IPO Details
Bidding Dates
24 Sep '25 - 26 Sep '25
Minimum Investment
₹2,54,000/ 2 Lots (2,000 shares)
Price Range
₹120 – ₹127
Maximum Investment
₹2,54,000/ 2 Lots (2,000 shares)
Retail Discount
To be announced
Issue Size
₹63.00 Cr
Investor category and sub category
Retail Individual Investors (RII) | Non-institutional Investors (NII) | Qualified Institutional Buyers (QIB) |Justo Realfintech IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 24, 25
IPO Closing Date
Sep 26, 25
Basis of Allotment
Sep 29, 25
Initiation of Refunds
Sep 30, 25
IPO Listing Date
Oct 01, 25
About Justo Realfintech IPO
Justo Realfintech IPO is a book-built issue with a total size of ₹63.00 crore, entirely comprising a fresh issue of 49.61 lakh equity shares. The IPO aims to fund the company’s working capital needs, IT infrastructure development, partial debt repayment, and general corporate purposes.
The IPO opens for subscription on September 24, 2025, and will close on September 26, 2025. The basis of allotment is expected to be finalised on September 29, 2025, with refunds and credit to Demat on September 30, 2025. The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of October 1, 2025.
The price band has been set at ₹120 to ₹127 per share, offering investors a choice of entry points. The minimum application size is 2,000 shares (2 lots), requiring a minimum investment of ₹2,54,000 at the upper band. For sHNI investors, the minimum lot size is 3 lots (3,000 shares) amounting to ₹3,81,000, while for bHNI investors, it is 8 lots (8,000 shares) amounting to ₹10,16,000.
Vivro Financial Services Pvt. Ltd. is acting as the book running lead manager, while Purva Sharegistry (India) Pvt. Ltd. has been appointed as the registrar to the issue. Rikhav Securities Ltd. will act as the market maker.
Justo Realfintech IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The company intends to allocate a significant portion of the net proceeds, around ₹36.50 crore, towards meeting its working capital requirements.
- A part of the funds, approximately ₹6.30 crore, will be utilised for investment in IT infrastructure and the development of its proprietary technology platform, aimed at enhancing operational efficiency, streamlining processes, and improving customer experience across its service offerings.
- The company also proposes to use about ₹5.00 crore from the proceeds for the repayment or prepayment of certain outstanding borrowings, thereby reducing its debt burden and strengthening the balance sheet.
- Another objective is to allocate a portion of the funds towards general corporate purposes, which may include brand building, marketing, business expansion, strategic initiatives, and other related expenses that can support long-term growth.
- Overall, the IPO proceeds are structured to strengthen the company’s financial position, improve liquidity, and provide the flexibility to pursue growth opportunities in the real estate mandate and advisory business, positioning Justo Realfintech as a stronger and more competitive player in its sector.
About Justo Realfintech Limited
Justo Realfintech Limited, incorporated in 2019, is a full-service real estate mandate company based in Maharashtra, with operations in Pune, Mumbai Metropolitan Region, and Nashik, and additional presence in Aurangabad and Kolhapur.
The company provides a wide range of services including advisory, sales strategy, marketing, CRM, and financing solutions, managing the entire customer journey from the first inquiry to the final transaction. This allows real estate developers to focus on project approvals and property development.
Since its inception, Justo Realfintech has helped developers sell projects worth over ₹8,15,000 lakhs, covering more than 11,250 units as of March 31, 2025, and currently holds active mandates for 37 projects in Pune, Mumbai, and Nashik. The company employs 331 people across various departments. Its key strengths include a strong network of Channel Partners, a technology-driven platform that improves efficiency, expertise in marketing and sales, and an experienced leadership team capable of executing strategies effectively.
Industry Outlook
- The global real estate market has shown resilience, supported by easing inflation, urbanisation, and technological innovation.
- India continues to demonstrate strong economic growth, with a GDP growth of 8.15% in FY23-24 and a projected 6.4% in FY24-25.
- The Indian real estate sector contributes around 6.8% of GDP, with a total market value of approximately ₹20.09 trillion in 2024. Residential properties dominate (82% of the market), including apartments, independent houses, and resale properties, while commercial real estate accounts for 18%.
- Economic expansion, rising GDP, and employment growth are boosting demand for housing and commercial spaces.
- Increased foreign investment, affordability post-COVID, and proactive government policies are creating opportunities for developers, particularly in affordable and mid-income housing for first-time buyers and working professionals.
