Trust Fintech IPO will open for subscription from 26 March 2024. The company aims for an issue size of ₹63.45 Cr through this IPO.
Company Overview
| Full name | Trust Fintech Limited |
| Sector | Information Technology |
| Industry | Fintech |
| Company Website | https://www.softtrust.com/ |
About Company
Trust Fintech, headquartered in Nagpur, specializes in SaaS products, with a focus on providing core banking software, IT solutions, ERP implementation, customized software solutions development, SAP B1, and offshore IT services for the BFSI sector. The company has invested in developing over 10 banking-related products for commercial and cooperative banks and financial institutions. These products include core banking software, loan origination software, GST compliance software, financial accounting and billing software, GST Suvidha provider services, SAP B1 services, various add-on modules for statutory report generation, ATM reconciliation, anti-money laundering, agency banking, and mobile banking.
It has a global presence in over 25 countries and serves a global customer base of over 200 BFSI institutions with core banking solutions. Trust Fintech has provided services in India, Sri Lanka, Nepal, California, Gambia, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe, and several other countries. The company’s flagship product, TrustBankCBS, is a web-based software. It is available in an ‘on-premises with infrastructure’ model, offering customers the flexibility to deploy TrustBankCBS on their premises with customized infrastructure. As of January 2024, the company has a total of 228 employees on a payroll basis and 35 employees on a contract basis at its Nagpur office.
The Objectives of the Issue
- To set up additional Development facilities, installment 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 the Global & Domestic Business Development, Sales, and Marketing expenses for the company; and
- General Corporate Expenses
Trust Fintech IPO Timetable
| IPO Opening date | 26 March 2024 |
| IPO Closing | 28 March 2024 |
| Basis of Allotment | 02 April 2024 |
| Initiation Refund | 03 April 2024 |
| Credit to Demat Account | 03 April 2024 |
| Listing Date | 04 April 2024 |
Trust Fintech IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹63.45 Cr – 6,282,000 shares |
| Fresh Issue | ₹63.45 Cr – 6,282,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹95 to ₹101 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 318,000 shares |
| Shareholding pre-issue | 17,543,200 |
| Shareholding post-issue | 23,825,200 |
| Listing Exchange | NSE SME |
Trust Fintech IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹121,200 |
| Retail (Max) | 1 | 1200 | ₹121,200 |
| HNI (Min) | 2 | 2,400 | ₹242,400 |
Trust Fintech IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Trust Fintech Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 23.95 | 17.63 | 22.54 | 18.82 |
| Expenses | 21.24 | 16.21 | 17.29 | 9.10 |
| Net income | 2.20 | 1.34 | 4.02 | 7.28 |
Trust Fintech Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 4.21 | 2.58 | 7.76 |
| PE ratio | – | – | – |
| RONW (%) | 15.89 | 8.81 | 20.96 |
| NAV | 26.66 | 29.24 | 37.00 |
| ROCE (%) | 6.00 | 4.40 | 11.50 |
| EBITDA (%) | 13.00 | 12.89 | 26.36 |
| Debt/Equity | 0.40 | 0.85 | 0.77 |
Company Promoters
- Mr. Hemant Padmanabh Chafale
- Mr. Sanjay Padmanabh Chafale
- Mr. Heramb Ramkrishna Damle
- Mr. Anand Shankar Kane
- Mr. Mandar Kishor Deo.
Promoter Holding
| Pre Issue Share Holding | 93.51% |
| Post Issue Share Holding | 68.85% |
Trust Fintech IPO Lead Manager(s)
CORPORATE CAPITALVENTURES PRIVATE LIMITED
B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 – 41824066
Email: smeipo@ccvindia.com
Website: www.ccvindia.com
Trust Fintech Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Trust Fintech Contact Details
TRUST FINTECH LIMITED
Plot No. 11/4, I.T. Park, Gayatri Nagar Parsodi,
Nagpur, Maharashtra, India, 440022
Phone: +91 – 9909647348
E-mail: cs@softtrust.com
Website: www.softtrust.com
Trust Fintech IPO Allotment Status
Trust Fintech IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Trust Fintech IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
