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16 Nov 2024
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.
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 | 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 Ss Corporate Securities |
Trust Fintech Limited IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 |
Trust Fintech Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,788,000 (28.46%) |
| Market Maker Shares Offered | 318,000 (5.06%) |
| QIB Shares Offered | 1,192,800 (18.99%) |
| NII (HNI) Shares Offered | 895,200 (14.25%) |
| Retail Shares Offered | 2,088,000 (33.24%) |
| Total Shares Offered | 6,282,000 (100%) |
Trust Fintech Limited 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 Limited IPO Promoter Holding
| Shareholding Pre Issue | 93.51% |
| Shareholding Post Issue | 68.85% |
Trust Fintech Limited IPO Investors Details
| Bid Date | March 22, 2024 |
| Shares Offered | 1,788,000 |
| Anchor Portion Size (In Cr.) | 18.06 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 2, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 1, 2024 |
Company & Financials
Trust Fintech Limited (TFL) was established in 1998. TFL has been involved in providing Software Solutions and Services in the field of Banking, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services. The company offers 10+ banking products for commercial, cooperative banks, and financial institutions. These include Core Banking, Loan Origination, GST Compliance, Financial Accounting, Billing, SAP B1 services, add-on modules for statutory report generation, ATM reconciliation, anti-money laundering, agency banking, and mobile banking. Currently, TFL serves customers in more than 15 States of India and in more than 10 countries.
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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.61% |
| ROCE | 28.54% |
| RoNW | 27.51% |
| 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 |
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.
FAQs for Trust Fintech Limited IPO
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Why Trust Fintech IPO?
The initial public offer (IPO) of Trust Fintech Limited offers an early investment opportunity in Trust Fintech Limited. A stock market investor can buy Trust Fintech IPO shares by applying in the IPO before Trust Fintech Limited shares get listed at the stock exchanges. An investor could invest in Trust Fintech IPO for short term listing gain or a long term.
-
Trust Fintech IPO what should investors do?
Trust Fintech IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges.
-
Is Trust Fintech IPO good?
Our recommendation for Trust Fintech IPO is to subscribe.
-
When will Trust Fintech IPO allotment status?
The Trust Fintech IPO allotment status will be available on or around April 2, 2024. The allotted shares will be credited in demat account by April 3, 2024.
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When will the Trust Fintech IPO list?
The Trust Fintech IPO will be listed on Thursday, April 4, 2024, at NSE SME.
RHP:
RHP of Trust Fintech Limited IPO
DRHP:
DRHP of Trust Fintech Limited IPO
Anchor Investor Link:
Anchor Investor Link of Trust Fintech Limited IPO
-
Why Trust Fintech IPO?
The initial public offer (IPO) of Trust Fintech Limited offers an early investment opportunity in Trust Fintech Limited. A stock market investor can buy Trust Fintech IPO shares by applying in the IPO before Trust Fintech Limited shares get listed at the stock exchanges. An investor could invest in Trust Fintech IPO for short term listing gain or a long term.
-
Trust Fintech IPO what should investors do?
Trust Fintech IPO offers an opportunity to buy IPO shares before they get listed at the stock exchanges.
-
Is Trust Fintech IPO good?
Our recommendation for Trust Fintech IPO is to subscribe.
-
When will Trust Fintech IPO allotment status?
The Trust Fintech IPO allotment status will be available on or around April 2, 2024. The allotted shares will be credited in demat account by April 3, 2024.
-
When will the Trust Fintech IPO list?
The Trust Fintech IPO will be listed on Thursday, April 4, 2024, at NSE SME.
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