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Justo Realfintech IPO
Justo Realfintech Ltd.'s upcoming Initial Public Offering (IPO) has raised interest among India's real estate and investment circles. The IPO will open for subscription from September 24, 2025, to September 26, 2025. It marks the transition of the company from an operating private mandate services provider to a listed company on the BSE SME platform. The issue size is ₹63 crore, priced between ₹120 and ₹127 per share, attracting both institutional and retail investors.
Company Background
Justo Realfintech Ltd. was incorporated in March 2019 as Justo Realfintech Private Limited. Within a short span, it has emerged as a knowledge-based real estate mandate firm with a strong focus on Maharashtra. The company’s vision is to transform the developer experience through technology-powered solutions, deep market insights, and execution expertise. Its rapid growth is reflected in sales facilitated across thousands of residential and commercial units, supported by a strong channel partner network.
Operations & Product Range
Although Justo Realfintech is not a manufacturing company, it has critical capacity in the form of proprietary technology platforms and operational bases. Its two flagship platforms — JustoVerse and JustoWorks — drive service delivery, reduce inefficiencies, and introduce transparency for developers. These platforms also enable business scalability without proportionally increasing manpower.
Facility & Infrastructure
The company’s infrastructure is technology-driven rather than factory-based. Proceeds from the IPO will be utilized towards working capital, IT infrastructure, debt repayment, and general corporate purposes.
Brands & Market Presence
The “Justo” brand is positioned as a trusted partner to developers rather than a consumer-facing name. Its core values are credibility, transparency, and technology-enabled service delivery. Currently, the company is concentrated in Maharashtra, operating in Pune, Nashik, Mumbai, Aurangabad, and Kolhapur. This focused presence enables deeper market penetration prior to national expansion.
Revenue Channels
- • Mandate / Commission Fees: Developers pay fees or a percentage of sales for project management, forming the primary revenue stream.
- • Advisory Services: Income from consulting developers on pricing, project planning, and market research.
- • Financing Facilitation: Commissions from banks and NBFCs for arranging construction loans or buyer home loans.
- • Post-Sales Services: Additional income from customer support, handover coordination, and after-sales management.
Management & Shareholding
The promoters of Justo Realfintech IPO are experienced professionals from real estate, finance, and marketing. The most prominent promoter and face of the company is Mr. Puspamitra Das, who serves as the Chairman and Managing Director. Other notable members include Chirag Prasanna Mehta, who serves as a Non-Executive Director. The pre-issue shareholding pattern shows majority promoter ownership, which will dilute post-listing.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Justo Realfintech IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Justo Realfintech IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 24, 2025 to September 26, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹120 to ₹127 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 49,61,000 shares (aggregating up to ₹63.00 Cr) |
| Reserved for Market Maker | 2,51,000 shares (aggregating up to ₹3.19 Cr) Rikhav Securities Ltd. |
| Net Offered to Public | 47,10,000 shares (aggregating up to ₹59.82 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,38,37,142 shares |
| Share Holding Post Issue | 1,87,98,142 shares |
Justo Realfintech IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Wed, Sep 24, 2025 |
| IPO Close Date | Fri, Sep 26, 2025 |
| Tentative Allotment | Mon, Sep 29, 2025 |
| Initiation of Refunds | Tue, Sep 30, 2025 |
| Credit of Shares to Demat | Tue, Sep 30, 2025 |
| Tentative Listing Date | Wed, Oct 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 26, 2025 |
Justo Realfintech IPO Lot Size
| 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 Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 51.87% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • To meet the working capital needs of the company.
- • To strengthen IT infrastructure and enhance proprietary technology platforms.
- • To repay part of the outstanding borrowings.
- • To address general corporate purposes.
Justo Realfintech IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 76.28 | 81.64 | 15.21 | 51.4 | 16.23 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 41.77 | 59.45 | 6.69 | 26.92 | 2.31 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 32.62 | 70.55 | 15.3 | 20.31 | 3.61 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.99 | 8.09 |
| P/E (x) | 11.55 | 15.69 |
Competitive Strengths
- • Extensive channel partner network ensuring strong project reach.
- • Proprietary technology platforms that streamline processes and enhance efficiency.
- • Proven track record in marketing and sales with smooth execution.
- • Experienced leadership team with deep industry knowledge.
Conclusion
Justo Realfintech IPO provides investors with an opportunity to participate in a fast-growing, full-service real estate mandate firm. Operating across major cities in Maharashtra, the company leverages proprietary platforms, strong partnerships, and industry expertise. While it faced a minor setback in FY24 due to broader sector trends, the IPO proceeds — targeted at working capital, IT upgrades, and debt repayment — will help sharpen operations and support sustainable growth. For investors seeking exposure to India’s real estate mandate and technology-driven services sector, this IPO may offer a promising opportunity.
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Frequently asked Questions (FAQs )
-
What is the Justo Realfintech IPO size and price band?
The issue size is ₹63 crore and the price band is ₹120–₹127 per share
-
When is the IPO opening and closing?
It gets listed on 24 September 2025 and gets delisted on 26 September 2025. The probable listing date is 1 October 2025.
-
What are the strengths of Justo Realfintech IPO ?
Its positives include a technology-facilitated platform, strong channel partner network, integrated offerings and proven profitability.
-
What is going to be done with the proceeds?
Proceeds will be utilized towards working capital, IT infrastructure, debt repayment and general corporate purposes.
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