TLDR:
- Trust Fintech has set the IPO price band at Rs 95-101 per share.
- The issue is set to open on March 26 and conclude on March 28.
In a recent announcement, Trust Fintech Ltd, a provider of SaaS product-focused fintech software solutions, has fixed the price band for its initial public offering at Rs 95-101 per share. The IPO is scheduled to open on March 26 and close on March 28, with the anchor portion set to open on Friday. The company plans to issue 62.82 lakh equity shares through the book-building route, with a face value of Rs 10 each. At the upper end of the price band, Trust Fintech aims to raise up to Rs 63.45 crore.
The company intends to utilize the proceeds from the IPO for various purposes including establishing a new development facility, procuring hardware and upgrading IT infrastructure, enhancing existing products, and funding global and domestic business development. Trust Fintech offers core banking SaaS products, fintech software solutions, ERP implementation, and offshore IT services for the BFSI sector. In the first half of the current fiscal year, the company reported a revenue of Rs 18.82 crore and a profit of Rs 7.27 crore. Corporate Capital Ventures is the sole book-running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar.
Overall, Trust Fintech’s IPO is expected to bring a new player in the fintech market, offering innovative solutions and strong growth potential in the coming years.
