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Trust Fintech IPO is a book built issue of Rs 63.45 crores. The issue is entirely a fresh issue of 62.82 lakh shares.
Trust Fintech IPO bidding started from March 26, 2024 and ended on March 28, 2024. The allotment for Trust Fintech IPO was finalized on Tuesday, April 2, 2024. The shares got listed on NSE SME on April 4, 2024.
Trust Fintech IPO price band is set at ₹95 to ₹101 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹121,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹242,400.
Corporate Capitalventures Pvt Ltd is the book running lead manager of the Trust Fintech IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Trust Fintech IPO is Ss Corporate Securities.
Refer to Trust Fintech IPO RHP for detailed information.
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | 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 |
| Share holding pre issue | 17,543,200 |
| Share holding post issue | 23,825,200 |
| Market Maker portion | 318,000 shares Ss Corporate Securities |
Trust Fintech IPO offers 6,282,000 shares. 1,192,800 (18.99%) to QIB, 895,200 (14.25%) to NII, 2,088,000 (33.24%) to RII and 1,788,000 (28.46%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| 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 IPO raises Rs 18.06 crore from anchor investors. Trust Fintech IPO Anchor bid date is March 22, 2024. Trust Fintech IPO Anchor Investors list
| Bid Date | March 22, 2024 |
| Shares Offered | 1,788,000 |
| Anchor Portion Size (In Cr.) | 18.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 1, 2024 |
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 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below 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 | ₹121,200 |
| Retail (Max) | 1 | 1200 | ₹121,200 |
| HNI (Min) | 2 | 2,400 | ₹242,400 |
| Lot Size Calculator | |||
The promoters of the company are Mr. Hemant Padmanabh Chafale, Mr. Sanjay Padmanabh Chafale, Mr. Heramb Ramkrishna Damle, Mr. Anand Shankar Kane and Mr. Mandar Kishor Deo.
| Share Holding Pre Issue | 93.51% |
| Share Holding Post Issue | 68.85% |
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.
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 | ||||
The market capitalization of Trust Fintech IPO is Rs 240.63 Cr.
KPI as of September 30, 2023.
| KPI | Values |
|---|---|
| ROE | 23.61% |
| ROCE | 28.54% |
| RoNW | 27.51% |
| P/BV | 1.98 |
| PAT Margin (%) | 38.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.29 | 6.11 |
| P/E (x) | 44.05 | 16.53 |
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects :
[Dilip Davda] The company enjoys niche place in BFSI segment with its timely and tested solutions/products. It posted inconsistency in its top and bottom lines from FY21-FY23. BFSI solutions segment has turned highly competitive with many players around. Based on FY24 annualized super earnings, the issue appears reasonably priced, while on FY23 earnings basis, its overpriced. The sustainability of margins posted for H1-FY24 raise concern over its sustainability. However, investors may park funds for the medium to long term rewards. Read detail review...
The Trust Fintech IPO is subscribed 108.63 times on March 28, 2024 7:30:31 PM. The public issue subscribed 75.10 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) |
|---|---|
| QIB | 65.38 |
| NII | 244.48 |
| Retail | 75.10 |
| Total | 108.63 |
Total Application : 130,666 (75.10 times)
| Listing Date | April 4, 2024 |
| BSE Script Code | |
| NSE Symbol | TRUST |
| ISIN | INE0SWN01019 |
| Final Issue Price | ₹101 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹101.00 |
| ₹143.25 |
| ₹136.20 |
| ₹150.40 |
| ₹150.40 |
Trust Fintech Limited
Plot No. 11/4, I.T. Park,
k, Gayatri Nagar Parsodi,
Nagpur- 440022
Phone: +91 - 9909647348
Email: cs@softtrust.com
Website: https://www.softtrust.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Trust Fintech IPO is a SME IPO of 6,282,000 equity shares of the face value of ₹10 aggregating up to ₹63.45 Crores. The issue is priced at ₹95 to ₹101 per share. The minimum order quantity is 1200 Shares.
The IPO opens on March 26, 2024, and closes on March 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 March 26, 2024 and closes on March 28, 2024.
Trust Fintech IPO lot size is 1200 Shares, and the minimum amount required is ₹121,200.
You can apply in Trust Fintech IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, 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 Wednesday, April 3, 2024. Check the Trust Fintech IPO allotment status.
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