Trust Fintech IPO: Issue To Open On 26th March, Price Band At Rs. 95–101; GMP Jumps 40%

The initial public offering (IPO) of Trust Fintech Limited, a top supplier of fintech software solutions with a focus on SaaS products, is scheduled to begin on Tuesday, March 26, 2024. The issue will close on Thursday, March 28, 2024, while the anchor bidding process will open on Friday, March 22, 2024. The Trust Fintech IPO is a Rs 63.45 crore book-built offering which includes a completely fresh issue of 62.82 lakh shares. On Tuesday, April 2, 2024, the allocation of shares for the Trust Fintech IPO is anticipated to be completed. The proposed listing date for the Trust Fintech IPO is Thursday, April 4, 2024, and it will take place on NSE SME.

The price band for the Trust Fintech IPO is Rs 95 to Rs 101 per share, with a minimum lot size requirement of 1200 shares for an application. For regular investors, the minimum investment amount required is Rs 121,200, whereas for HNIs, the minimum investment amount is 2 lots, or 2,400 shares, totalling Rs 242,400 for a minimum bid.
The Trust Fintech IPO's book-running lead manager is Corporate Capitalventures Pvt Ltd, and the issue's registrar is Bigshare Services Pvt Ltd. As for the Trust Fintech IPO DRHP, Ss Corporate Securities is the market maker.

The IPO of the Nagpur-based firm will consist of a new book-building offer of 62,82,000 equity shares with a face value of Rs. 10/-. 3.18 lakh equity shares are set aside for market makers, 8.95 lakh equity shares have been reserved for HNIs, 11.92 lakh equity shares are set aside for QIBs, and 20.88 lakh equity shares are part of the retail (RII) segment.

According to the RHP document, the company aims to utilise net proceeds from the IPO to set up a new development facility at Mihan SEZ in Nagpur, procure hardware and upgrade IT infrastructure, to enhance, maintain, upgrade existing products, fund its global and domestic business development, sales and marketing expenses and general corporate expenses.

The firm ended the first half of the current fiscal year on September 30, 2023, with revenue of Rs. 18.82 crore and profit (PAT) of Rs. 7.27 crore. In FY 2022-23, it reported revenue of Rs. 22.54 crore and profit (PAT) of Rs. 4.02 crore.

For the BFSI industry, the firm offers offshore IT services, SAP B1, ERP implementation, customized software solutions development, and fintech software solutions related to core banking SaaS products. The latest GMP of Trust Fintech SME IPO, as of March 24, 2024, 01:32 PM, was Rs 40. The projected listing price of the Trust Fintech SME IPO, considering the upper price band of Rs 101.00, is Rs 141 (cap price + today's GMP). According to data posted on investorgain.com, Trust Fintech is thus anticipated to be listed at a premium of 39.60% based on its current GMP.

The initial public offering (IPO) of Trust Fintech Limited, a top supplier of fintech software solutions with a focus on SaaS products, is scheduled to begin on Tuesday, March 26, 2024. The issue will close on Thursday, March 28, 2024, while the anchor bidding process will open on Friday, March 22, 2024. The Trust Fintech IPO is a Rs 63.45 crore book-built offering which includes a completely fresh issue of 62.82 lakh shares. On Tuesday, April 2, 2024, the allocation of shares for the Trust Fintech IPO is anticipated to be completed. The proposed listing date for the Trust Fintech IPO is Thursday, April 4, 2024, and it will take place on NSE SME.

The price band for the Trust Fintech IPO is Rs 95 to Rs 101 per share, with a minimum lot size requirement of 1200 shares for an application. For regular investors, the minimum investment amount required is Rs 121,200, whereas for HNIs, the minimum investment amount is 2 lots, or 2,400 shares, totalling Rs 242,400 for a minimum bid.
The Trust Fintech IPO's book-running lead manager is Corporate Capitalventures Pvt Ltd, and the issue's registrar is Bigshare Services Pvt Ltd. As for the Trust Fintech IPO DRHP, Ss Corporate Securities is the market maker.

The IPO of the Nagpur-based firm will consist of a new book-building offer of 62,82,000 equity shares with a face value of Rs. 10/-. 3.18 lakh equity shares are set aside for market makers, 8.95 lakh equity shares have been reserved for HNIs, 11.92 lakh equity shares are set aside for QIBs, and 20.88 lakh equity shares are part of the retail (RII) segment.

According to the RHP document, the company aims to utilise net proceeds from the IPO to set up a new development facility at Mihan SEZ in Nagpur, procure hardware and upgrade IT infrastructure, to enhance, maintain, upgrade existing products, fund its global and domestic business development, sales and marketing expenses and general corporate expenses.

The firm ended the first half of the current fiscal year on September 30, 2023, with revenue of Rs. 18.82 crore and profit (PAT) of Rs. 7.27 crore. In FY 2022-23, it reported revenue of Rs. 22.54 crore and profit (PAT) of Rs. 4.02 crore.

For the BFSI industry, the firm offers offshore IT services, SAP B1, ERP implementation, customized software solutions development, and fintech software solutions related to core banking SaaS products. The latest GMP of Trust Fintech SME IPO, as of March 24, 2024, 01:32 PM, was Rs 40. The projected listing price of the Trust Fintech SME IPO, considering the upper price band of Rs 101.00, is Rs 141 (cap price + today's GMP). According to data posted on investorgain.com, Trust Fintech is thus anticipated to be listed at a premium of 39.60% based on its current GMP.