Trust Fintech IPO presents a groundbreaking opportunity in the dynamic world of financial technology. This Initial Public Offering, valued at Rs 63.45 crores, signifies the dawn of a new era in digital finance. The issue comprises an exclusive fresh issuance of 62.82 lakh shares, symbolizing the company’s commitment to innovation and growth.
Key Dates and Details:
- Subscription Period: March 26, 2024, to March 28, 2024
- Allotment Finalization: Expected on Tuesday, April 2, 2024
- Tentative Listing Date: Thursday, April 4, 2024
Price Band and Lot Size:
- The IPO’s price band is set at ₹95 to ₹101 per share, catering to a diverse range of investors.
- The minimum lot size for application stands at 1200 shares, ensuring accessibility for interested stakeholders.
- Retail investors are required to invest a minimum of ₹121,200, while High Net Worth Individuals (HNIs) are encouraged to invest in 2 lots, amounting to ₹242,400.
Management and Support:
- Book Running Lead Manager: Corporate Capitalventures Pvt Ltd, a trusted entity in financial advisory services, spearheads the IPO process.
- Registrar: Bigshare Services Pvt Ltd ensures smooth handling of the issue’s administrative tasks.
- Market Maker: Ss Corporate Securities, renowned for its expertise in market making, contributes to the liquidity and stability of Trust Fintech IPO.
Trust Fintech IPO represents more than just a financial opportunity; it symbolizes a commitment to advancing the landscape of financial technology, fostering trust, innovation, and prosperity for investors and stakeholders alike.
Trust Fintech IPO Details
| Trust Fintech IPO Details | |
|---|---|
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | Thursday, April 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹101 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,282,000 shares |
| (aggregating up to ₹63.45 Cr) | |
| Fresh Issue | 6,282,000 shares |
| (aggregating up to ₹63.45 Cr) | |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre-issue | 17,543,200 |
| Shareholding post-issue | 23,825,200 |
| Market Maker portion | 318,000 shares |
| Market Maker | SS Corporate Securities |
Trust Fintech IPO Timeline (Tentative Schedule)
Trust Fintech IPO opens on March 26, 2024, and closes on March 28, 2024.
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Tuesday, April 2, 2024 |
| Initiation of Refunds | Wednesday, April 3, 2024 |
| Credit of Shares to Demat | Wednesday, April 3, 2024 |
| Listing Date | Thursday, April 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Trust Fintech IPO Promoter Holding
| Promoters | Mr. Hemant Padmanabh Chafale, Mr. Sanjay Padmanabh Chafale, Mr. Heramb Ramkrishna Damle, Mr. Anand Shankar Kane, Mr. Mandar Kishor Deo |
| Shareholding Pre-Issue | 93.51% |
| Shareholding Post-Issue | 68.85% |
This table provides a concise view of the Trust Fintech IPO’s promoter holding, highlighting the key figures and stakeholders involved in the offering.
Trust Fintech IPO Reservation
This layout offers a clear breakdown of the shares allocated to each investor category in the Trust Fintech IPO, providing transparency and ease of understanding regarding the distribution of shares among different types of investors.
| Investor Category | Shares Offered | Percentage |
|---|---|---|
| Anchor Investors | Â Â 17,88,000 | Â 28.46% |
| Market Maker | Â Â Â Â 3,18,000 | (5.06%) |
| QIB (Qualified Institutional Buyers) | Â Â Â 11,92,800 | (18.99%) |
| NII (HNI) | Â Â Â Â 8,95,200 | (14.25%) |
| Retail Investors (RII) | Â Â 20,88,000 | (33.24%) |
| Total Shares Offered | Â 62,82,000Â | (100%) |
This layout offers a clear breakdown of the shares allocated to each investor category in the Trust Fintech IPO, providing transparency and ease of understanding regarding the distribution of shares among different types of investors.
Trust Fintech IPO Anchor Investors Details
Trust Fintech IPO successfully raised ₹18.06 crore from anchor investors on March 22, 2024. The anchor portion comprises 1,788,000 shares. Additionally, there are lock-in periods for the shares: 50% of the shares will be unlocked after 30 days, on May 2, 2024, while the remaining shares will be unlocked after 90 days, on July 1, 2024.
| Bid Date | March 22, 2024 |
|---|---|
| Shares Offered | 1,788,000 |
| Anchor Portion Size (In Cr.) | ₹18.06 crore |
| Anchor Lock-in Period End Date for 50% Shares | May 2, 2024 |
| Anchor Lock-in Period End Date for Remaining Shares | July 1, 2024 |
About Trust Fintech Limited
- Establishment: Trust Fintech Limited, founded in 1998, specializes in software development for the BFSI sector.
