Bookbuilding IPO | ₹63 Cr | Listed at NSE SME | Tue, Mar 26, 2024 - Thu, Mar 28, 2024
Trust Fintech IPO is a book build issue of ₹63.45 crores. The issue is entirely a fresh issue of 0.63 crore shares of ₹63.45 crore.
Trust Fintech IPO bidding started from Mar 26, 2024 and ended on Mar 28, 2024. The allotment for Trust Fintech IPO was finalized on Apr 2, 2024. The shares got listed on NSE SME on Apr 4, 2024.
Trust Fintech IPO price band is set at ₹101 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,21,200 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,42,400.
Corporate Capitalventures Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Trust Fintech IPO RHP for detailed Information.
IPO Open
Tue, Mar 26, 2024
IPO Close
Thu, Mar 28, 2024
Issue Price
₹101 per share
Market Cap (Pre-IPO)
₹240.63 Cr
| IPO Date | 26 to 28 Mar, 2024 |
| Listed on | Thu, Apr 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹101 |
| Issue Price | ₹101 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 62,82,000 shares (agg. up to ₹63 Cr) |
| Reserved for Market Maker | 3,18,000 shares SS Corporate Securities Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 59,64,000 shares (agg. up to ₹60 Cr) |
| Net Offered to Public | 59,64,000 shares (agg. up to ₹60 Cr) |
| Share Holding Pre Issue | 1,75,43,200 shares |
| Share Holding Post Issue | 2,38,25,200 shares |
| NSE Symbol | TRUST |
| ISIN | INE0SWN01019 |
Trust Fintech IPO comprises a total issue size of 62,82,000 shares. The net offer to the public is 59,64,000 shares, after excluding 3,18,000 shares allotted on a firm basis. Of the Net offer 29,80,800 (49.98%) are allocated to QIB, 8,95,200 (15.01%) allocated to NII 20,88,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 29,80,800 | 49.98% | 47.45% |
| − Anchor Investor Shares Offered | 17,88,000 | 28.46% | |
| − QIB (Ex. Anchor) Shares Offered | 11,92,800 | 18.99% | |
| NII (HNI) Shares Offered | 8,95,200 | 15.01% | 14.25% |
| Retail Shares Offered | 20,88,000 | 35.01% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,18,000 | 5.06% | |
| Total Shares Offered | 62,82,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,21,200 |
| Retail (Max) | 1 | 1,200 | ₹1,21,200 |
| HNI (Min) | 2 | 2,400 | ₹2,42,400 |
Trust Fintech IPO raises ₹18.06 crore from anchor investors. Trust Fintech IPO Anchor bid date is March 22, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 22, 2024 |
| Shares Offered | 17,88,000 |
| Anchor Portion (₹ Cr.) | 18.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, May 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jul 1, 2024 |
Incorporated in 1998, Trust Fintech Limited is a software development company that specializes in providing Core Banking Software, IT Solutions, ERP Implementation, Customized Software Solutions Development, SAP B1, and Offshore IT services for the BFSI sector.
The company offers 10+ banking products for commercial, cooperative banks, and financial institutions. These include Core Banking, Loan Origination, GST Compliance, Financial Accounting, Billing, SAP B1 services, add-on modules for statutory report generation, ATM reconciliation, anti-money laundering, agency banking, and mobile banking.
The company's product portfolio consists of
The Flagship product of the company TrustBankCBS is a web-based software, and it is available "on-premises with infrastructure", i.e. it offers the flexibility to the customer to deploy TrustBankCBS on their own premises with customized infrastructure.
The company has provided services in India, Srilanka, Nepal, California, Ghambia, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe, and few more countries.
It has a global footprint in more than 25 countries and a global customer base of more than 200 BFSI with Core Banking.
The company has obtained various quality certifications, such as ISO 27001:2013 and ISO 9001:2015.
