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Bhavik Enterprises IPO vs Justo Realfintech IPO

Comparison between Bhavik Enterprises IPO and Justo Realfintech IPO.

IPO Details

Bhavik Enterprises IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Justo Realfintech IPO is a SME Bookbuilding proposed to list at BSE SME.

 Bhavik Enterprises IPOJusto Realfintech IPO
LogoBhavik Enterprises IPO LogoJusto Realfintech IPO Logo
Issue CategorySMESME
Issue TypeIPOIPO
Process TypeFixed PriceBookbuilding
Listing AtBSE SMEBSE SME
Lead ManagersSmart Horizon Capital Advisors Pvt.Ltd.Vivro Financial Services Pvt.Ltd.
RegistrarBigshare Services Pvt.Ltd.Purva Sharegistry (India) Pvt.Ltd.
Market MakerShreni Shares Ltd.Rikhav Securities Ltd.
DRHPDRHP DRHP
RHPRHP
Final ProspectusFinal Prospectus Final Prospectus
Anchor InvestorAnchor Investor
IPO Allotment URLIPO Allotment URL IPO Allotment URL

Issue Size and Price

The total issue size of Bhavik Enterprises IPO is up to ₹73.08 Cr whereas the issue size of the Justo Realfintech IPO is up to ₹59.82 Cr. The final issue price of Bhavik Enterprises IPO is ₹140.00 per share and of Justo Realfintech IPO is ₹127.00 per share.

 Bhavik Enterprises IPOJusto Realfintech IPO
Face Value₹10 per share₹10 per share
Issue Price (Lower)₹120.00 per share
Issue Price (Upper)₹127.00 per share
Issue Price (Final)₹140.00 per share₹127.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size1000 shares1000 shares
Fresh Issue Size42,20,000 shares47,10,000 shares
Fresh Issue Size (Amount)up to ₹59.08 Crup to ₹59.82 Cr
OFS Issue Size10,00,000 shares0 shares
OFS Issue Size (Amount)up to ₹14.00 Crup to ₹0.00 Cr
Issue Size Total52,20,000 shares47,10,000 shares
Issue Size Total (Amount)up to ₹73.08 Crup to ₹59.82 Cr

IPO Timetable

Bhavik Enterprises IPO opens on Sep 25, 2025, while Justo Realfintech IPO opens on Sep 24, 2025. The closing date of Bhavik Enterprises IPO and Justo Realfintech IPO is Sep 30, 2025, and Sep 26, 2025, respectively.

 Bhavik Enterprises IPOJusto Realfintech IPO
Anchor Bid DateSep 23, 2025
Issue OpenSep 25, 2025Sep 24, 2025
Issue CloseSep 30, 2025Sep 26, 2025
Basis Of Allotment (Tentative)Oct 01, 2025Sep 29, 2025
Initiation of Refunds (Tentative)Oct 03, 2025Sep 30, 2025
Credit of Share (Tentative)Oct 03, 2025Sep 30, 2025
Listing date (Tentative)Oct 06, 2025Oct 01, 2025
Anchor Lockin End date 1Oct 28, 2025
Anchor Lockin End date 2Dec 27, 2025

Financials & KPIs

Bhavik Enterprises IPO P/E ratio is 39.07, as compared to Justo Realfintech IPO P/E ratio of 11.55.

 Bhavik Enterprises IPOJusto Realfintech IPO
Financials

Company Financials (Restated)

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets173.22136.52157.46
Total Income531.46500.35491.09
Profit After Tax5.687.8915.56
EBITDA3.944.8317.46
NET Worth98.0292.3484.44
Reserves and Surplus82.1687.0579.16
Amount in ₹ Crore

Company Financials (Restated Consolidated)

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets76.2841.7732.62
Total Income81.6459.4570.55
Profit After Tax15.216.6915.30
EBITDA21.499.4722.00
NET Worth51.4026.9220.31
Reserves and Surplus38.5726.9320.23
Total Borrowing16.232.313.61
Amount in ₹ Crore
Promoter Shareholding (Pre-Issue)99.9951.87
Promoter Shareholding (Post-Issue)72.9838.18
P/E Ratio39.0711.55
Market Cap₹285.01 Cr.₹238.74 Cr.
ROE5.9738.84
ROCE7.8444.18
Debt/Equity0.32
EPS₹3.58₹10.99
RoNW5.8038.84

Shares Offered

In the Bhavik Enterprises IPO Retail Individual Investors (RII) are offered 26,10,000 shares while in Justo Realfintech IPO retail investors are offered 26,10,000 shares. Qualified Institutional Buyers (QIB) are offered 0 shares in Bhavik Enterprises IPO and 9,42,000 shares in Justo Realfintech IPO.

 Bhavik Enterprises IPOJusto Realfintech IPO
Anchor Investor Reservation0 shares14,10,000 shares
Market Maker Reservation2,80,000 shares2,51,000 shares
QIB0 shares9,42,000 shares
NII26,10,000 shares7,08,000 shares
RII26,10,000 shares16,50,000 shares
Employee0 shares0 shares
Others
Total52,20,000 shares47,10,000 shares

Bids Received (Subscription)

Bhavik Enterprises IPO subscribed 0.98x in total, whereas Justo Realfintech IPO subscribed 3.20x.

 Bhavik Enterprises IPOJusto Realfintech IPO
QIB (times)7.21x
NII (times)1.30x6.81x
Big NII (times)8.54x
Small NII (times)3.38x
RII (times)0.67x2.10x
Employee (times)
Other (times)
Total (times)0.98x3.20x

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Compare:

Bhavik Enterprises IPO Vs Justo Realfintech IPO