Comparison between Justo Realfintech IPO and Twinkle Papers IPO.
Justo Realfintech IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Twinkle Papers IPO is a SME Bookbuilding proposed to list at BSE SME.
| Justo Realfintech IPO | Twinkle Papers 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. | Novus Capital Advisors Private Limited |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. | Alankit Assignments Ltd. |
| Market Maker | Rikhav Securities Ltd. | |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | |
| Anchor Investor | Anchor Investor | |
| 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 Twinkle Papers IPO is up to ₹0.00 Cr. The final issue price of Justo Realfintech IPO is ₹127.00 per share and of Twinkle Papers IPO is .
| Justo Realfintech IPO | Twinkle Papers IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹120.00 per share | |
| Issue Price (Upper) | ₹127.00 per share | |
| Issue Price (Final) | ₹127.00 per share | |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | |
| Fresh Issue Size | 47,10,000 shares | 39,88,000 shares |
| Fresh Issue Size (Amount) | up to ₹59.82 Cr | up to ₹0.00 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 47,10,000 shares | 39,88,000 shares |
| Issue Size Total (Amount) | up to ₹59.82 Cr | up to ₹0.00 Cr |
Justo Realfintech IPO opens on Sep 24, 2025, while Twinkle Papers IPO opens on . The closing date of Justo Realfintech IPO and Twinkle Papers IPO is Sep 26, 2025, and , respectively.
| Justo Realfintech IPO | Twinkle Papers IPO | |
|---|---|---|
| Anchor Bid Date | Sep 23, 2025 | |
| Issue Open | Sep 24, 2025 | |
| Issue Close | Sep 26, 2025 | |
| Basis Of Allotment (Tentative) | Sep 29, 2025 | |
| Initiation of Refunds (Tentative) | Sep 30, 2025 | |
| Credit of Share (Tentative) | Sep 30, 2025 | |
| Listing date (Tentative) | Oct 01, 2025 | |
| Anchor Lockin End date 1 | Oct 28, 2025 | |
| Anchor Lockin End date 2 | Dec 27, 2025 |
Justo Realfintech IPO P/E ratio is 11.55, as compared to Twinkle Papers IPO P/E ratio of .
| Justo Realfintech IPO | Twinkle Papers 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 Consolidated)
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 51.87 | 98.99 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 38.18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 11.55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹238.74 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 38.84% | 22.66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 44.18% | 22.37% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.32 | 2.09 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹10.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 38.84% | 22.66% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Justo Realfintech IPO Retail Individual Investors (RII) are offered 16,50,000 shares while in Twinkle Papers IPO retail investors are offered 16,50,000 shares. Qualified Institutional Buyers (QIB) are offered 9,42,000 shares in Justo Realfintech IPO and 0 shares in Twinkle Papers IPO.
| Justo Realfintech IPO | Twinkle Papers IPO | |
|---|---|---|
| Anchor Investor Reservation | 14,10,000 shares | 0 shares |
| Market Maker Reservation | 2,51,000 shares | 0 shares |
| QIB | 9,42,000 shares | 0 shares |
| NII | 7,08,000 shares | 0 shares |
| RII | 16,50,000 shares | 0 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 47,10,000 shares | 0 shares |
Justo Realfintech IPO subscribed 4.57x in total, whereas Twinkle Papers IPO subscribed .
| Justo Realfintech IPO | Twinkle Papers IPO | |
|---|---|---|
| QIB (times) | 7.21x | |
| NII (times) | 6.81x | |
| Big NII (times) | 8.54x | |
| Small NII (times) | 3.38x | |
| RII (times) | 2.10x | |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 4.57x |
