Here are the full details of the Justo Realfintech Limited IPO as known till now, along with key financials, dates, strengths and risks. If you want, I can also pull up peer comparables or valuation metrics.
Company: Justo Realfintech Limited (formerly Justo Realfintech Private Limited)
Sector / Business: Real estate / Real estate services. They are a “real estate solution provider” offering mandates to developers, helping with pricing, sizing of projects; enabling delivery of property units to end customers.
Incorporation: 2019; based in Maharashtra with operations in Pune, Mumbai Metropolitan Region, Nashik, Aurangabad and Kolhapur.
IPO Dates
- Opening Date: 24 September 2025
- Closing Date: 26 September 2025
- AllotmentDate: 29 September 2025
- Refunds Initiation and Credit of Shares in Demat: 30 September 2025
- Listing Date on BSE-SME: 1 October 2025
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹120 to ₹127 per share
- Lot Size: 1,000 Shares
- Total Issue Size: 49,61,000 shares
- Fresh Issue: All of it is fresh issue
- Sale Type: Fresh Capital
- Net Offered to Public: 47,10,000 shares
- 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
GMP of Justo Realfintech Limited IPO
The latest Grey Market Premium (GMP) for Justo Realfintech Limited IPO is about ₹25 per share, which means roughly ~19.7% over the issue price.
Details
- The issue price of the IPO is ₹127 (upper end of the band).
- With a GMP of ₹25, the estimated listing price in the grey market would be ₹152 (₹127 + ₹25).
- The price band for the IPO is ₹120-127.
Promoters of Justo Realfintech Limited
The Promoter of Justo Realfintech Limited is Puspamitra Das.
Here is what I was able to find about Puspamitra Das, the promoter (Chairman & Managing Director) of Justo Realfintech Limited, along with what is not publicly known. If you want, I can try digging up more (if legally and ethically available).
Puspamitra Das
- Full name: Puspamitra Das (sometimes spelled “Pushpamitra Das”)
Professional Background:
- He is a Chartered Accountant by qualification.
- Has over 30 years of experience in finance, taxation, leadership across several sectors including real estate, textiles, retail, steel.
- Held senior roles earlier, including CFO roles (for example at Bombay Dyeing, and Rustomjee) before founding Justo.
Board / Directorships:
- His DIN is 01643973
- He is associated with ~38 companies (current + past), across different industries.
- Major current company affiliation is Justo Realfintech.
What Is Not Publicly Known (or Not Verified)
- Exact date of birth / age is not available in credible public sources.
- Details of family (parents, spouse, children) are not available in sources I found.
- Exact education credentials beyond “Chartered Accountant” (i.e. schools/colleges for earlier studies) are not clearly disclosed.
- Personal address, contact info (phone, personal email), unless via official company or regulatory filings, are private or not disclosed.
Justo Realfintech Limited IPO Lot Size
Here’s the lot size for the Justo Realfintech Limited IPO:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹2,54,000 |
| 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 Limited IPO Promoter Holding
As of the latest available data, the promoter holding for Justo Realfintech Limited is as follows:
| Promoter Holding Pre Issue | 51.87% |
| Promoter Holding Post Issue | 38.18% |
- Pre-Issue Promoter Holding: 51.87%
- Post-Issue Promoter Holding: 38.18%
This dilution is due to the fresh issue of 4,961,000 shares in the IPO, aggregating up to ₹63.00 crore.
The sole promoter of the company is Puspamitra Das, who is also the Chairman and Managing Director.
About Justo Realfintech Limited
- Justo Realfintech Limited is a full-service real estate mandate company established in March 2019 and headquartered in Mumbai, Maharashtra.
- The company specializes in providing comprehensive solutions to real estate developers, covering all aspects from design to delivery.
- Their services include sales strategy, marketing, customer relationship management (CRM), financing solutions, and digital marketing.
Key Highlights
- Incorporation: March 29, 2019
- Registered Office: 801/802, 8th Floor, EL-Tara Building, Powai, Mumbai, Maharashtra, India
- Business Model: Offers end-to-end solutions to developers, assisting in project planning, execution, and sales.
- Presence: Operates across multiple cities, including Mumbai, Navi Mumbai, Pune, Kolhapur, Aurangabad, and Nashik.
- Recognition: Awarded “Property Consultant of the Year 2025” by The Economic Times.
Service Portfolio
| Service Category | Description |
|---|---|
| Strategy | Development of customized business plans to drive project success. |
| Marketing | Comprehensive marketing support across traditional and digital channels. |
| Sales | Tailored sales solutions leveraging market insights and technology. |
| Creative Services | Brand development and campaign management to enhance project visibility. |
| Fund Raising | Assistance in securing capital through joint ventures and other avenues. |
| Home Finance | Guidance and support in home financing to facilitate buyer transactions. |
| Capital Market | Strategic advice and support in navigating capital markets for funding. |
Operational Footprint
- Active Mandates: As of August 31, 2025, Justo holds active mandates for 37 real estate projects across Pune, Mumbai, and Nashik, with a combined potential value of over ₹4,149.56 crore and more than 3,559 units.
