The Trust Fintech IPO date has been confirmed from March 26, 2024, and closes on March 28, 2024. Read the post to learn about Trust Fintech IPO GMP.
In contemplating the Trust Fintech Developers IPO, one must recognize its fixed price issue of Rs 63.45 crores, presenting a notable opportunity within a price band of ₹95 to ₹101 per share. Trust Fintech IPO GMP Today is ₹40. For prospective investors, the minimum lot size stands at 1200 shares, necessitating an entry investment of ₹121,200 for retail investors and ₹242,400 for High Net Worth Individuals (HNIs).
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Bidding Dates
March 26-28
Price Range
₹95 to ₹101 per share
Face Value
₹10 per share
GMP
₹49
Trust Fintech IPO GMP
The Trust Fintech IPO GMP Today is ₹49.
IPO Overview
This offering, valued at Rs 63.45 crores, unveils a new 62.82 lakh share issuance. The subscription window commences on March 26, 2024, concluding by March 28, 2024, with allotment anticipated by April 1, 2024. As projected, the proposed listing date on NSE SME is April 3, 2024.
Trust Fintech IPO Details
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | [.] |
| 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 |
Trust Fintech Limited Financial Information
| 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 | ||||
Trust Fintech IPO Timeline
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Monday, April 1, 2024 |
| Initiation of Refunds | Tuesday, April 2, 2024 |
| Credit of Shares to Demat | Tuesday, April 2, 2024 |
| Listing Date | Wednesday, April 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
Company Profile
Turning to the operational facets of Trust Fintech Limited, established in 1998, the firm exhibits proficiency in delivering Core Banking Software, Offshore IT services, ERP Implementation, Customised Software Solutions Development, and SAP B1, catering specifically to the BFSI sector. With a diverse product suite encompassing over ten banking solutions, including agency banking, mobile banking, and Core Banking, Trust Fintech serves an expansive clientele comprising commercial, cooperative, and financial institutions across various nations.
Noteworthy is Trust Fintech’s adherence to quality standards, evidenced by its ISO 9001:2015 and ISO 27001:2013 certifications. The company, boasting a workforce of over 250 individuals, operates from strategically located offices in Nagpur, Pune, and Mumbai. At the core of its offerings lies TrustBankCBS, a flagship product characterized by its web-based architecture and dual deployment options: on-premises with customized infrastructure or Software as a Service (SaaS). Such diversification of offerings underscores Trust Fintech’s commitment to innovation and client-centric solutions, positioning it favorably amidst the evolving landscape of financial technology.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | ipo.bigshareonline.com |
Contact Details
| Name | Trust Fintech Limited |
| Phone number | +91 – 9909647348 |
| Email ID | cs@softtrust.com |
| Website | softtrust.com |
IPO Strengths
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
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