Reet Projects IPO
Reet Projects IPO is a fixed-price SME issue of ₹5.35 crore, consisting entirely of a Fresh Issue of 17.84 lakh equity shares with no Offer for Sale. The issue price is fixed at ₹30 per share, with a lot size to be announced. The IPO is proposed to be lis
Reet Projects IPO Details
Reet Projects IPO is a proposed SME fixed-price issue of 17,84,000 equity shares with a face value of ₹10 each. The issue price is fixed at ₹30 per equity share, aggregating to ₹5.35 crore. The issue consists entirely of a fresh issue, with 96,000 equity shares reserved for the Market Maker Reservation Portion. BSE India The company operates in the real estate development and construction business, primarily focusing on residential and commercial projects in Bharuch and nearby areas of Gujarat. The IPO proceeds are proposed to be used for funding working capital requirements and general corporate purposes.
Reet Projects IPO Lot Size
The Reet Projects IPO minimum bid lot has not been announced in the available issue documents. The issue price is fixed at ₹30 per share, but the application lot size and corresponding minimum investment will be disclosed before the IPO opens.
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Reet Projects IPO Subscription
Reet Projects IPO has not yet opened for subscription. Therefore, category-wise and overall subscription figures are currently unavailable. Subscription data will be updated after the IPO opens and investor bidding begins.
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About Reet Projects
Reet Projects Limited was originally formed as a partnership firm under the name M/s. Orbit Corporation through a partnership deed dated April 29, 2014. The partnership was subsequently reconstituted several times and its name was changed to M/s. Reet Projects in February 2023. The business was later converted into a public limited company under the name Reet Projects Limited on March 31, 2023.
The company is engaged in real estate development and construction. Its activities include residential and commercial plotting, construction of residential, commercial and industrial buildings, colonies, mills, factories and workshops. The company primarily operates in Bharuch district of Gujarat, with a focus on plotted developments, row houses, bungalows and residential and commercial projects.
Reet Projects manages various aspects of real estate development, including identification and acquisition of land, project planning, execution, marketing, maintenance and management of completed developments. It may also enter into project-specific joint ventures or partnerships. The company develops projects on land held as stock-in-trade and may also undertake project management, marketing and branding services through memorandums of understanding with other parties. The company believes that Bharuch and surrounding areas offer development opportunities because of the proximity of Dahej GIDC. According to the Draft Prospectus, Dahej GIDC has more than 170 companies, and the expansion of industrial activity may contribute to population growth and demand for residential accommodation in nearby areas.
Strengths
- Experienced promoters and management team with involvement in real estate development activities.
- Integrated approach covering land acquisition, project conceptualisation, execution and marketing.
- Presence in Bharuch and surrounding areas provides access to a developing industrial and residential market.
- The company focuses on multiple real estate categories including residential, commercial and plotted developments.
- Ability to work with architects, project management consultants, contractors and other property-service providers.
Risks to Consider
- The company's ability to identify suitable parcels of land with clear title and suitable locations is critical to its growth.
- Any uncertainty regarding the title of real estate assets could adversely affect business and financial performance.
- The success of the business depends on timely completion and development of its real estate projects.
- The company is dependent on contract labour, and shortages or increases in labour costs could affect project execution.
- Real estate demand and property prices can be affected by economic conditions, interest rates and regulatory changes.
- Delays in obtaining approvals or permissions can adversely affect project completion and cash flows.
Reet Projects Financials (₹ Cr)
Reet Projects reported revenue from operations of ₹80.51 crore in FY2023 compared with ₹31.59 crore in FY2022 and ₹159.40 crore in FY2021. Profit after tax increased from ₹0.52 crore in FY2021 to ₹0.54 crore in FY2022 and ₹9.27 crore in FY2023. For the period ended June 15, 2023, the company reported revenue from operations of ₹12.49 crore and PAT of ₹1.32 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| June 15, 2023 | 12.49 | 1.32 | - | 49.56 |
| March 31, 2023 | 80.51 | 9.27 | - | 2.29 |
| March 31, 2022 | 31.59 | 0.54 | - | 4.08 |
| March 31, 2021 | 159.40 | 0.52 | - | 8.13 |
KPIs & Valuation
At the fixed IPO price of ₹30 per share, Reet Projects had FY2023 basic and diluted EPS of ₹0.47 and a pre-IPO P/E of approximately 63.83x. The company reported a Return on Net Worth of 40.55% and a Net Asset Value of ₹1.16 per share for FY2023. The issue price represents three times the face value of ₹10 per share. BSE India
Objects of the Issue
The ₹5.35 crore Reet Projects IPO is a 100% Fresh Issue of 17,84,000 equity shares. The company proposes to utilise the net proceeds for funding its working capital requirements and general corporate purposes. The Market Maker Reservation Portion comprises 96,000 equity shares. The company proposed to utilise the IPO proceeds for:
- Funding working capital requirements.
- General corporate purposes.
Promoters, Lead Managers & Registrar
Reet Projects Limited is promoted by Hardik Ajitbhai Desai, Kavita Hardik Desai and M/s Nirav Holdings. Fedex Securities Private Limited is the Lead Manager to the Issue, while KFin Technologies Limited is the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | KFin Technologies Limited |
|---|---|
| Phone | +91 40 6716 2222 |
| reetprojects.ipo@kfintech.com | |
| Website | www.kfintech.com |
Reet Projects IPO Review
Reet Projects operates in the real estate development and construction sector, with a primary focus on Bharuch and nearby areas of Gujarat. Its activities cover residential and commercial plotting, row houses, bungalows and other residential and commercial developments. This gives the company exposure to the continuing development of industrial and residential infrastructure in its operating region.
One of the company's key advantages is its focus on the complete real estate development cycle. It can participate in land identification and acquisition, project conceptualisation, planning, execution and marketing. The company can also work with external architects, consultants, contractors and property-service providers for project execution.
The company's FY2023 financial performance improved considerably compared with FY2022. Revenue from operations increased from ₹31.59 crore in FY2022 to ₹80.51 crore in FY2023, while profit after tax increased from ₹0.54 crore to ₹9.27 crore. EBITDA also increased from ₹1.35 crore to ₹12.89 crore during the same period.
At the fixed issue price of ₹30, the FY2023 EPS of ₹0.47 translates into a pre-IPO P/E of approximately 63.83x. This makes valuation an important consideration for investors. The company also faces the normal risks associated with real estate development, including land acquisition, project execution, labour availability, approvals and property-market conditions.
How to Apply
Reet Projects IPO applications can be made through the ASBA/UPI process once the issue opens. The issue price is fixed at ₹30 per share, while the bidding dates and minimum application lot are yet to be announced. Investors should check the final issue documents before applying.
Through UPI
- Log in to your stockbroker app/website.
- Go to the IPO section.
- Select Reet Projects IPO.
- Enter the number of lots you want to apply for.
- Enter the required bid details.
- Enter your valid UPI ID.
- Submit the IPO application.
- Open your UPI app when the mandate request arrives.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Last updated Oct 6, 2026.