- Expansion Plans: The company aims to grow its sales portfolio to 8.5 million sq ft over the next two years, focusing on new markets like Hyderabad, Bengaluru, and select cities in Andhra Pradesh, Karnataka, Tamil Nadu, and Dubai.
Market Presence
- Justo Realfintech operates across multiple cities, including Mumbai, Navi Mumbai, Pune, Kolhapur, Aurangabad, and Nashik. Their expansion strategy includes entering new metro markets and tier II locations based on internal evaluations of untapped growth potentials.
Justo Realfintech Limited Financial Information
Here is the consolidated financial performance of Justo Realfintech Limited for the fiscal years 2023–2025:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹76.28 Crore | ₹41.77 Crore | ₹32.62 Crore |
| Total Income | ₹81.64 Crore | ₹59.45 Crore | ₹70.55 Crore |
| Profit After Tax | ₹15.21 Crore | ₹6.69 Crore | ₹15.30 Crore |
| EBITDA | ₹21.49 Crore | ₹9.47 Crore | ₹22.00 Crore |
| NET Worth | ₹51.40 Crore | ₹26.92 Crore | ₹20.31 Crore |
| Reserves and Surplus | ₹38.57 Crore | ₹26.93 Crore | ₹20.23 Crore |
| Total Borrowing | ₹16.23 Crore | ₹2.31 Crore | ₹3.61 Crore |
Observations
- Revenue Growth: The company achieved a 37% increase in revenue from 2024 to 2025.
- Profit Expansion: Net profit more than doubled, rising by 127% over the same period.
- Operational Efficiency: Despite a slight decline in EBITDA compared to 2023, the company maintained a healthy operating profit margin.
- Balance Sheet Strength: Significant growth in net worth and total assets, coupled with a manageable debt-to-equity ratio, indicates robust financial health.
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for Justo Realfintech Limited, based on their latest filings and operational data:
| 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 |
Objects of the Issue (Justo Realfintech Limited IPO Objectives)
The objectives of the Justo Realfintech Limited IPO are outlined as follows:
- Working Capital Requirements: To meet the company’s long-term working capital needs.
- Investment in IT Infrastructure: To fund the development of software and technological platforms.
- Debt Repayment: To repay a portion of the company’s outstanding borrowings.
- General Corporate Purposes: For other corporate requirements as deemed necessary.
These objectives are detailed in the company’s Draft Red Herring Prospectus (DRHP) filed with the BSE SME platform.
Strengths of Justo Realfintech Limited IPO
- Established Market Presence: Justo has a strong foothold in the rapidly growing real estate markets of Pune and the Mumbai Metropolitan Region (MMR), with active mandates valued at over ₹4,149 crore across 37 projects.
- Integrated Technology Platform: The company employs a custom-built technology platform that enhances operational efficiency, streamlines sales processes, and improves customer engagement.
- Experienced Leadership: Led by founder and CEO Puspamitra Das, the management team brings significant expertise in real estate marketing, sales, and project execution.
- Diverse Service Offerings: Justo provides end-to-end real estate solutions, including project planning, marketing, sales, financing, and capital market advisory, catering to developers and end customers.
- Strong Financial Performance: The company has demonstrated robust financial growth, with a 37% increase in revenue from FY 2024 to FY 2025 and a net profit margin of 18.6%.
Risks of Justo Realfintech Limited IPO
- Client Concentration: A significant portion of Justo’s revenue is derived from a limited number of clients. The loss of any major client could adversely impact financial performance.
- Project Execution Delays: Delays in the execution of real estate mandates could lead to time overruns and increased costs, affecting revenue and profitability.
- Market Cyclicality: The real estate market is subject to cyclical fluctuations. A downturn could reduce sales velocity and impact cash flows.
- Dependence on Repeat Business: The company’s business model relies heavily on repeat clients. A decline in repeat business could adversely affect revenue stability.
- Receivables Risk: Inability to collect receivables or defaults in payment from clients could reduce profits and affect cash flows.
Justo Realfintech Limited Contact Details
Certainly! Here are the official contact details for Justo Realfintech Limited:
Registered Office (Mumbai)
- Address: 8th Floor, EL-Tara Building, Orchard Avenue, Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India
- Phone: +91-22-3513 4314
- Email: cs@justo.co.in
- Website: www.justo.co.in
Branch Office (Pune)
- Address: 110 & 111, Nyati Emporius, Pune-Bangalore Highway, Baner, Pune – 411045, Maharashtra, India
- Phone: +91-98670 50544
- Email: pune.admin@justo.co.in
Key Contacts
- Mr. Ajay Kumar Singh (Mumbai): +91-88790 22481
- Mr. Sanjeev Thadani (Mumbai): +91-80974 44404
- Mr. Milind Patange (Pune): +91-98231 66443
Departmental Emails
- General Inquiries: enquiries@justo.co.in
- Marketing: marketing@justo.co.in
- Information: info@justo.co.in
- Complaints & Grievances: cg@justo.co.in
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