Justo Realfintech IPO Opens Today: Key Details, Financials, Anchor Allocation, Strengths and Risks

Mumbai, September 24, 2025 – Justo Realfintech Limited has launched its ₹63 crore Initial Public Issue (IPO) today. The issue will remain open until September 26, 2025 and is priced at a band of ₹120-₹127 per equity share with a minimum lot size of 1,000 shares. The shares are expected to get listed on the BSE SME platform on October 1, 2025.

Launched in the year 2019, Justo Realfintech Limited is a Mumbai real estate mandate provider that delivers sales strategy, marketing, CRM, and financing systems to residential and commercial developers. Utilizing technology platforms and data-driven information, the firm aims to quicken project delivery as well as property sales.

Justo Realfintech IPO Details

The ₹63 crore Initial Public Offer (IPO) of Justo Realfintech Ltd will be open for subscription from September 24, 2025, to September 26, 2025. The price band has been set at ₹120-₹127 per share with a lot size of 1,000 shares that translates into a minimum amount of ₹1.20 lakh to ₹1.27 lakh per lot.

The issue comprises a fresh issue of 49.61 lakh equity shares. The shares are likely to get listed on stock exchanges on October 1, 2025. Vivro Financial Services Pvt Ltd will be managing Justo Realfintech IPO as the lead manager, and Purva Sharegistry (India) Pvt Ltd has been designated as the registrar of the issue.

Restated Consolidated Financial Highlights

Justo Realfintech Ltd has demonstrated consistent growth in its business operations over the past three years. Revenue from operations rose to ₹8,135.18 lakh in FY25, up from ₹5,938.28 lakh in FY24, and slightly higher than ₹7,044.08 lakh in FY23. Total income followed a similar trajectory, increasing to ₹8,164.16 lakh in FY25 from ₹5,944.60 lakh in FY24 and ₹7,055.25 lakh in FY23.

Profit after tax (PAT) more than doubled on a year-on-year basis, reaching ₹1,521.13 lakh in FY25, compared with ₹669.44 lakh in FY24, although marginally lower than the ₹1,529.77 lakh recorded in FY23. Earnings per share (EPS) also rose to ₹11.71 in FY25 from ₹5.99 in FY24, while remaining below FY23’s ₹13.70.

The company’s net Worth has steadily improved and reached ₹5,140.43 lakh during FY25 from ₹2,691.57 lakh during FY24 and ₹2,031.12 lakh during FY23. Total borrowings also increased considerably to ₹1,622.96 lakh in FY25 from ₹231.15 lakh in FY24 and ₹361.08 lakh in FY23. Return on net worth (RoNW) stood at 38.84% in the FY25 from 28.35% during the FY24, although much lower compared with the spectacular 120.64% during the FY23.

Justo Realfintech IPO Anchor Investor Allocation

On September 23rd, 2025, Justo Realfintech issued a total of 14,10,000 equity shares to anchor investors at the higher price band of ₹127 per share and raised ₹17.90.

Key Anchor Allottees (Top Investors)

• Mavira Growth Opportunities Fund received 2,36,000 shares constituting 16.74% of the anchor book.
• Wadhawan Capital Growth Fund and Birla Sun Life International Fund – Growth Plan were allocated 1,94,000 and 1,94,000 shares respectively, totaling 13.76% each of the anchor allocation.
• 31 Degrees North Fund I purchased 1,18,000 shares, representing 8.37% of the anchor book.
• Eminence Global Fund PCC allocated 1,94,000 shares as well, composing 13.76% of the anchor segment.
• Shine Capital and other investors, such as Sunrise India Growth Fund and Shine Star Build Cap, together purchased 5,74,000 shares and completed their allocation.

Justo Realfintech IPO Major Strengths

• Strong presence in Pune, Mumbai Metropolitan Region, Nashik, Aurangabad, and Kolhapur.
• Tech-enabled proprietary platforms: JustoVerse for customer lifecycle monitoring and JustoWorks for project information management.
• 2,700+ channel partner network enabling the sale of more than 11,000 units worth ₹7,900 lakh since launch.
• Consistent revenue and profitability growth in the course of FY25, PAT increases by 127% YoY.

Justo Realfintech IPO Major Risks

• High client concentration: Top 10 clients contributed over 50% of revenue.
• Working capital-centric business with unfavorable operating cash flows during FY25.
• Outstanding legal proceedings against certain directors and promoters.
• Over-reliance on Mumbai and Pune projects (≈99% of revenues).
• Dependence of customer acquisition and selling on channel partners.

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