- Product Offerings: Offers Core Banking Software, IT Solutions, ERP Implementation, Customized Software Solutions Development, SAP B1 integration, and Offshore IT services.
- Banking Products: Provides 10+ banking products catering to commercial, cooperative banks, and financial institutions, including Core Banking, Loan Origination, GST Compliance, Financial Accounting, Billing, and more.
- Product Portfolio: Includes Banking Software and Software as a Service (SaaS), with TrustBankCBS as the flagship web-based software.
- Global Presence: Operates in over 25 countries, serving clients in India, Srilanka, Nepal, California, and several African nations.
- Customer Base: Boasts a global customer base of 200+ BFSI entities, leveraging Core Banking solutions.
- Quality Certifications: Holds ISO 27001:2013 and ISO 9001:2015 certifications, ensuring adherence to quality standards.
- Operations: Headquartered in India, with offices in Nagpur, Pune, and Mumbai, spanning a total area of 1064.42 sq. meters and employing over 250 professionals
Trust Fintech Limited Financial Information (Restated Standalone)
- evenue Growth: Trust Fintech Limited witnessed a notable increase in revenue, soaring by 26.12% from ₹1,800.00 lakhs in the financial year ending March 31, 2022, to ₹2,270.19 lakhs in the financial year ending March 31, 2023.
- Profit After Tax (PAT): The company’s profitability also surged impressively, with profit after tax (PAT) experiencing a remarkable growth of 200.92%, rising from ₹133.66 lakhs in the financial year ending March 31, 2022, to ₹402.21 lakhs in the financial year ending March 31, 2023.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 3,989.43 | 3,118.89 | 1,958.72 | 1,590.01 |
| Revenue | 1,883.13 | 2,270.19 | 1,800.00 | 2,417.94 |
| Profit After Tax | 727.95 | 402.21 | 133.66 | 219.66 |
| Net Worth | 3,446.55 | 2,718.60 | 1,516.39 | 1,382.73 |
| Reserves and Surplus | 2,928.06 | 2,200.11 | 997.90 | 864.25 |
| Total Borrowing | -34.32 | -3.80 | 118.69 | -44.34 |
Here’s a summary of the financial performance for the specified periods:
| Financial Period | Revenue (₹ Lakhs) | Profit After Tax (₹ Lakhs) |
|---|---|---|
| March 31, 2023 | 2,270.19 | 402.21 |
| March 31, 2022 | 1,800.00 | 133.66 |
This data illustrates the significant growth trajectory observed by Trust Fintech Limited in terms of revenue and profitability between the financial years ending March 31, 2022, and March 31, 2023.
Key Performance Indicator
| Market Capitalization | Rs 240.63 Crores |
| Key Performance Indicators (KPIs) | |
| Return on Equity (ROE) | 23.61% |
| Return on Capital Employed (ROCE) | 28.54% |
| Return on Net Worth (RoNW) | 27.51% |
| Price-to-Book Value (P/BV) Ratio | 1.98 |
| Profit After Tax (PAT) Margin (%) | 38.66% |
This table provides a clear and concise overview of Trust Fintech IPO’s market capitalization and key performance indicators as of September 30, 2023.
Objects of the Issue (Trust Fintech IPO Objectives)
The company plans to allocate the net proceeds from the fresh issue towards the following objectives:
- Setting up Additional Development Facility: Funding the establishment of a new development facility, including the installation of fit-outs and interior design works in Nagpur, Maharashtra.
- Investment in IT Infrastructure: Procuring hardware and upgrading IT infrastructure to enhance operational efficiency and support future growth initiatives.
- Product Enhancement and Maintenance: Funding expenditure related to the enhancement, maintenance, and upgrading of existing products to ensure they remain competitive and aligned with market demands.
- Global and Domestic Business Development: Meeting expenses associated with business development, sales, and marketing activities both domestically and globally, to expand market presence and capture new opportunities.
- General Corporate Expenses: Allocation towards general corporate expenses to support day-to-day operations and administrative functions of the company.
These strategic allocations aim to bolster the company’s capabilities, improve its offerings, and drive sustainable growth in both domestic and international markets.
Grey Market Premium on 26.03.2024
Trust Fintech is currently commanding a notable grey market premium, ranging between Rs 40-41 per share. This suggests a potential listing pop of approximately 40-41% over the upper end of the price band.
| Grey Market Premium | Rs 40-41 per share |
|---|---|
| Potential Listing Pop | Approximately 40-41% |
This tabular format provides a clear and concise representation of Trust Fintech’s grey market premium and the potential listing pop.
Such a significant premium indicates strong investor interest and anticipation for the company’s IPO debut on the exchange. It reflects optimistic market sentiments and underscores the potential for substantial gains for early investors upon listing.
