214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

144  SME IPOs listed with Gain in 2025

70  SME IPOs listed with loss in 2025

Justo Realfintech IPO Review

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Justo Realfintech IPO Date
  • IPO Open Date:
    24 Sep 2025
  • IPO Close Date:
    26 Sep 2025
  • IPO Allotment Date:
    29 Sep 2025
  • Tentative Refund Date:
    30 Sep 2025
  • IPO Listing:
    1 Oct 2025
Check Justo Realfintech IPO GMP

Justo Realfintech IPO Overview

Sector Update

Operating in the Real Estate sector and The residential construction market was valued at $188.73 billion in 2024, and is expected to grow to $204.05 billion by 2025, reflecting a compound annual growth rate (CAGR) of 7.51% from 2025 to 2030.

Growth drivers

Growth drivers are increased demand in the real estate industry and considerable presence in Pune and are rapidly expanding footprint in Mumbai. The company distinguish itself through tech-enabled platforms that streamlines project onboarding, customer engagement and sales processes. 

Financial Update:
(comparison of FY24 FY25 )
Revenue ₹59.38 cr ₹81.35 cr (+37.00%)
PAT ₹6.69 cr ₹15.21 cr (+127.35%)
PAT Margin 11.27 % 18.70 % (+65.93%)
EBITDA ₹9.46 cr ₹21.76 cr (+130.02%)
EBITDA Margin 15.93 % 26.75 % (+67.92%)
ROE 24.85 % 29.03 % (+16.82%)
ROCE 38.62 % 44.18 % (+14.40%)
D/E 0.09 0.31 (+244.44%)
Business Diversification

JRL’s business model focuses on providing services which include but are not limited to providing comprehensive advisory and execution services across business and sales strategy, marketing, CRM and financing solutions

IPO Valuation

PE Ratio: 15.69x Average Sector PE Ratio: 20.03x

Justo Realfintech IPO Reservation

Justo Realfintech IPO Share Allocation
QIB Shares Offered: 2352000
- Anchor Investor Shares Offered: 1410000
− QIB (Ex. Anchor) Shares Offered : 942000
NII (HNI) Shares Offered: 708000
- bNII > ₹10L: 471000
- sNII < ₹10L: 237000
Retail Shares Offered: 1650000
Total Shares Offered: 4710000
Justo Realfintech IPO Lot Size
Application Lot Shares Amount
Individual investors (Retail) (Max) 2 2000 ₹254000
S-HNI (Min) 3 3000 ₹381000
S-HNI (Max) 7 7000 ₹889000
B-HNI (Min) 8 8000 ₹1016000

Interesting facts about IPO

IPO Size: ₹ 63.00 Cr.

Avg IPO Size (Sector Based):

₹ 15.26 cr.

Sector: Real Estate

SME IPO so far in this sector:

40

Merchant Banker: Vivro Financial

SME IPO by BRLM so far:

11


SME IPO so far in this city:

306

PE Ratio: 15.69

Average Sector PE Ratio:

20.03 X

Price Band (Upper): ₹ 127.00

Listing Price:

₹ 126.90

Business Profile

Justo Realfintech is a full services real estate mandate company based in Maharashtra, with operations in Pune, Mumbai Metropolitan Region (“MMR”) and Nashik with additional presence in Aurangabad and Kolhapur. They provide solutions including decisions on pricing and sizing of the projects to real estate developers and enabling the delivery of the products to the end customers. The firm has established a considerable presence in Pune and is rapidly expanding its footprint in Mumbai. They distinguish themselves through their tech-enabled platforms that streamlines project onboarding, customer engagement and sales processes. Leveraging data-driven insights and digital tools, the Company ensures enhanced visibility and conversion for its real estate developer partners. With a wide-reaching channel partner (“CP”) network and deep understanding of local market dynamics in which they operate, they offer end to-end solutions across sales strategy, marketing, and execution.

Strengths and Challenges as per DRHP

Strengths Image
  • Market Expertise
  • Established Network
  • Sales & Marketing Prowess
  • Technology Adoption

 

Strengths Image
WEAKNESSES Image
  • Dependence on Market Conditions
  • Limited Control over Construction
  • Over-Reliance on Technology

 

Strengths Image
OPPORTUNITIES Image
  • Expanding into New Markets
  • Focusing on Niche Markets
  • Capitalizing on Market Trends
Strengths Image
THREATS Image
  • Economic Downturn
  • Increased Competition
  • Technological Disruption
Strengths Image
S
W
O
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Comparison of Justo Realfintech IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
Justo Realfintech IPO
vs
vs
vs

IPO Date
1st Oct 2025


IPO Size
₹ 63.00 Cr.

Total Assets
₹ 76.27 Cr.

Revenue
₹ 81.35 Cr.

PAT
₹ 15.21 Cr.

PAT Margin
18.70 %

Leverage Ratio
0.31 x

PE Multiple
15.69 x

EV/EBITDA
11.32 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

Justo Realfintech IPO Objectives (Objects of Offer) and expected Utilisation

Funding investment in development of software and technological platform
36

Funding investment in IT infrastructure and development of technological platform
6

Repayment of a portion of certain outstanding borrowings availed by the Company
5

General Corporate Purposes
[●]

Track Record of (Merchant Banker)/merchant Banker Report

Vivro Financial Services Private Limited, based in Ahmedabad is the Lead Manager (BRLM) of Justo Realfintech IPO. Vivro Financial Services Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Vivro Financial Services Private Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

Justo Realfintech IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Justo Realfintech Financial Review Page

Justo Realfintech IPO subscription was 4.57 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Justo Realfintech IPO listed at a listing price of 126.90 against the offer price of 127.00.

The current market price of Justo Realfintech is 123.45.

Services

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IPO Advisory
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Fund Raising
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SME Business Upscaling
Provide support to build a scalable SME business by unleashing the SME potential.
Post IPO Montoring
Post IPO Mentoring
Assisting with post IPO regulatory requirements and Performance Monitoring to achieve the milestone of Mainboard migration.

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