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Trust Fintech IPO

  • Status: Closed
  • RHP:
  • ₹ 114,000 / 1200 shares

    Minimum Investment

IPO Details

  • Open Date

    26 Mar 2024

  • Close Date

    28 Mar 2024

  • IPO Price Range

    ₹ 95 to ₹ 101

  • IPO Size

    ₹ 63.45 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    04 Apr 2024

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IPO Timeline

Trust Fintech IPO Subscription Status

Last Updated: 05 April 2024 10:55 AM by 5Paisa

Trust Fintech Limited IPO is all set to open from 26th March to 28th March 2024. The company makes SaaS Products. The IPO includes a fresh issue of 6,282,000 shares worth ₹63.45 cr. The share allotment date is 2nd April 2024, and the IPO will be listed on 4th April 2024 on the stock exchanges. The price band is ₹95 to ₹101 and the lot size is 1200 shares.        

Corporate Capital Ventures Private Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar. 

Objectives of Trust Fintech IPO:

Trust Fintech Limited plans to utilize the raised capital from the IPO to:

●    To fund the setup of a new development facility, installation of fits and interior design work.
●    To invest in hardware procurement and IT infra upgradation 
●    To fund expenses related to enhancement, maintenance and upgrading existing Products
●    To fund the expenses related to Global & Domestic Business Development and Sales and Marketing 
●    General Corporate Expenses
 

Established in 1998 and based in Nagpur, Trust Fintech Limited makes SaaS Products. The company has expertise in niches including core Banking Software, IT Solutions, ERP Implementation and Customized Software Solutions Development, SAP B1 and Offshore IT services for the BFSI sector.

The company offers end-to-end business solutions and has created more than 10 banking-based products for Financial Institutions and Commercial and Cooperative Banks. This list includes Core Banking Software, Loan Origination software, GST compliance software, Financial Accounting & Billing Software, GST Suvidha provider, SAP B1 Services (for Implementation, Support and Add-on Development), Various add-on modules for Statutory Report Generation, ATM Reconciliation, Anti-Money Laundering, Agency Banking, Mobile Banking leveraging, etc.

Apart from India, Trust Fintech also delivers its SaaS products to other countries like Shrilanka, Nepal, California, Gambia, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe, etc. TrustBankCBS is one of the most popular products of the company, which is a core banking solution.

Peer Comparison

●    Network People Services Technologies Limited
●    Veefin Solutions Limited

For More Information:
Webstory on Trust Fintech IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 22.54 17.63 23.94
EBITDA 5.94 2.27 3.11
PAT 4.02 1.33 2.19
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 31.18 19.58 15.90
Share Capital 5.18 5.18 5.18
Total Borrowings 4.00 4.42 2.07
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 0.77 0.16 4.83
Net cash from / (used in) investing activities 0.62 -3.10 -3.73
Net cash flow from / (used in) financing activities -1.26 1.58 0.55
Net increase (decrease) in cash and cash equivalents 0.12 -1.36 1.65

Strengths

1.    The company is a one-stop-shop solution provider in secure Core Banking Solutions, ERP Implementation and Customized Software Solutions Development.
2.    It has strong and long-standing customer relationships. 
3.    The company holds significant Government Empanelments.
4.    It has received many certifications for high quality. 
5.    It focuses on growing businesses through intellectual property capabilities.
6.    It has Marque Clientele and transparent and competitive pricing. 
7.    Qualified and experienced management team.
 

Risks

1.    The company revenues are dependent on majorly two states. 
2.    A major portion of revenue is dependent on its Core Banking software i.e. TrustBankCBS. 
3.    It is subject to legal and regulatory requirements.
4.    Software Product development is a long, expensive and uncertain process.
5.    The company faces high competition.
6.    High working capital requirements.
7.    It has reported negative cash flows in the past. 
 

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FAQs

Trust Fintech IPO opens from 26th March to 28th March 2024.
 

The size of Trust Fintech IPO is ₹63.45 cr. 
 

To apply for Trust Fintech IPO, follow the steps given below
●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Trust Fintech IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.
 

The price band of Trust Fintech IPO is fixed at ₹95 to ₹101 per share. 
 

The minimum lot size of Trust Fintech IPO is 1200 shares and the investment required is ₹1,14,000.
 

The share allotment date of Trust Fintech IPO is 2nd April 2024.
 

The Trust Fintech IPO will be listed on 4th April 2024.
 

Corporate Capital Ventures Private Limited is the book-running lead manager for Trust Fintech IPO.
 

Trust Fintech plans to utilize the raised capital from the IPO to:

1.    To fund the setup of a new development facility, installation of fits and interior design work.
2.    To invest in hardware procurement and IT infra upgradation 
3.    To fund expenses related to enhancement, maintenance and upgrading existing Products