Bookbuilding IPO | ₹63 Cr | Listed at BSE SME | Wed, Sep 24, 2025 - Fri, Sep 26, 2025
Justo Realfintech IPO is a book build issue of ₹63.00 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹63.00 crore.
Justo Realfintech IPO bidding started from Sep 24, 2025 and ended on Sep 26, 2025. The allotment for Justo Realfintech IPO was finalized on Sep 29, 2025. The shares got listed on BSE SME on Oct 1, 2025.
Justo Realfintech IPO price band is set at ₹127 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,54,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹3,81,000.
Vivro Financial Services Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Justo Realfintech IPO RHP for detailed Information.
IPO Open
Wed, Sep 24, 2025
IPO Close
Fri, Sep 26, 2025
Issue Price
₹127 per share
Market Cap (Pre-IPO)
₹238.74 Cr
| IPO Date | 24 to 26 Sep, 2025 |
| Listed on | Wed, Oct 1, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹120 to ₹127 |
| Issue Price | ₹127 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 49,61,000 shares (agg. up to ₹63 Cr) |
| Reserved for Market Maker | 2,51,000 shares Rikhav Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 47,10,000 shares (agg. up to ₹60 Cr) |
| Net Offered to Public | 47,10,000 shares (agg. up to ₹60 Cr) |
| Share Holding Pre Issue | 1,38,37,142 shares |
| Share Holding Post Issue | 1,87,98,142 shares |
| BSE Script Code | 544542 |
| ISIN | INE0W5Q01017 |
Justo Realfintech IPO comprises a total issue size of 49,61,000 shares. The net offer to the public is 47,10,000 shares, after excluding 2,51,000 shares allotted on a firm basis. Of the Net offer 23,52,000 (49.94%) are allocated to QIB, 7,08,000 (15.03%) allocated to NII 16,50,000 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 23,52,000 | 49.94% | 47.41% |
| − Anchor Investor Shares Offered | 14,10,000 | 28.42% | |
| − QIB (Ex. Anchor) Shares Offered | 9,42,000 | 18.99% | |
| NII (HNI) Shares Offered | 7,08,000 | 15.03% | 14.27% |
| − bNII > ₹10L | 4,71,000 | 9.49% | |
| − sNII < ₹10L | 2,37,000 | 4.78% | |
| Retail Shares Offered | 16,50,000 | 35.03% | 33.26% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,51,000 | 5.06% | |
| Total Shares Offered | 49,61,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,54,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,54,000 |
| S-HNI (Min) | 3 | 3,000 | ₹3,81,000 |
| S-HNI (Max) | 7 | 7,000 | ₹8,89,000 |
| B-HNI (Min) | 8 | 8,000 | ₹10,16,000 |
Justo Realfintech IPO raises ₹17.91 crore from anchor investors. Justo Realfintech IPO Anchor bid date is September 23, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 23, 2025 |
| Shares Offered | 14,10,000 |
| Anchor Portion (₹ Cr.) | 17.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Oct 28, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Dec 27, 2025 |
Incorporated in 2019, Justo Realfintech Limited is a full-service real estate mandate company. The company is based in Maharashtra, with operations in Pune, Mumbai Metropolitan Region (“MMR”), and Nashik, with additional presence in Aurangabad and Kolhapur.
The company’s business model is built around offering a wide range of services such as advisory, sales strategy, marketing, CRM, and financing solutions. It manages the complete customer journey in real estate purchases — from the first inquiry to the final transaction — allowing developers to focus on approvals and property development.
Since its incorporation, the company has helped real estate developers sell projects worth over Rs 8,15,000 lakhs, covering more than 11,250 units as of March 31, 2025. As of August 31, 2025, it holds active mandates for 37 real estate projects in Pune, Mumbai, and Nashik.
As of August 31, 2025, the company had a total of 331 employees across various departments.
Competitive Strengths:
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.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 76.28 | 41.77 | 32.62 |
| Total Income | 81.64 | 59.45 | 70.55 |
| Profit After Tax | 15.21 | 6.69 | 15.30 |
| EBITDA | 21.49 | 9.47 | 22.00 |
| NET Worth | 51.40 | 26.92 | 20.31 |
| Reserves and Surplus | 38.57 | 26.93 | 20.23 |
| Total Borrowing | 16.23 | 2.31 | 3.61 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Utilization towards working capital requirements of the Company | 36.50 |
| 2 | Funding investment in IT infrastructure and development of technological platform | 6.30 |
| 3 | Repayment of a portion of certain outstanding borrowings availed by the Company | 5.00 |
| 4 | General Corporate Purposes | 8.34 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 38.84% |
| ROCE | 44.18% |
| Debt/Equity | 0.32 |
| RoNW | 38.84% |
| PAT Margin | 18.63% |
| EBITDA Margin | 26.33% |
| Price to Book Value | 3.42 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.99 | 8.09 |
| P/E (x) | 11.55 | 15.69 |
| Promoter Holding | 51.87% | 38.18% |
| Market Cap | ₹238.74 Cr. |
The Justo Realfintech IPO is subscribed 4.57 times on September 26, 2025 5:04:38 PM (Day 3). The public issue subscribed 2.10 times in the individual investors category, 7.21 times in the QIB category, and 6.81 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 7.21 | 9,42,000 | 67,95,000 | 0 |
| NII* | 6.81 | 7,08,000 | 48,23,000 | 0 |
| bNII (bids above ₹10L) | 8.54 | 4,71,000 | 40,22,000 | |
| sNII (bids below ₹10L) | 3.38 | 2,37,000 | 8,01,000 | |
| Individual Investor | 2.10 | 16,50,000 | 34,66,000 | 0 |
| Total | 4.57 | 33,00,000 | 1,50,84,000 | 2,390 |
Total Application : 2,390
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to BRLM and commission (including selling commission, brokerage and underwriting commission) | 5.31 |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Issue and bidding/uploading charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.01 |
| 3 | Fees payable to the Registrar to the Issue | 0.01 |
| 4 | Listing fees, SEBI filing fees, BSE processing fees and other regulatory expenses | 0.14 |
| 5 | Printing and stationery expenses | 0.02 |
| 6 | Advertising and marketing expenses | 0.26 |
| 7 | Fees payable to legal counsel | 0.13 |
| 8 | Miscellaneous (including fees payable to auditors, consultants, market research firms and other professional agencies) | 0.99 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹127.00 |
| Open | ₹126.90 |
| Low | ₹121.10 |
| High | ₹127.00 |
| Last Trade | ₹126.75 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Justo Realfintech IPO is a SME IPO of 49,61,000 equity shares of the face value of ₹10 aggregating up to ₹63 Crores. The issue is priced at ₹127 per share. The minimum order quantity is 1000.
The IPO opens on Wed, Sep 24, 2025, and closes on Fri, Sep 26, 2025.
Purva Sharegistry (India) Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Justo Realfintech IPO using UPI as a payment gateway. Zerodha customers can apply in Justo Realfintech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Justo Realfintech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Justo Realfintech IPO opens on Wed, Sep 24, 2025 and closes on Fri, Sep 26, 2025.
Justo Realfintech IPO lot size is 1000, and the minimum amount required for application is ₹2,54,000, with 2 lots being the minimum application size.
You can apply in Justo Realfintech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Justo Realfintech IPO will be done on Monday, September 29, 2025, and the allotted shares will be credited to your demat account by Tue, Sep 30, 2025. Check the Justo Realfintech IPO allotment status.
The Justo Realfintech IPO listing date is on Wed, Oct 1, 2025.
