Trust Fintech Limited IPO Detail
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
- Banking Software
- Software as a Service
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.
Company Promoters
Mr. Hemant Padmanabh Chafale, Mr. Sanjay Padmanabh Chafale, Mr. Heramb Ramkrishna Damle, Mr. Anand Shankar Kane and Mr. Mandar Kishor Deo.IPO Details
| IPO Opening Date | Mar 26, 2024 |
| IPO Closing Date | Mar 28, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹95 - 101 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹63.45 Cr |
| Fresh Issue | ₹63.45 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 2.74x | 5.51x | 3.34x |
| Day 2 | 0.32x | 0.00x | 0.00x | 14.21x | 18.44x | 12.36x |
| Day 3 | 65.38x | 0.00x | 0.00x | 244.48x | 75.10x | 108.63x |
IPO Tentative Timetable
The Trust Fintech Limited IPO open date is Mar 26, 2024, and the close date is Mar 28, 2024. The issue may list on Apr 03, 2024.
| IPO Open Date | Mar 26, 2024 |
| IPO Close Date | Mar 28, 2024 |
| Basis of Allotment Date | Apr 01, 2024 |
| Initiation of Refunds | Apr 02, 2024 |
| Credit of Shares to Demat Account | Apr 02, 2024 |
| IPO Listing Date | Apr 03, 2024 |
IPO Lot Size
The Trust Fintech Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹121200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹121200 |
| Maximum | 1 | 1200 | ₹121200 |
IPO Promoter Holding
| Pre Issue Share Holding | 93.51% |
| Post Issue Share Holding | 68.85% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 1590.01 | 2417.94 | 219.66 |
| 31-Mar-22 | 1958.72 | 1800.00 | 133.66 |
| 31-Mar-23 | 3118.89 | 2270.19 | 402.21 |
| 30-Sep-23 | 3989.43 | 1883.13 | 727.95 |
Objects of the Issue:
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects :
- 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; and
- General Corporate Expenses
Trust Fintech Limited IPO Registrar:
Bigshare Services Pvt Ltd
Trust Fintech Limited IPO Lead Manager(s):
Corporate Capitalventures Pvt Ltd
Company Contact Information:
Trust Fintech Limited
Plot No. 11/4, I.T. Park,
k, Gayatri Nagar Parsodi,
Nagpur- 440022
