Trust Fintech Limited IPO
NSE SMEListed On: Apr 4, 2024 at ₹ 143.25
₹ 242400 /2400 Shares
*Min Investment
26 Mar, 2024
Open Date28 Mar, 2024
Close Date02 Apr, 2024
Allotment Date04 Apr, 2024
Listing DateTrust Fintech Limited IPO Issue Details
- Issue Price ₹95-101 per equity share
- Face Value ₹10 Per Equity Share
- Total Issue Size 62,82,000 shares(aggregating up to ₹63.45 crore)
- Fresh Share 62,82,000 shares(aggregating up to ₹63.45 crore)
- Listing at NSE SME
- List Price 143.25
- Listing Date 2024-04-04
- Lead Manager Corporate Capitalventures Pvt Ltd
- Registrar Bigshare Services Pvt Ltd
Market Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1200 | ₹1,21,200 |
| Retail(max) | 1 | 1200 | ₹1,21,200 |
| NII (min) | 2 | 2,400 | ₹2,42,400 |
Trust Fintech Limited IPO Reservation
Trust Fintech Limited IPO offers total 6,282,000 shares. Out of which 1,192,800 (18.99%) allocated to QIB, 895,200 (14.25%) allocated to NII,2,088,000 (33.24%) allocated to RII, NA (NA%) allocated to employees and 1,788,000 (28.46%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 1,788,000 (28.46%) | |
| Market Maker Shares Offered | 318,000 (5.06%) | |
| QIB Shares Offered | 1,192,800 (18.99%) | |
| NII (HNI) Shares Offered | 895,200 (14.25%) | |
| Retail Shares Offered | 2,088,000 (33.24%) | |
| Total Shares Offered | 6,282,000 (100%) |
Trust Fintech Limited IPO Details
Trust Fintech Limited IPO is an SME IPO, priced at ₹95-101 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 62,82,000 equity shares, aggregating up to ₹63.45 crores..
The IPO bidding window is open from Mar 26, 2024 to Mar 28, 2024. The allotment is expected to be finalized on Apr 2, 2024, and the tentative listing date is Apr 4, 2024.
The minimum lot size for Retail investors is 1200 shares, with a minimum investment of ₹1,21,200. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,42,400.
Corporate Capitalventures Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Ss Corporate Securities Limited will act as the market maker for this issue.
Trust Fintech Limited IPO Subscription Analysis And Details
| As on | QIB / NII | Retail | Total |
|---|---|---|---|
| Shares Offered / Reserved | 1,192,800 / 895,200 | 2,088,000 | 4,176,000 |
Day 1 26-03-24 06:00 PM | 0.00 / 2.74 x | 5.51 x | 3.34 x |
Day 2 27-03-24 06:00 PM | 0.32 / 14.54 x | 18.18 x | 12.30 x |
Day 3 28-03-24 06:00 PM | 65.38 / 244.48 x | 75.10 x | 108.63 x |
Trust Fintech Limited Valuations
Trust Fintech Limited Company Financials
| 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | |
|---|---|---|---|
| Assets | 3,118.89 | 1,958.72 | 1,590.01 |
| Revenue | 2,270.19 | 1,800.00 | 2,417.94 |
| Profit After Tax | 402.21 | 133.66 | 219.66 |
About Trust Fintech Limited Company
Trust Fintech Ltd. was incorporated in 1998. The company develops software for various core banking solutions, IT solutions, ERP implementation, customized software solutions development, SAP B1, and offshore IT services for the BFSI sector.
It offers more than 10+ products of banking solutions for commercial, cooperative banks, and financial institutions. It consists of 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.
Its product portfolio mainly consists of:
Banking Software
Software as a Service
Flagship product of the company TrustBankCBS is a web-based software, which 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 service was provided by the company in India, Sri Lanka, Nepal, California, Gambia, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe, and a few more countries.It has footprints across more than 25 countries and a global customer base of over 200 BFSI with core banking.
The firm has acquired many quality certifications, including ISO 27001:2013 and ISO 9001:2015.
Operations are carried out through offices in Nagpur, Pune, and Mumbai, and it boasts a total area of 1064.42 sq. meters with more than 250 employees.
Trust Fintech Limited - Promoter(s)
Mr. Hemant Padmanabh Chafale, Mr. Sanjay Padmanabh Chafale, Mr. Heramb Ramkrishna Damle, Mr. Anand Shankar Kane and Mr. Mandar Kishor Deo.
Pre Issue Share Holding : 93.51%
Post Issue Share Holding : 68.85%
Trust Fintech Limited IPO - Issue Objectives
To Setup additional Development facility, instalment of fit outs and interior design works in Nagpur, Maharashtra.
Investment in procuring hardware and upgrading IT infra
Funding of expenditure related to enhancement, maintenance and upgrading existing Product
To meet the Global & Domestic Business Development, Sales and Marketing expenses for the company
General Corporate Expenses
Trust Fintech Limited IPO - Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Trust Fintech Limited | 14.04 | 14.04 | 51.04 | N/A | 27.51 | N/A | Standalone |
| Network People Services Technologies Limited | 15.72 | 15.72 | 59.58 | 17.18 | 30.18 | N/A | Standalone |
| Veefin Solutions Ltd | 0.17 | 0.17 | 31.11 | 220.95 | 0.79 | N/A | Standalone |
Notes:
- P/E calculation based on annualised EPS reported in September 2023 financials and closing market price prevailing for Veefin Solutions Limited and Network People Services Technologies Limited on result declaration date, i.e., November 6, 2023, and October 20, 2023, respectively.
- There are no close peer companies of Trust Fintech Limited, as none of the listed companies in this space deal in core banking products. However, for comparison purposes, the captioned companies engaged in Fintech businesses have been included.
- P/E Ratio has been computed based on the closing market price of equity shares on the result declaration date divided by the Basic EPS.
- Return on Net Worth (RoNW) is computed as net profit after tax divided by the closing net worth, where net worth is calculated as the sum of share capital, reserves, and surplus.
- NAV is computed as the closing net worth divided by the closing outstanding number of equity shares.
Contact Details
Trust Fintech Limited
Plot No. 11/4, I.T. Park, Gayatri Nagar Parsodi, Nagpur- 440022
+91 - 9909647348
Registrar Contact Details
Bigshare Services Pvt Ltd
+91-22-6263 8200
Trust Fintech Limited IPO - FAQs
Ans. Trust Fintech Limited IPO is a SME IPO. The issue is priced at ₹95-101 per equity share. The minimum order quantity is 1200 Shares. The IPO opens on Mar 26, 2024, and closes on Mar 28, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Ans. The Trust Fintech Limited IPO opens on Mar 26, 2024 and closes on Mar 28, 2024.
Ans. You can track the real-time subscription numbers using the links below:
Ans. The size of Trust Fintech Limited IPO is 6,282,000 shares(aggregating up to ₹63.45 Cr).
Ans. The Trust Fintech Limited IPO price band is set between ₹95-101 per equity share.
Ans. To apply for Trust Fintech Limited IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Trust Fintech Limited IPO in the List of IPOs
- - Press Apply Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Trust Fintech Limited IPO is Apr 2, 2024.
Ans. The Trust Fintech Limited IPO will be listed on Apr 4, 2024.
Ans. Follow the steps to check the Trust Fintech Limited IPO allotment status online.
