Prop-tech Homesfy Realty Opens IPO The funds which will be raised by the company will be directed towards working capital requirements, organic growth, and general corporate purpose

On Wednesday, Homesfy Realty, a tech-led property brokerage firm announced that it will be opening its Initial Public Offering (IPO) for subscription from December 21 to December 23, 2022. Homesfy Realty was established in 2013 and has grown to a team of 400+ members across Delhi- NCR, Mumbai, Pune, and Bangalore.

The company, over close to a decade, has partnered with 106+ developers, including Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra. The firm plans to raise Rs. 15.86 Crores by offering 8, 05,200 Equity shares in the market.

The shares shall be available only to retail investors and high-net-worth individuals at a fixed price of ₹ 197.00 per share.

Retail investors can apply for a minimum and maximum of 600 shares (1 Lot) whereas HNI's can apply for a minimum of 1200 shares (2 Lots), amounting to ₹ 1, 18,200.00 and ₹ 2, 36,400.00 respectively. The raised funds will be directed towards working capital requirements, organic growth, and general corporate purposes.

Talking on the occasion, Ashish Kukreja, Founder & CEO of Homesfy Realty Ltd shared "We are a mid-sized company which 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." The process is being assisted by Sarthi Capital Advisors Pvt.Ltd as the lead managers and ATMS & CO LLP as the advisors.

In November-end, Homesfy reported to have raised 1.1 m from its investors, including Girish Gulati. The prop-tech firm ended the FY21 with a net profit of ₹ 3.18 Crores with ₹ 30.31 Crores worth of total revenue and reportedly made a profit of ₹ 1.39 Crores with total revenue of ₹ 12.39 Crores till June 30, 2022.