Fintech firm Trust Fintech sets IPO price band at Rs 95-101

Trust Fintech Ltd, a prominent player in the fintech software solutions sector, has announced the price band for its upcoming initial public offering (IPO) at Rs 95-101 per share.

The offering, which is set to open on March 26 and close on March 28, marks a significant step for the company as it seeks to expand its operations and enhance its product offerings. The IPO comprises a fresh issue of 62.82 lakh equity shares, each with a face value of Rs 10, aiming to raise up to Rs 63.45 crore at the upper end of the price band.

Investor participation and allocation

Investors will be able to bid for a minimum of 1,200 equity shares, with subsequent bids in multiples of 1,200. 

The IPO allocation includes 20.88 lakh shares for retail investors, 3.18 lakh shares for market makers, 8.95 lakh shares for high-net-worth individuals (HNIs), and 11.92 lakh shares for qualified institutional buyers (QIBs).

Establishing a new development facility

With the raised capital, Trust Fintech plans to establish a new development facility at Mihan SEZ in Nagpur, procure hardware, and upgrade its IT infrastructure. Additionally, the proceeds will be used to enhance, maintain, and upgrade existing products, as well as to fund global and domestic business development, sales, marketing, and general corporate expenses.

How well is it performing financially? 

Trust Fintech has demonstrated solid financial performance, with revenue of Rs 18.82 crore and a profit of Rs 7.27 crore in the first half of the current fiscal year. The company's offerings in core banking SaaS products, ERP implementation, and customized software solutions have positioned it strongly in the BFSI sector. 

Key dates and listing details

The IPO's anchor portion will open on March 26, with the final allotment of shares scheduled for April 1. Refunds will be initiated on April 2, and shares are expected to be credited to allottees' demat accounts on the same day.

Trust Fintech's shares are set to be listed on the NSE's SME platform Emerge on April 3, offering investors a new opportunity to participate in the fintech sector's growth. Corporate Capital Ventures serves as the sole book-running lead manager, with Bigshare Services Pvt Ltd as the registrar for the IPO.