Mumbai-based property brokerage firm Homesfy Realty IPO opens for a subscription. The issue is open for Retail and HNI subscriptions from December 21, 2022, till December 23, 2022.
With more than 600 listings on BSE & NSE SME exchanges and the notable success of many SME IPO, investors have started showing interest in this new category of SME IPOs.
The tech-led property brokerage firm aims to raise INR 15.86 Crores through its initial stake sale. It is selling 8,05,200 equity shares of face value INR 10.00 each for INR 197.00 apiece.
“We are a mid-sized company that now aspires to take the next orbit of growth as we always believed that we have the potential to become a well-run property advisory institution,” said Ashish Kukreja, Founder and CEO of Homesfy Realty Ltd.
Recently, marquee investors led by Girish Gulati and others have picked up stakes in the company.
The company will use the proceeds from the proposed offering for its Working capital requirements, General corporate purpose, and organic growth, the firm said in a statement.
Retail Investors can apply for a minimum and maximum of 600 shares (1 Lot) amounting to INR 1,18,200, and HNI Investors can apply for a minimum of 1200 shares (2 Lots) amounting to INR 2,36,400.
The shares of the company will be listed on the NSE Emerge Platform
Founded a decade ago, Homesfy has been the channel partner for builders and developers like Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra to name a few.
In the last financial year, the property brokerage firm has collaborated with more than 106 developers. With more than 400 team members spread across Mumbai, Pune, Delhi NCR, and Bengaluru, the firm partners with reputed builders in the country.
Company shares will be listed on the NSE Emerging Platform, which is a platform for emerging businesses and firms.
Companies that are not large enough to be listed on the main board but have high-growth prospects are listed here.
For the year ended March 31, 2022, the company reported a net profit of INR 3.18 Crores with total revenue of INR 30.31 Crores. It reported a profit of INR 1.39 Crores with total revenue of INR 12.39 Cores till June 30, 2022.