Trust Fintech Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | March 26, 2024 to March 28, 2024 |
| Listing Date | April 4, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 95 to ₹ 101 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 62,82,000 shares (aggregating up to ₹ 63.45 Cr) |
| Fresh Issue | 62,82,000 shares (aggregating up to ₹ 63.45 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,75,43,200 |
| Share holding post issue | 2,38,25,200 |
| Market Maker portion | 3,18,000 shares Ss Corporate Securities |
About Trust Fintech Limited IPO
Trust Fintech Ltd. (TFL) 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. The company has evolved in the last 25 years and adapted to the technological and market shifts to reach the current business model and product version. Trust Fintech is consistently expanding its business footprints in India and Globally by adapting to ever-changing regulatory compliances for the global BFSI sector.
Trust Fintech IPO is a book built issue of Rs 63.45 crores. The issue is entirely a fresh issue of 62.82 lakh shares.Trust Fintech IPO price band is set at ₹95 to ₹101 per share. The minimum lot size for an application is 1200 Shares. Corporate Capital Ventures Pvt Ltd is the book running lead manager of the Trust Fintech IPO, while Bigshare Services Pvt. Ltd. is the registrar for the issue. The market maker for the Trust Fintech IPO is Ss Corporate Securities.
Objectives of Trust Fintech Limited IPO
The company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- 1. To Set Up additional Development facility, installment of fit outs and interior design works in Nagpur, Maharashtra.
- 2. Investment in procuring hardware and upgrading IT infra.
- 3. Funding of expenditure related to enhancement, maintenance and upgrading existing Product.
- 4. To meet the Global & Domestic Business Development, Sales and Marketing expenses for the company.
- 5. General Corporate Expenses.
Trust Fintech Limited IPO review
The company enjoys a niche place in the BFSI segment with its timely and tested solutions/products. It posted inconsistency in its top and bottom lines from FY21-FY23. The BFSI solutions segment has turned highly competitive with many players around. Based on FY24 annualized super earnings, the issue appears reasonably priced, while on FY23 earnings basis, it is overpriced. The sustainability of margins posted for H1-FY24 raise concern over its sustainability. However, investors may park funds for the medium to long term rewards.
Trust Fintech Limited IPO Financial Information
Latest Revenue
1,883.13
₹ Crore
Profit After Tax
727.95
₹ Crore
Net Worth
3,446.55
₹ Crore
Total Borrowing
-34.32
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 3,989.43 | 1,883.13 | 727.95 | 3,446.55 | -34.32 | ||||
| 31 Mar 2023 | 3,118.89 | 2,270.19 | 402.21 | 2,718.60 | -3.80 | ||||
| 31 Mar 2022 | 1,958.72 | 1,800.00 | 133.66 | 1,516.39 | 118.69 | ||||
| 31 Mar 2021 | 1,590.01 | 2,417.94 | 219.66 | 1,382.73 | -44.34 | ||||
| Amount in ₹ Crore | |||||||||
Trust Fintech Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.61% |
| ROCE | 28.54% |
| P/BV | 1.98 |
| PAT Margin (%) | 38.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.29 | 6.11 |
| P/E (x) | 44.05 | 16.53 |
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Competitive Strengths
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Trust Fintech Limited IPO Timeline
| IPO Open Date | Tuesday, March 26, 2024 |
| IPO Close Date | Thursday, March 28, 2024 |
| Basis of Allotment | Tuesday, April 2, 2024 |
| Initiation of Refunds | Wednesday, April 3, 2024 |
| Credit of Shares to Demat | Wednesday, April 3, 2024 |
| Listing Date | Thursday, April 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 28, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹121,200 |
| Retail (Max) | 1 | 1200 | ₹121,200 |
| HNI (Min) | 2 | 2,400 | ₹242,400 |