Justo Realfintech files draft papers with BSE SME to raise funds via IPO

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Justo Realfintech files draft papers with BSE SME to raise funds via IPO - Business Standard

Quick Summary:

The IPO is entirely a fresh issue of up to 49.61 lakh equity shares with a face value of Rs 10 each, and the shares of the company are proposed to be listed on the BSE's SME platform, according to the draft red herring prospectus (DRHP) filed on Wednesday.

Justo Realfintech, a real estate solution provider, has filed its preliminary papers with BSE SME to raise funds through an initial public offering (IPO).

The net proceeds from the IPO, worth Rs 36.5 crore, will be used by the firm towards long-term working capital requirements, and Rs 6.30 crore will be used for funding investment in development of software and a technological platform.