Homesfy Realty's initial public offering (IPO) begins today: ten facts about the problem

Homesfy Realty’s initial public offering (IPO) begins today: ten facts about the problem

Homesfy Realty’s initial public offering (IPO) begins today: ten facts about the problem

Many small and medium-sized enterprises (SMEs) have recently launched initial public offerings (IPOs). Homesfy Realty, a Mumbai-based tech-led property brokerage firm, is the most recent addition to the list. The subscription period begins on December 21 and ends on December 23.

The company hopes to raise 15.86 crores through the offering.

Here are ten key points to understand about the problem and the company:

  • IPO size: The Mumbai-based tech-led property brokerage firm expects its IPO sales to generate Rs. 15.86 crore.
  • IPO price: The Mumbai-based real estate brokerage firm will sell 8,05,200 equity shares with a face value of ten dollars each at a fixed price of 197 dollars each.
  • IPO subscription dates: Retail and HNI subscriptions are open from December 21 to December 23.
  • IPO bid lot size: Retail investors can apply for a minimum of 600 shares (1 Lot) up to a maximum of 1,18,200. Meanwhile, HNIs can apply for a minimum of 1200 shares (2 Lots) totaling $2,36,400.
  • SME Homesfy Realty: and are owned by SME Homesfy, a Mumbai-based tech-driven property brokerage firm. “We are a mid-sized company that aspires to the next orbit of growth because we have always believed that we have the potential to become a well-run property advisory institution,” Founder & CEO of Homesfy Realty, Ashish Kukreja said. In 2011, Homesfy Reality Limited was established in Thane, Maharashtra. It offers real estate brokerage services to companies such as Dosti, Runwal, and Hiranandani.
  • SME firm investors: The company recently received investment from marquee investors led by Girish Gulati and others, who purchased a stake in it. Homesfy. has a high growth potential and is one of the real estate industry’s fastest growing companies. Homesfy has collaborated with preferred channel partners such as Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, Mahindra, and others.
  • Issue objectives: Homesfy Realty will use the proceeds from the offering for working capital, general corporate purposes, and organic growth.
  • Sarthi Capital Advisors will manage the IPO and ATMS & CO LLP will provide advice.
  • In the previous fiscal year, the company generated total revenue of 30.31 crores and reported a net profit of 3.18 crores. Homesfy made a profit of 1.39 crores on a total revenue of 12.39 crores until June 30, 2022.

The total income of the company increased by more than 100% from 14.76 crore in FY21 to 30.40 crore in FY22. The technology-led firm is present in four Indian cities: Mumbai, Pune, Delhi NCR, and Bengaluru. It has worked with over 106 different developers.

The company’s online presence allows it to enter a market that was previously untapped due to its limited physical presence. It offers brokerage services via its website, prospect calling, and digital advertising platform.

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