Trust Fintech Limited IPO : Should You Subscribe | Key Dates | BID Size & Price | GMP | Listing Date | Share Market | Finance | India

Trust Fintech Limited IPO : Should You Subscribe | Key Dates | BID Size & Price | GMP | Listing Date | Share Market | Finance | India | The Amit Gahlyan

The Initial Public Offering (IPO) of Trust Fintech Limited has garnered significant attention in the financial markets, with investors keenly looking at the details of the offering. The IPO is a book-built issue with a total value of Rs 63.45 crores, comprising an entirely fresh issuance of 62.82 lakh shares. The price band for the IPO has been set in the range of ₹95 to ₹101 per equity share of face value of ₹10 each.

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The company opened its IPO for subscription on March 26, 2024, and it will close on March 28, 2024. The allotment is expected to be finalized by April 2, 2024, with a tentative listing date on the NSE SME platform set for April 4, 2024. Trust Fintech Limited has raised Rs 18.05 crore by allocating nearly 1.8 million shares at Rs 101 to anchor investors prior to the IPO.

Investors can bid for a minimum of 1200 shares and in multiples thereof, with the minimum amount of investment required by retail investors being ₹121,200. For High Net-worth Individuals (HNIs), the minimum lot size investment is 2 lots (2,400 shares) amounting to ₹242,400.

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The Nagpur-based software as a service (SaaS) company primarily provides core banking software solutions to the BFSI sector. Its flagship product, TrustBankCBS, serves medium to large banks and financial institutions, while MicroFinS caters to small and growing co-operative societies and others. The company's other services include software for loan origination, GST compliance, financial accounting and billing software, ATM reconciliation, anti-money laundering, agency banking, mobile banking, among others.

The objectives of the IPO include setting up an additional development facility and installation of fit-outs and interior design works in Nagpur, Maharashtra. This move is expected to enhance the company's capacity to serve its clients more efficiently and support its growth trajectory.

The IPO has also seen a strong grey market premium ( GMP ), indicating a positive sentiment among investors about the company's prospects. This reflects the trust and confidence investors have in Trust Fintech Limited's business model and its potential for growth.

For those interested in participating in the IPO, it is crucial to review the company's financials, understand the risks involved, and consider the investment's alignment with their financial goals. As with any investment, due diligence is key, and consulting with a financial advisor is advisable.

For more detailed information, investors can refer to the company's Red Herring Prospectus (RHP) and stay updated with the latest news and developments regarding the IPO.

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