Trust Fintech was incorporated on December 15, 1998. It is a Nagpur-based SaaS product-focused company that specializes in providing core banking software, IT solutions, ERP implementation, customized software solutions development, SAP B1, and offshore IT services for the BFSI sector.
| Bidding Dates |
|---|
| 26 Mar 2024 - 28 Mar 2024 |
| Subscription |
|---|
| 101.01x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,14,000 | 1 | 1 | 1200 | 6.3 M | ₹95 - ₹101 | 68.85 % | ₹596.8 M - ₹634.5 M | RHP DOC |
Trust Fintech IPO SUBSCRIPTION STATUS
28 Mar '24Trust Fintech IPO overall subscription rate was 101.01 times the total available shares
Trust Fintech IPO retail subscription rate was 99.69 times in the retail segment
Trust Fintech IPO non-institutional investor subscription rate was 325.14 times in the non-institutional investor category
Trust Fintech IPO Qualified Institutional Bidder subscription rate was 34.7 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
28 Mar 2024 (Day 3) | 99.69x | 325.14x | 34.7x |
27 Mar 2024 (Day 2) | 24.13x | 19.31x | 0.17x |
26 Mar 2024 (Day 1) | 7.08x | 3.62x | 0x |
Trust Fintech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY24 | 72.8 | 188.2 | 6.6 | -0.3 | 52.9% |
| FY23 | 40.2 | 225.4 | 7.7 | -0.9 | 26.4% |
| FY22 | 13.4 | 176.3 | 1.6 | -6.1 | 12.9% |
| FY21 | 22.0 | 239.5 | 48.4 | 44.1 | 13.0% |
Trust Fintech IPO SUBSCRIPTION STATUS DETAILS
Trust Fintech had 6.3 M shares on offer
Trust Fintech IPO offer price was in the range ₹95 - ₹101
Trust Fintech IPO minimum Investment was ₹114000
Trust Fintech IPO issue size was ₹ 596.8 M - ₹ 634.5 M
Trust Fintech had a minimum lot size of 1200 Shares per application
Trust Fintech NUMBER OF SHARES ON OFFER
Trust Fintech IPO IMPORTANT DATES
| Issue Open Date | 26 Mar 2024 |
| Issue close Date | 28 Mar 2024 |
| Allotment Date | 02 Apr 2024 |
| Refund Date | 03 Apr 2024 |
| Demat Account Credit Date | 03 Apr 2024 |
| Listing Date | 04 Apr 2024 |
| Listing on Exchange(s) | NSE |
| Trust Fintech Allotment Status | Exchange |
Trust Fintech IPO subscription opened on 26 Mar 2024, and closed on 28 Mar 2024
IPO allotment for Trust Fintech was finalized on Tuesday, 02 Apr 2024
IPO listing for Trust Fintech was on NSE on Thursday, 04 Apr 2024
Trust Fintech IPO LISTING GAINS
| Issue Price (adjusted) | 101.0 |
| Listing Open Price | 143.3 |
| Listing Close Price | 150.4 |
| Listing Gain% | 41.8% |
| Current Gain% | -71.9% |
Trust Fintech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trust Fintech Ltd. | 28.4 | 67.7 | 7.6 | 0.7 | 1.4 | 7.6 | 6.8 | 47.5 | 33.2 | 8.9 | 10.8 | 3.7 | 10.8 |
| Tata Consultancy Services Ltd. | 2452.7 | 887408.3 | 17.8 | 16.7 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1175.1 | 476862.2 | 15.7 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1356.6 | 368135.8 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 187.5 | 185737.1 | 14.1 | -7.8 | 2 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1635 | 160243.9 | 31.2 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Trust Fintech INFORMATION ON IPO ISSUE
About Trust Fintech
Trust Fintech was incorporated on December 15, 1998. It is a Nagpur-based SaaS product-focused company that specializes in providing core banking software, IT solutions, ERP implementation, customized software solutions development, SAP B1, and offshore IT services for the BFSI sector.
Object of the Issue
- Setting up an additional development facility and interior design works in Nagpur, Maharashtra.
- Investment in procuring hardware and upgrading IT infrastructure.
- Funding expenditure related to enhancing, maintaining, and upgrading existing products.
- Meeting global and domestic business development, sales, and marketing expenses.
- Allocation for general corporate expenses.
Trust Fintech - PROMOTERS
| Name |
|---|
| Hemant Padmanabh Chafale |
| Sanjay Padmanabh Chafale |
| Heramb Ramkrishna Damle |
| Anand Shankar Kane |
| Mandar Kishor Deo |
Trust Fintech Lead Manager to the Issue
Corporate Capital Ventures Private Limited
smeipo@ccvindia.com
Trust Fintech Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Trust Fintech Strengths
One-stop solution
The company serves as a one-stop solution provider for secure core banking solutions, ERP implementation, and customized software solutions development
Customer relationships
The company benefits from its existing client relationships, which result in repeat business. With a history of high customer retention, it derives a significant proportion of its revenue from repeat business
Quality assurance
The company's commitment to quality control and assurance has led to several certifications, including the ISO 27001:2013 certificate for information security management, ISO 9001:2015 certificate for the design, development, and implementation of comprehensive IT solutions, and CMMI Level 5 certification, among others
Trust Fintech Risks
Dependent on one business
A substantial portion of the company's revenues is dependent on its core banking software, TrustBankCBS. The loss of any one or more major clients would significantly impact business operations and profitability
Certain legal proceedings
The company and its promoters are involved in certain legal proceedings and potential litigations. Any adverse decision in such proceedings may render them liable for liabilities and penalties
Contingent liabilities
The company has certain contingent liabilities, and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize
IPO FAQs
The promoters of the company are Hemant Padmanabh Chafale, Sanjay Padmanabh Chafale, Heramb Ramkrishna Damle, Anand Shankar Kane and Mandar Kishor Deo.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 95.0 - 101.0.
The IPO application opens on Mar 26, 2024 and closes on Mar 28, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 114,000.0, the maximum value for this IPO is Rs 121,200.0.
This IPO will be allotted on Apr 02, 2024.
The refund will be credited to your account on Apr 03, 2024.
The allotted shares will be credited to your demat on Apr 03, 2024.
Trust Fintech Ltd.’s shares listed on the stock exchanges on Apr 04, 2024.