NSE SME: Homesfy Realty spurts on debut

Shares of Homesfy Realty were trading at Rs 288.80 at 10:25 IST on the NSE, a premium of 46.60% compared with the issue price of Rs 197.

The scrip was listed at Rs 275.05, representing a premium of 39.62% compared with the IPO price.

So far, the scrip hit a high of Rs 288.80 and a low of Rs 275.05. Over 2,69,400 shares of the company have changed hands in the counter till now.

The initial public offer (IPO) of Homesfy Realty received bids for 1,65,78,000 shares as against 7,64,400 shares on offer. The issue was subscribed 21.68 times.

The qualified institutional buyers (QIBs) category put in bids for 8,17,800 shares. The non institutional investors category subscribed to 94,33,800 shares. The retail individual investors (RIIs) category bought 63,26,400 shares.

The issue opened for bidding on 21 December 2022 and it closed on 23 December 2022. The issue price was fixed at Rs 197 per share.

The IPO comprised fresh issue of 8,05,200 equity shares (including market maker portion of 40,800 equity shares).

The company intends to utilize the net proceeds from the issue for working capital requirements and for general corporate purposes.

Homesfy Realty is engaged in providing real estate broking services to real estate developers, retail buyers/sellers and investors for residential and commercial space. The company deals in new constructed properties & plotting projects, whereby it assists the real estate developers in selling and potential customers in purchasing the properties. The company operates its business through direct selling from its in-house sales team and direct selling agent listed on mymagnet platform for referral services. The company runs its brokerage business in name of Homesfy and is well partnered by mymagnet platform. Currently, it generates 80% of its revenue via direct selling and remaining 20% via mymagnet platform.

The company recorded total revenue of Rs 12.39 crore and net profit of Rs 1.38 crore for the period ended on 30 June 2022.

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