Justo Realfintech IPO
Justo Realfintech IPO Details
-
Open Date
24 Sep 2025
-
Close Date
26 Sep 2025
-
Listing Date
01 Oct 2025
- IPO Price Range
₹ 120 - ₹127
- IPO Size
₹ 63 Cr
- Listing Exchange
BSE SME
Justo Realfintech IPO Timeline
Justo Realfintech IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 24-Sep-25 | 1.59 | 1.30 | 0.22 | 0.84 |
| 25-Sep-25 | 1.96 | 1.89 | 0.48 | 1.20 |
| 26-Sep-25 | 1.96 | 3.11 | 0.89 | 1.67 |
Last Updated: 26 September 2025 6:47 PM by 5paisa
Justo Realfintech Limited is a real-estate mandate company that runs end-to-end sales, marketing and CRM programmes for developers, using a large channel-partner network and proprietary tech platforms (notably “JustoVerse” and “JustoWorks”) to track the customer lifecycle from walk-in to registration. It operates across Pune, Mumbai Metropolitan Region and Nashik, with additional presence in Aurangabad and Kolhapur, and serves mainly lower-to-mid-segment residential and commercial projects.
Established in: 2019
Managing Director: Puspamitra Das
Peers: There are no listed companies, according to company RHP.
Justo Realfintech Objectives
1. Long-term working capital: ₹36.50 Cr
2. IT infrastructure & tech platform: ₹6.30 Cr
3. Partial repayment of borrowings: ₹5.00 Cr
4. General corporate purposes
Justo Realfintech IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹63 Cr |
| Offer For Sale | 0 |
| Fresh Issue | ₹63 Cr |
Justo Realfintech IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 2,40,000 |
| Retail (Max) | 2 | 2,000 | 2,54,000 |
| S-HNI (Min) | 3 | 3,000 | 3,60,000 |
| S-HNI (MAX) | 6 | 6,000 | 7,20,000 |
| B-HNI (Min) | 7 | 7,000 | 8,40,000 |
Justo Realfintech IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.96 | 9,42,000 | 18,43,000 | 23.406 |
| NII (HNI) | 3.11 | 7,08,000 | 22,00,000 | 27.940 |
| Individual Investors (IND category bidding for 2 Lots) | 0.89 | 16,50,000 | 14,70,000 | 18.669 |
| Total** | 1.67 | 33,00,000 | 55,13,000 | 70.015 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (in Rs. Crores) | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 70.44 | 59.38 | 81.35 |
| EBITDA | 21.99 | 9.46 | 21.49 |
| PAT | 15.29 | 6.69 | 15.21 |
| Particulars (in Rs. Crores)] | FY23 | FY24 | FY25 |
|---|---|---|---|
| Total Assets | 32.62 | 41.77 | 76.27 |
| Share Capital | 1.00 | 1.00 | 1.00 |
| Total Borrowings | 3.61 | 2.31 | 16.22 |
| Particulars (in Rs. Crores | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 1.20 | 4.98 | -9.22 |
| Net Cash Generated From / (used in) investing activities | -2.23 | -3.98 | -8.96 |
| Net Cash Generated From / (used in) financing activities | 0.45 | -1.37 | 24.79 |
| Net Increase (Decrease) In Cash And Cash Equivalents | -0.57 | -0.37 | 6.87 |
Strengths
1. End-to-end mandate model for developers
2. Large channel-partner network across markets
3. Proprietary tech: JustoVerse and JustoWorks
4. Presence across key Maharashtra hubs
5. Data-driven sales and CRM execution
Weaknesses
1. Project-based, lumpy revenue visibility
2. Reliance on repeat business from clients
3. Limited operating history as a company
4. Leases for key premises, renewal risk
5. Working-capital intensity in scale-up
Opportunities
1. Rising mandates in Tier-2/3 cities
2. Digitalisation of real-estate sales funnels
3. Cross-sell value-added services to developers
4. Regulatory formalisation aiding organised players
5. Expanding channel-partner footprint nationally
Threats
1. Macro-driven real-estate demand cycles
2. Competitive pressure from larger peers
3. Regulatory changes, RERA compliance costs
4. Tech obsolescence and data-security risks
5. Delays in projects impacting collections
1. Tech-enabled, asset-light mandate model with scale
2. Clear proceeds plan: working capital, tech, deleveraging
3. Presence across high-velocity Maharashtra markets
4. Proprietary platforms improving visibility and conversion
5. Tailwinds from formalisation and sales outsourcing in real estate
Industry research highlights growing adoption of mandate-based sales by developers seeking faster, more predictable conversions, especially as markets formalise and digital funnels mature. With over 11,000 developers nationally and increasing appetite beyond core metros, organised, tech-enabled mandate players can capture wider share. Justo’s presence in major Maharashtra micro-markets, plus its proprietary platforms and partner network, positions it to benefit—provided it manages working capital, sustains repeat mandates, and keeps its tech stack ahead of rivals.
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FAQs
Justo RealfintechIPO opens from September 24, 2025 to September 26, 2025.
The size of Justo RealfintechIPO is ₹63 Cr.
The price band of Justo Realfintech IPO is fixed at ₹120 to ₹127 per share.
To apply for Justo Realfintech IPO, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for the Justo Realfintech IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of the Justo Realfintech IPO is of 2,000 shares and the investment required is ₹2,68,000.
The share allotment date of Justo RealfintechIPO is September 30, 2025
The Justo Realfintech IPO will likely be listed on October 1, 2025.
Vivro Financial Services Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue.
Justo Realfintech plans to utilise the raised capital from the IPO for:
1. Long-term working capital: ₹36.50 Cr
2. IT infrastructure & tech platform: ₹6.30 Cr
3. Partial repayment of borrowings: ₹5.00 Cr
4. General corporate purposes
Justo Realfintech Contact Details
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
Website: http://www.justo.co.in/
Justo Realfintech IPO Register
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
Justo Realfintech IPO Lead Manager
Vivro Financial Services Pvt.Ltd.