Justo Realfintech Limited
Bookbuilding IPO · BSE
- Price band
- ₹120 - ₹127
- Lot size
- 1,000 shares
- Issue amount
- ₹63 cr
- Total subscription
- 4.65×
- Opens
- 24 Sept 2025
- Closes
- 26 Sept 2025
- Allotment
- 29 Sept 2025
- Listing
- 1 Oct 2025
Offer at a glance
Issue overview
- Issue size
- 49,61,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,20,000
- Fresh issue
- ₹63 cr
- Offer for sale
- ₹0 cr
- Registrar
- Purva Sharegistry (India) Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,27,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,38,37,142
- Shares after issue
- 1,87,98,142
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 2,000 | ₹2,54,000 |
| sHNI | 3 | 3,000 | ₹3,81,000 |
| bHNI | 8 | 8,000 | ₹10,16,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 26 Sept 2025
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 16 |
| NIB | 0 | 633 |
| RETAIL | 825 | 1,733 |
| HNIs(10L +) | 157 | 384 |
| HNIs (2-10L) | 79 | 249 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 11.96 | 86.3 |
| FIIs | 0 | 1.02 |
| Others | 0 | 80.33 |
| RETAIL | 20.95 | 44.02 |
| HNIs 2+ | 3.01 | 10.17 |
| HNIs 10+ | 5.98 | 54.27 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 11.54 | 5.48 | 12.53 |
| ROE | 38.84 | 28.35 | 120.64 |
| ROCE | 44.18 | 34.31 | 136.48 |
| RONW | 38.84 | 28.35 | 120.64 |
| PRE IPO(PE) | 11.55 | 0 | 0 |
| POST IPO(PE) | 15.69 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Justo Realfintech, incorporated in 2019, is a real estate solutions provider that focuses on sales, marketing, funding, and project planning for mid-ticket residential developments. The company has supported developers in selling projects worth ₹8,15,000 lakhs (₹81,500 crore), covering more than 11,250 units up to March 31, 2025. As of August 2025, it is managing 37 active real estate projects across Pune, Mumbai, and Nashik, with its earlier operations spread across Mumbai, Navi Mumbai, Pune, Bhubaneshwar, Kolhapur, Aurangabad, and Nashik. In the coming two years, the company aims to achieve a sales portfolio of 8.5 million square feet and expand into Hyderabad, Bengaluru, Andhra Pradesh, Karnataka, Tamil Nadu, and Dubai. Its business model is built around launch projects that handle end-to-end sales and marketing, sustenance projects that maintain sales momentum, a wide channel partner network of brokers, and a custom-built technology platform for smooth operations. The IPO proceeds are planned to be used for working capital requirements of ₹36.50 crore, investment of ₹6.30 crore in IT infrastructure and platform development, repayment of borrowings worth ₹5.00 crore, and for general corporate purposes.
Strengths
- Proven Sales Track Record – Achieved ₹81,500 Cr. project sales and delivered 11,250+ units within just 6 years of operations.
- Tech-Enabled & Scalable Network – Strong channel partner base supported by a technology-driven model ensures efficiency and rapid market penetration.
- Expanding Market Footprint – Established presence across multiple cities with aggressive plans to enter Tier-1 Indian markets and international expansion into Dubai.
Risk factors
- Regulatory Non-Compliance Risk – Non-adherence to Sections 42(4) & 42(6) of the Companies Act, with the RoC compounding application still under review, may lead to penalties or restrictions.
- Receivables & Cash Flow Risk – Delayed payments or defaults from clients could disrupt cash flows and reduce profitability.
- Revenue Concentration Risk – Heavy reliance on a few major clients; losing any key customer could significantly impact financial stability and growth.
Promoters
Puspamitra Das
Registrar & documents
Lead manager
Vivro Financial Services Private Limited
Registrar & contacts
Purva Sharegistry (India) Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
801/802, 8th Floor, EL Tara Building, Powai, Off. Orchard Avenue, Hiranandani Gardens, Mumbai, Maharashtra, 400076
+91-22 3513 4314
[email protected]Company website ↗Understanding JUSTO IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.