Mar 25, 2024 01:14 PM IST
Trust Fintech IPO will close on March 28 and the price band has been set in the range of ₹95 to ₹101 per equity share of face value of ₹10 each.
Trust Fintech IPO: The initial public offering for Trust Fintech is set to open for subscription on March 26. The issue will close on March 28 and the price band of the IPO has been set in the range of ₹95 to ₹101 per equity share of face value of ₹10 each. The lot size of the IPO consists of 1,200 shares and bids can be placed for 1,200 equity shares as a minimum and in multiples of 1,200 equity shares. In the IPO, a total of 20.88 lakh equity shares are reserved in the retail (RII) portion, 3.18 lakh equity shares set aside for market makers, 8.95 lakh equity shares for HNIs and 11.92 lakh equity shares are kept for QIBs.
Trust Fintech company details: The company offers offshore IT services, ERP implementation, SAP B1 development and customised software solutions development as it caters to the banking, financial services, and insurance (BFSI) sector. In the first half of the current fiscal year, the company posted revenue of ₹18.82 crore and profit (PAT) of ₹7.27 crore.
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Trust Fintech IPO details: The company’s issue consists of a fresh issue of 62,82,000 equity shares having a face value of ₹10 as it aims to raise ₹63.45 crore from the offering.
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Trust Fintech IPO objectives: The net proceeds from the IPO will be used by the company to finance its global and domestic business development, sales and marketing costs and general corporate expenses, it said.
Trust Fintech IPO registrar: Bigshare Services Private Limited is the registrar of the issue. Corporate Capital Ventures is the book running lead manager of the IPO.
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Trust Fintech IPO allotment date: The basis of allotment of shares will likely be finalised on April 1. The company will initiate refunds on April 2 and the shares will be credited to the demat account of allottees on the same day as well.
Trust Fintech IPO listing: Trust Fintech shares are likely to be listed on NSE SME on April 3.
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