How To Check Trust Fintech IPO Allotment Status

The Trust Fintech IPO opened for bidding on March 26, 2024, and concluded on March 28, 2024. The Trust Fintech IPO allotment status is set to be finalised today, April 1.

If you applied for the SME IPO, here is how you check the Trust Fintech IPO allotment status.

Checking IPO Allotment Status on Registrar's Website:

Follow these steps to check the Trust Fintech IPO allotment status

  1. Visit the registrar's website.
  2. Click on "Company Selection" and choose " Trust Fintech" from the dropdown menu.
  3. Then you can enter your PAN, application number, or Demat.
  4. Enter the captcha and click Submit to retrieve the Trust IPO allotment status

If all the details are entered correctly and the allotment has been finalised, the Trust Fintech IPO allotment status will be visible.

Trust Fintech IPO Subscription Status

The Trust Fintech IPO subscription data reflects an overwhelming level of investor interest, with subscription levels reaching 108.63 times the total shares offered. Retail investors demonstrated strong interest by subscribing 75.09 times. Qualified Institutions have subscribed 65.38 times and the Non-Institutional Buyers (NII) category witnessed exceptional demand, with a subscription rate of 244.48 times.

Allocation details include 3.18 lakh equity shares for Market Maker, 8.95 lakh for High Net Worth Individuals (HNIs), 11.92 lakh for Qualified Institutional Buyers (QIBs), and 20.88 lakh for Retail Investors (RIIs). The lot size for the IPO is 1,200 shares.

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Trust Fintech IPO GMP

The Trust Fintech IPO GMP is reported at ₹60. It is a jump from the ₹45 reported on the first day of bidding. The IPO GMP, combined with the upper price band of ₹101 indicates a listing price of ₹161, around 60% premium. However, it's important to note that while GMPs can provide some insight into market sentiment towards an IPO, they are not always a reliable predictor of the stock's performance upon listing.

Trust Fintech IPO Details

The company aims to raise approximately ₹63.45 crore from the offering. The net proceeds will be utilized for various purposes, including setting up a new development facility, upgrading IT infrastructure, enhancing existing products, and funding business development, sales, marketing, and general corporate expenses.

The price band for the Trust Fintech IPO is set at ₹95-101 per equity share, with a face value of Rs. 10 per share. The IPO comprises a fresh issue of 62.82 lakh equity shares through the book-building route. Corporate Capital Ventures Private Limited serves as the sole Book Running Lead Manager for the issue.

Ahead of the IPO, Trust Fintech successfully completed its Anchor book subscription, raising ₹18.05 crore from the sale of 17.88 lakh equity shares at ₹101 each. Notable investors participating in the anchor book subscription include Finavenue Capital Trust, Persistent Growth Fund, Vikasa India EIF I Fund, Acintyo Investment Fund PCC, Astrone Capital VCC, Craft Emerging Market Fund PCC, and Chanakya Opportunities Fund.

Trust Fintech Company Details

Trust Fintech, founded by Hemant Chafale, Heramb Ramkrishna, and Mandar Kishor Deo, specializes in providing SaaS product-focused fintech software solutions. Over the past 25 years, the company has adapted to technological and market shifts, evolving its business model and product offerings.

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Posted In: NewsIPOsTrust Fintech