How To Apply for the Justo Realfintech IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Justo Realfintech IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Justo Realfintech IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Justo Realfintech Limited
Registered office: 801/802,
8th Floor, EL Tara Building, Powai,
Off. Orchard Avenue, Hiranandani Gardens,
Mumbai, Maharashtra, 400076
Phone: +91-22 3513 4314
Email: cs@justo.co.in
Justo Realfintech IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 50% of the Net Issue |
|
Retail Shares Offered |
Not less than 35% of the Net Issue |
|
NII Shares Offered |
Not less than 15% of the Net Issue |
Justo Realfintech IPO Lot Size Details
|
Application Category |
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 Promoter Holding
The promoter of Justo Realfintech Limited is Puspamitra Das.
|
Share Holding Pre-Issue |
51.87% |
|
Share Holding Post Issue |
NA |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Justo Realfintech IPO Anchor Investors Details
|
Bid Date |
September 24, 2025 |
|
Shares Offered |
Shares will be disclosed after allocation |
|
Anchor Portion Size (In ₹ Cr.) |
NA |
|
Anchor lock-in period end date for 50% shares (30 Days) |
October 29, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
28, 2025 |
Key Performance Indicators for Justo Realfintech IPO
|
KPI |
Values |
|
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 |
Justo Realfintech IPO Prospectus
Justo Realfintech IPO Registrar and Lead Managers
Justo Realfintech IPO Lead Managers
- Vivro Financial Services Pvt.Ltd.
Registrar for Justo Realfintech IPO
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
Financial Performance of Justo Realfintech Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Assets (₹ in crore) | 76.28 | 41.77 | 32.62 |
| Total Income (₹ in crore) | 81.64 | 59.45 | 70.55 |
| Profit After Tax (₹ in crore) | 15.21 | 6.69 | 15.30 |
| EBITDA (₹ in crore) | 21.49 | 9.47 | 22.00 |
| NET Worth (₹ in crore) | 51.40 | 26.92 | 20.31 |
| Reserves and Surplus (₹ in crore) | 38.57 | 26.93 | 20.23 |
| Total Borrowing (₹ in crore) | 16.23 | 2.31 | 3.61 |
Know before investing
Strengths
6-
Justo has built a wide network of over 3,400 channel partners who act as the main link between the company and potential buyers, helping generate leads and provide local market insights.
-
The company maintains direct and personalised relationships with channel partners through a dedicated sourcing team, fostering long-term collaboration and loyalty.
-
JustoVerse and JustoWorks are custom-built platforms that streamline operations. JustoVerse manages CP workflow, lead tracking, and commission automation, while JustoWorks handles internal operations like project onboarding, CRM, invoicing, and accounting.
-
Justo has a proven track record in designing tailored strategies for developers, including project pricing, sizing, and inventory delivery, resulting in successful project outcomes and repeat business.
-
Streamlined processes and well-defined workflows ensure timely project execution, optimised value for developers and buyers, and consistent delivery of high-quality services.
-
The leadership team evaluates projects carefully based on financial stability, past track record, and location, supported by finance, legal, CRM, and IT teams, ensuring effective execution and operational stability.
Risks
6-
The company has faced instances of delayed filings and non-maintenance of separate bank accounts under Sections 42(4) and 42(6) of the Companies Act, 2013. Compounding applications have been submitted, and penalties, if imposed, are not expected to exceed ₹28 lakh.
-
Justo’s revenue depends on timely commission payments from developers. Delays or defaults in receivables could affect profits and cash flows, despite provisions for doubtful debts and practices like barter transactions to limit losses.
-
A significant portion of revenue comes from a few major clients. Loss or reduced engagement of these clients could materially impact business performance.
-
The company’s business is project-based, and developers may not provide consistent repeat projects. Lack of long-term contracts creates variability in revenues and cash flows.
-
While repeat clients form a substantial part of revenue, any reduction in their orders or termination of existing arrangements could adversely affect business growth and financial stability.
-
Selling mandate inventories involves risks like payment delays, cost overruns, manpower issues, regulatory delays, and force majeure events. These could impact project timelines, revenue recognition, and operational efficiency.
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Justo Realfintech IPO FAQs
Justo Realfintech IPO is a book-build issue of equity shares. The IPO will open for subscription on September 24, 2025, and will close on September 26, 2025.
The Basis of Allotment for the Justo Realfintech IPO is expected to be finalised on Monday, September 29, 2025.
The IPO subscription window for the Justo Realfintech IPO will open on Wednesday, September 24, 2025.
Retail investors can subscribe to a minimum of 2,000 shares, which amounts to ₹2,54,000 based on the upper price band of ₹127 per share.
The Justo Realfintech IPO is proposed to be listed on BSE SME with a tentative listing date of Wednesday, October 1, 2025.
The issue size of the Justo Realfintech IPO is ₹63.00 crore, comprising a fresh issue of 0.50 crore equity shares.
The Justo Realfintech IPO will open for subscription on Wednesday, September 24, 2025, and will close on Friday, September 26, 2025.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
- Multiple Submissions: Use different Demat accounts to make multiple applications.
- Higher Price Band Bidding: Opt for bidding at the cut-off price or higher price band.
- Timely Subscription: Ensure you subscribe to the IPO within the specified time frame.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
To read Justo Realfintech Limited’s financial statements, download the IPO’s RHP document.
Pre-apply allows investors to apply for the Justo Realfintech IPO 2 days before the subscription period opens, ensuring an early submission of your application.
Your order will be placed when the IPO opens for bidding, and a UPI request will follow within 24 hours.
You will receive a notification once your order is successfully placed with the exchange after the bidding starts.
The registrar of the Justo Realfintech IPO is Purva Sharegistry (India) Pvt. Ltd., which will handle the IPO allotment process and investor-related services.
The Justo Realfintech IPO is proposed to be listed on the BSE SME.
