Trust Fintech has announced its initial public offerings, giving an exciting opportunity to investors. Investors looking to invest in this software development company can read the article below to learn everything about the Trust Fintech IPO.
Trust Fintech IPO Date
Trust Fintech Limited is debuting on Dalal Street with its IPO on 26 March 2024. The IPO will close on 28 March 2024, and the allotment of the Trust Fintech IPO will happen on 2 April 2024.
The initiation of refunds for those who have subscribed for the shares but did not get allotted shares would commence on 3 April 2024. The investors can expect the credits of allotted shares in their Demat account on the same date.
The company plans to list the shares on the National Stock Exchange after the IPO on 4 April 2024.
| Date | Trust Fintech Limited IPO Events |
| 26 March 2024 | IPO Opening Date |
| 28 March 2024 | IPO Closing date |
| 2 April 2024 | Allotment of IPO |
| 3 April 2024 | Refund Initiation |
| 4 April 2024 | Listing Date |
| 28 March 2024 till 5 PM | UPI mandates confirmation cut-off time. |
Trust Fintech IPO Details
Trust Fintech Limited has announced its first public issue of equity shares. The aim of the company with this first public issue is:
- Utilize the funds in procuring hardware and updating IT infrastructure with new technologies.
- Utilize the funds in setting up additional development facilities.
- Utilize the funds for the interior design enhancement in Nagpur, Maharashtra.
- Utilize the funds to fund the expenditure to maintain, upgrade, and enhance the existing product of Trust Fintech Limited.
- Utilize the funds to meet the needs of sales & marketing expenses, requirements of the company’s Global & Domestic Business development, and other corporate purposes.
The fresh issue of the Trust Fintech IPO contains 62,82,000 equity shares with a face value of ₹10 per equity share. The company plans to raise ₹63.45 crore from the first book-built issue.
The price band of the Trust Fintech IPO is fixed at ₹95 to ₹101 per equity share. The minimum lot share size for a subscription is 1200 shares.
The registrar of the Trust Fintech IPO decided after the IPO pitch is Bigshare Services Private Limited and the book-running leading manager of the IPO is Corporate Capitalventures Private Limited.
The market maker, Ss Corporate Securities of Trust Fintech holds 318,000 shares (5%). The promoters of Trust Fintech Limited hold 93.51% share pre-issue and would dilute to 68.85% after the issue.
| Company Name | Trust Fintech IPO |
| IPO Total Size | 62.82 lakh shares match up to ₹63.45 cr |
| Issue type | Book Built Issue |
| Lot Size | 1200 shares |
| Price band | ₹95 to ₹101 per equity share |
| Face Value | ₹10 per equity share |
| Fresh issue | 62.82 lakh shares match up to ₹63.45 cr |
| OFS size | NIL |
| Listing at | NSE SME |
| Market Maker | 318,000 shares |
Trust Fintech IPO Lot Size and Reservation
The company offered the following shares in the IPO issue to the investor category, Qualified Institutional Buyers (QIB), retail, and Non-Institutional Investors (NII):
| Investors Category | Shares offered |
| OIB | Not exceeding 50% of the net shares |
| Retail | Not less than 35% of the net shares |
| NII (HNI) | Not less than 15% of the net shares |
The minimum lot market size of the Trust Fintech IPO is 1200 shares with the minimum investment a retail investor requires is ₹121,200. Following is the distribution of lot size of Trust Fintech IPO and the amount for investor categories:
| Investor Category | Lots | Shares | Amount |
| Retail (min.) | 1 | 1200 | ₹121,200 |
| Retail (max.) | 1 | 1200 | ₹121,200 |
| HNI (min.) | 2 | 2400 | ₹242,400 |
Trust Fintech IPO GMP
The updated trading price in grey market premium (GMP) of the Trust Fintech IPO is ₹40 from the last three sessions. The price band of the Trust Fintech IPO in the grey market is ₹101 and the estimated listing price is trending at ₹141 with a 39.60% expected loss/gain percentage per share.
The GMP prices and trends are associated with the trading price in grey market premium, so always make your investment decision considering other factors as well.
| Date | IPO Price | GMP | Subject to Suada Rate | Estimated Listing Price |
| 22 March 2024 | 101 | ₹40 | 36500 | ₹141 |
| 21 March 2024 | 101 | ₹40 | 36500 | ₹141 |
| 20 March 2024 | 101 | ₹42 | 38300 | ₹143 |
Trust Fintech IPO has raised ₹18.06 crore from anchor investors dated 22 March 2024. Its market capitalization of the upcoming IPO is around ₹ 240.63 crore. Investors looking to invest in the IT sector through Trust Fintech Limited can subscribe for the IPO on 26 March 2024.
Go to Bscnursing Homepage To Get the Latest Information.
