The SME IPO of Trust Fintech will open for subscription on Tuesday and will close on March 28. The company aims to raise about Rs 63 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.

1) About Trust Fintech

Trust Fintech is a Nagpur based SaaS Product focused company which 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.

2) Industry overview

The global core banking software market size was valued at $12.51 billion in 2022. The market is projected to grow from $14.54 billion in 2023 to USD 47.37 billion by 2030, exhibiting a CAGR of 18.4% during the forecast period.

3) Trust Fintech IPO size

The IPO is entirely a fresh equity issue of 62.8 lakh shares and through the issue, the company aims to raise Rs 63 crore.

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4) Trust Fintech IPO price band

The company is offering its shares at Rs 95-101 apiece, and investors can bid for 1,200 shares in 1 lot.

5) Trust Fintech IPO financial performance

For the period ended September 2023, the company clocked revenues of Rs 18.83 crore and net profit of Rs 7.27 crore.

6) Objects of the offer

The net proceeds from the public offer will be used for setting up additional development facility, investment in procuring hardware, expenditure related to enhancement and upgrading existing products, meeting global and domestic business developemnt, sales and marketing expenses. Part of the proceeds will also be used for general corporate purposes.

7) Lead managers and Registrar

Corporate Capital Ventures is acting as the lead manager to the issue and Bigshare Services is the registrar.

8) Issue structure

About 50% of the offer is reserved for QIB investors, 35% for retail investors and the rest 15% for other investors.

9) Important dates

The IPO opens on March 26 and will close on March 28. The final allotment will likely be made on April 2. The company’s shares will likely get listed on April 3.

10) Trust Fintech GMP

The company’s shares have a GMP of Rs 40 in the unlisted market.

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