The organization operates through offices in Nagpur, Pune, and Mumbai, with a total area of 1064.42 sq. meters and more than 250 employees.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 39.89 | 31.19 | 19.59 | 15.90 |
| Total Income | 18.83 | 22.70 | 18.00 | 24.18 |
| Profit After Tax | 7.28 | 4.02 | 1.34 | 2.20 |
| NET Worth | 34.47 | 27.19 | 15.16 | 13.83 |
| Reserves and Surplus | 29.28 | 22.00 | 9.98 | 8.64 |
| Total Borrowing | -0.34 | -0.04 | 1.19 | -0.44 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To Setup additional Development facility, instalment of fit outs and interior design works in Nagpur, Maharashtra | 15.19 |
| 2 | Investment in Procuring Hardware and upgrading IT infra | 3.00 |
| 3 | Funding for expenditure related to enhancement and upgrading existing Product | 15.00 |
| 4 | To meet out the Global & Domestic Business Development, Sales and Marketing expenses for the company | 9.03 |
| 5 | General Corporate Expenses * | 13.98 |
| KPI | Sep 30, 2023 |
|---|---|
| ROE | 23.61% |
| ROCE | 28.54% |
| RoNW | 27.51% |
| PAT Margin | 38.66% |
| Price to Book Value | 1.98 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.29 | 6.11 |
| P/E (x) | 44.05 | 16.53 |
| Promoter Holding | 93.51% | 68.85% |
| Market Cap | ₹240.63 Cr. |
The Trust Fintech IPO is subscribed 108.63 times on March 28, 2024 7:30:31 PM (Day 3). The public issue subscribed 75.1 times in the retail category, 65.38 times in the QIB category, and 244.48 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 65.38 | 11,92,800 | 7,79,82,000 |
| NII* | 244.48 | 8,95,200 | 21,88,57,200 |
| Retail | 75.1 | 20,88,000 | 15,67,99,200 |
| Total | 108.63 | 41,76,000 | 45,36,38,400 |
Total Application : 1,30,666
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager fees | 0.15 |
| 2 | Underwriting commission | 3.17 |
| 3 | Brokerage and Selling commission | 3.17 |
| 4 | Advertising and marketing expenses | 0.20 |
| 5 | Fees payable to Registrar to the Issue | 0.07 |
| 6 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | |
| 7 | Processing fees to the SCSBs and to the Sponsor Banks for ASBA Forms procured by Registered Brokers, RTAs or CDPs | 0.02 |
| 8 | Printing and distribution of issue stationery: Listing fees | 0.01 |
| 9 | Printing and distribution of issue stationery: NSE Processing | 0.00 |
| 10 | Printing and distribution of issue stationery: Post issue related expenses | 0.04 |
| 11 | Printing and distribution of issue stationery: Others | 0.03 |
| 12 | Fees payable to legal counsel | 0.01 |
| 13 | Miscellaneous | 0.40 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹101.00 |
| Open | ₹143.25 |
| Low | ₹136.20 |
| High | ₹150.40 |
| Last Trade | ₹150.40 |
Lead Manager Reports
Trust Fintech IPO is a SME IPO of 62,82,000 equity shares of the face value of ₹10 aggregating up to ₹63 Crores. The issue is priced at ₹101 per share. The minimum order quantity is 1200.
The IPO opens on Tue, Mar 26, 2024, and closes on Thu, Mar 28, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Trust Fintech IPO using UPI as a payment gateway. Zerodha customers can apply in Trust Fintech IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Trust Fintech IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Trust Fintech IPO opens on Tue, Mar 26, 2024 and closes on Thu, Mar 28, 2024.
Trust Fintech IPO lot size is 1200, and the minimum amount required for application is ₹1,21,200.
You can apply in Trust Fintech IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Trust Fintech IPO will be done on Tuesday, April 2, 2024, and the allotted shares will be credited to your demat account by Wed, Apr 3, 2024. Check the Trust Fintech IPO allotment status.
The Trust Fintech IPO listing date is on Thu, Apr 4, 2024.
