The allotment for the SME IPO of Trust Fintech will be finalised on Monday. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made. Investors can check the status of Trust Fintech IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case.
Follow the step-by-step process mentioned below to check the status of the allotment.
Step 1: Visit the IPO Allotment Status page on the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html)
Step 2: Select IPO from the dropdown
Step 3: Enter PAN number and ‘Submit’.
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Trust Fintech GMP
In the unlisted market, the company’s shares have a GMP of Rs 45. The company had priced the offer at Rs 101 and the tentative listing date is set as April 4.
The IPO, which was completely a fresh equity issue of 62.82 lakh shares, received an overwhelming response from investors with a subscription of 100 times at close.
The net proceeds from the public offer will be used for setting up additional development facilities, investment in procuring hardware, expenditure related to enhancement, and upgrading existing products, and meeting global and domestic business development, sales, and marketing expenses. Part of the proceeds will also be used for general corporate purposes.
Trust Fintech is a Nagpur-based SaaS Product focused company that has carved a niche in providing Core Banking Software, IT solutions, ERP Implementation and customised software solutions development, SAP B1, and offshore IT services for the BFSI sector.
For the period ended September 2023, the company clocked revenues of Rs 19 crore and net profit of Rs 7 crore.
Corporate Capital Ventures is acting as the lead manager to the issue and Bigshare Services is the registrar.
