo Realfintech IPO | True Colors IPO | |
|---|---|---|
| Anchor Bid Date | Sep 23, 2025 | Sep 22, 2025 |
| Issue Open | Sep 24, 2025 | Sep 23, 2025 |
| Issue Close | Sep 26, 2025 | Sep 25, 2025 |
| Basis Of Allotment (Tentative) | Sep 29, 2025 | Sep 26, 2025 |
| Initiation of Refunds (Tentative) | Sep 30, 2025 | Sep 29, 2025 |
| Credit of Share (Tentative) | Sep 30, 2025 | Sep 29, 2025 |
| Listing date (Tentative) | Oct 01, 2025 | Sep 30, 2025 |
| Anchor Lockin End date 1 | Oct 28, 2025 | Oct 25, 2025 |
| Anchor Lockin End date 2 | Dec 27, 2025 | Dec 24, 2025 |
Justo Realfintech IPO P/E ratio is 11.55, as compared to True Colors IPO P/E ratio of 14.66.
| Justo Realfintech IPO | True Colors IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)Justo Realfintech Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 127% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated)True Colors Ltd.'s revenue increased by 45% and profit after tax (PAT) rose by 199% between the financial year ending with March 31, 2025 and March 31, 2024.
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 51.87 | 94.87 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 38.18 | 68.88 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.55 | 14.66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹238.74 Cr. | ₹470.90 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 38.84% | 70.49% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 44.18% | 35.94% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.32 | 0.86 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹10.99 | ₹13.03 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 38.84% | 44.53% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Justo Realfintech IPO Retail Individual Investors (RII) are offered 16,50,000 shares while in True Colors IPO retail investors are offered 16,50,000 shares. Qualified Institutional Buyers (QIB) are offered 9,42,000 shares in Justo Realfintech IPO and 12,70,800 shares in True Colors IPO.
| Justo Realfintech IPO | True Colors IPO | |
|---|---|---|
| Anchor Investor Reservation | 14,10,000 shares | 19,05,600 shares |
| Market Maker Reservation | 2,51,000 shares | 3,36,000 shares |
| QIB | 9,42,000 shares | 12,70,800 shares |
| NII | 7,08,000 shares | 9,57,600 shares |
| RII | 16,50,000 shares | 22,29,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 47,10,000 shares | 63,63,600 shares |
Justo Realfintech IPO subscribed 4.57x in total, whereas True Colors IPO subscribed 45.46x.
| Justo Realfintech IPO | True Colors IPO | |
|---|---|---|
| QIB (times) | 7.21x | 43.41x |
| NII (times) | 6.81x | 50.58x |
| Big NII (times) | 8.54x | 55.05x |
| Small NII (times) | 3.38x | 41.65x |
| RII (times) | 2.10x | 44.42x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 4.57x | 45.46x |
