Trust Fintech IPO vs Zenith Drugs IPO

Comparision between Trust Fintech IPO and Zenith Drugs IPO.

IPO Details

Trust Fintech IPO is a SME Book Built Issue IPO proposed to list at NSE SME while Zenith Drugs IPO is a SME Book Built Issue proposed to list at NSE SME.

	Trust Fintech IPO	Zenith Drugs IPO
Logo
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	NSE SME	NSE SME
Lead Managers	Corporate Capitalventures Pvt Ltd	Gretex Corporate Services Limited
Registrar	Bigshare Services Pvt Ltd	Bigshare Services Pvt Ltd
Market Maker	Ss Corporate Securities Limited	Gretex Share Broking Private Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Trust Fintech IPO is up to ₹63.45 Cr whereas the issue size of the Zenith Drugs IPO is up to ₹40.68 Cr. The final issue price of Trust Fintech IPO is ₹101.00 per share and of Zenith Drugs IPO is ₹79.00 per share.

	Trust Fintech IPO	Zenith Drugs IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹95.00 per share	₹75.00 per share
Issue Price (Upper)	₹101.00 per share	₹79.00 per share
Issue Price (Final)	₹101.00 per share	₹79.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	1200 shares	1600 shares
Fresh Issue Size	62,82,000 shares	51,48,800 shares
Fresh Issue Size (Amount)	up to ₹63.45 Cr	up to ₹40.68 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	62,82,000 shares	51,48,800 shares
Issue Size Total (Amount)	up to ₹63.45 Cr	up to ₹40.68 Cr

IPO Timetable

Trust Fintech IPO opens on Mar 26, 2024, while Zenith Drugs IPO opens on Feb 19, 2024. The closing date of Trust Fintech IPO and Zenith Drugs IPO is Mar 28, 2024, and Feb 22, 2024, respectively.

	Trust Fintech IPO	Zenith Drugs IPO
Anchor Bid Date	Mar 22, 2024	Feb 16, 2024
Issue Open	Mar 26, 2024	Feb 19, 2024
Issue Close	Mar 28, 2024	Feb 22, 2024
Basis Of Allotment (Tentative)	Apr 02, 2024	Feb 23, 2024
Initiation of Refunds (Tentative)	Apr 03, 2024	Feb 26, 2024
Credit of Share (Tentative)	Apr 03, 2024	Feb 26, 2024
Listing date (Tentative)	Apr 04, 2024	Feb 27, 2024
Anchor Lockin End date 1	May 02, 2024	Mar 24, 2024
Anchor Lockin End date 2	Jul 01, 2024	May 23, 2024

Financials

Trust Fintech IPO P/E ratio is 44.05, as compared to Zenith Drugs IPO P/E ratio of 18.4.

Trust Fintech IPO

Zenith Drugs IPO

Financial

Trust Fintech Limited Financial Information (Restated Standalone)

Trust Fintech Limited's revenue increased by 26.12% and profit after tax (PAT) rose by 200.92% between the financial year ending with March 31, 2023 and March 31, 2022.

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
Amount in ₹ Lakhs

Zenith Drugs Limited Financial Information (Restated Consolidated)

Zenith Drugs Limited's revenue increased by 24.85% and profit after tax (PAT) rose by 64.7% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022
Assets	11,249.04	9,793.83	6,858.47
Revenue	6,948.43	11,569.65	9,266.63
Profit After Tax	539.38	515.29	312.86
Net Worth	2,264.96	1,724.42	1,209.09
Reserves and Surplus	1,064.96	1,684.42	1,169.09
Total Borrowing	2,902.81	2,605.03	1,880.86
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

93.51%

100.00%

Promoter Shareholding (Post-Issue)

68.85%

69.98%

P/E Ratio

44.05

18.4

Market Cap

₹240.63 Cr.

₹135.48 Cr.

ROE

23.61%%

35.13%%

ROCE

28.54%%

37.29%%

Debt/Equity

1.51

EPS

₹2.29

₹4.29

RoNW

27.51%%

29.88%%

Shares Offered

In the Trust Fintech IPO retail investors (RII) are offered 20,88,000 shares while in Zenith Drugs IPO retail investors are offered 20,88,000 shares. Qualified institutional buyers (QIB) are offered 11,92,800 shares in Trust Fintech IPO and 8,59,200 shares in Zenith Drugs IPO.

	Trust Fintech IPO	Zenith Drugs IPO
Anchor Investor Reserveration	17,88,000 shares	12,88,000 shares
Market Maker Reserveration	3,18,000 shares	8,52,800 shares
QIB	11,92,800 shares	8,59,200 shares
NII	8,95,200 shares	6,44,800 shares
RII	20,88,000 shares	15,04,000 shares
Employee	0 shares	0 shares
Others
Total	41,76,000 shares	30,08,000 shares

Bids Received (Subscription)

Trust Fintech IPO subscribed 108.63x in total, whereas Zenith Drugs IPO subscribed 179.18x.

	Trust Fintech IPO	Zenith Drugs IPO
QIB (times)	65.38x	106.72x
NII (times)	244.48x	368.77x
Big NII (times)
Small NII (times)
RII (times)	75.10x	139.28x
Employee (times)
Other (times)
Total (times)	108.63x	179.18x

Compare with others

Trust Fintech IPO	Zenith Drugs IPO
Purv Flexipack IPO	M.V.K. Agro Food IPO
Sadhav Shipping IPO	Owais Metal and Mineral Processing IPO
Deem Roll Tech IPO	Purv Flexipack IPO
Zenith Drugs IPO	Sadhav Shipping IPO
Esconet Technologies IPO	Deem Roll Tech IPO
Interiors and More IPO	Esconet Technologies IPO
Atmastco IPO	Trust Fintech IPO
Thaai Casting IPO	Interiors and More IPO
Kalahridhaan Trendz IPO	Atmastco IPO
Polysil Irrigation Systems IPO	Thaai Casting IPO

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