Proptech firm Homesfy Realty will open its IPO for subscription on December 21,2022. The company aims to raise Rs 15.86 crore through its initial stake sale.
The IPO will end on December 23, 2022. It will offer 8,05,200 equity shares with a fixed price of Rs 197 per share. Retail investors can apply for a minimum and maximum of 600 shares (one lot) amounting to Rs 1,18,200 and HNI investors can apply for a minimum of 1,200 shares (two lots) amounting to Rs 2,36,400. The shares of the company will be listed on the NSE Emerge Platform.
“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. Hence, the opportunity to get listed on NSE Emerge is a big step in that direction,” said Ashish Kukreja, Founder and CEO, Homesfy Realty.
The company said in a statement that it would utilise the money raised from the proposed offering for working capital needs, general corporate purposes, and organic expansion. The issue’s primary managers are Saarthi Capital Advisors Pvt Ltd, while ATMS and Co LLP serves as its advisor.
Homesfy’s IPO will be open for subscription from December 21 to December 23. The company aims to raise Rs 15.86 crore through its initial stake sale.
Founded in 2013, Mumbai-headquartered Homesfy has 400+ team members and operates in four cities in India—Mumbai, Pune, Delhi-NCR, and Bengaluru. It aims to simplify the home-buying process and provide relevant home solutions.
It has been the channel partner for builders and developers like Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra.
Recently, it raised $1.1 million from early-stage growth investors Girish Gulati, Dnyanesh Bhatavadekar, Neha Idnany, Yogesh Bagaria, and Amit Bagaria.
The company reported a net profit of Rs 3.18 crore with total revenue of Rs 30.31 crore for the fiscal year that ended on March 31, 2022. With total revenue of Rs. 12.39 core as of June 30, 2022, it reported a Rs. 1.39 crore profit.
Edited by Kanishk Singh