Trust Fintech IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

Q: What minimum lot size can retail investors subscribe to?

The lot size for the IPO will be 1,200 shares per lot .

IPO Details

Bidding Dates

25 Mar '24 - 27 Mar '24

Minimum Investment

₹121,200 / 1 Lots ( 1200 Shares )

Price Range

₹95 - ₹101

Maximum Investment

₹121,200 / 1 Lots ( 1200 Shares )

Retail Discount

Not Applicable

Issue Size

₹63.45 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Mar 25, 2024

IPO Closing Date

Mar 27, 2024

Basis of Allotment

Apr 1, 2024

Initiation of Refunds

Apr 2, 2024

Credit of Shares to Demat

Apr 2, 2024

Listing Date

Apr 3, 2024

Cut-off time for UPI mandate confirmation

Mar 27, 2024

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Mar 26, 2024	0.32x	14.19x	18.30x	12.29x
Day 2Mar 25, 2024	0.00x	2.74x	5.51x	3.34x

IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutional Buyers	0.32
Non-Institutional Buyers	2.73x
Retail Investors	14.19
Total	12.29

About Trust Fintech Ltd

Trust Fintech Limited is a Nagpur-based SaaS product-focused company which has carved a niche in providing Core Banking Software, IT Solutions, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services for the BFSI sector.

They have invested in developing banking-related products for Commercial and Cooperative Banks and Financial Institutions. These include Core Banking Software, Loan Origination software, GST compliance software, Financial Accounting and Billing Software, GST Suvidha provider, SAP B1 Services, various add-on modules for Statutory Report Generation, ATM Reconciliation, Anti-Money Laundering, Agency Banking, Mobile Banking leveraging end to end solutions to address the evolving needs of banking solutions.

The global core banking software market size was valued at $12.51 billion in 2022. The market is projected to grow from $14.54 billion in 2023 to $47.37 billion by 2030, exhibiting a CAGR of 18.4% during the forecast period. The expansion of the industry can help the growth of organisations like Trust Fintech.

Trust Fintech Ltd IPO Details

Trust Fintech Ltd IPO Dates

The dates for bidding for the Trust Fintech IPO are March 26, 2024 to March 28, 2024.

Trust Fintech Ltd IPO Price Band

Trust Fintech is a book-built IPO. The exact price is ₹95 to ₹101 per share.

Trust Fintech Ltd IPO Lot Size

The Trust Fintech Ltd IPO lot size is 1,200 shares per lot.

Trust Fintech Ltd IPO Objectives

The net proceeds from the IPO are proposed to be utilised towards the following objectives:

To set up 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 Products.
To meet Business Development, Sales and Marketing expenses for the company.
General corporate expenses.

Peer Details

The following are the listed peers of Trust Fintech in India:

Network People Services Technologies Limited
Veefin Solutions Limited

How To Check the Allotment Status of the Trust Fintech Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Trust Fintech Ltd.

Registered office: Plot No. 11/4, I.T. Park, Gayatri Nagar Parsodi, Nagpur, Maharashtra, India - 440022.

Phone: +91 - 9909647348

E-mail: cs@softtrust.com

IPO Financials

Particulars	Year Ending on March 31, 2023	Year Ending on March 31, 2022	Year Ending on March 31, 2021
Total Revenue (in ₹ lakh)	2,270.19	1,800.00	2,417.94
Net Profit (in ₹ lakh)	402.21	133.66	219.66
ROCE	20.07%	11.03%	22.26%
ROE	18.99%	9.22%	17.26%

Know before investing

Strengths

Significant disruptions in information technology systems or breaches of data security could affect their business and reputation. They may also face cyber threats on a regular basis.
Their top 10 clients contributed approximately 82.10%, 78.78% and 86.87% of their revenue from operations based on restated financial statements for the fiscal 2023, 2022 and 2021, respectively.

Risks

They are a one stop shop solution provider in secure Core Banking Solutions, ERP Implementation and Customised Software Solutions Development. It helps them build a stronger relationship with their clients.
The company holds significant empanelments with the Government on India. These prestigious empanelments not only validate their standing as a trusted vendor but also position them favourably for upcoming opportunities or to participate in upcoming projects in diverse sectors.