Trust Fintech stock lists at 42% premium on NSE SME platform

Trust Fintech debuted on NSE SME platform at a 41.8% premium. The IPO had overwhelming investor response, issuing 62.82 lakh shares. Proceeds will be utilized for various purposes including development and global expansion.

Shares of debuted on the NSE SME platform at a premium of 41.8% on Thursday. The stock was listed at Rs 143.25, compared with an offer price of Rs 101.

were trading with a GMP of Rs 60 in the unlisted market just prior to the debut.

The IPO, which was completely a fresh equity issue of 62.82 lakh shares, received 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, 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 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.

The company has evolved in the last 25 years and adapted to the technological and market shifts to reach the current business model and product version.

It has invested in developing more than 10 banking related products for commercial and cooperative banks and financial institutions, which comprise core banking software, loan origination software among others.

Since the company provides banking solutions, all the products are built keeping in mind the RBI compliance requirements, which the banks have to follow.

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 $47.37 billion by 2030, exhibiting a CAGR of 18.4% during the forecast period.

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

Corporate Capital Ventures acted as the lead manager to the issue and Bigshare Services was the registrar.

Source: Stocks-Markets-Economic Times

Последние публикации
Harris accepts CNN invitation to second debate, urges Trump to join
21.09.2024 - 20:00
Court gives 5 days for X to validate its Brazil legal representative
21.09.2024 - 19:00
Hedge funds well-positioned to navigate market swings, says UBS
21.09.2024 - 18:00
SAIC Volkswagen says adjusting plant base "necessary"
21.09.2024 - 13:00
Selling season, election ahead, but keep an eye on ’25, says Wells Fargo
21.09.2024 - 13:00
Investors should de-risk ahead of US elections, BCA says
21.09.2024 - 13:00
How to play the AI Enterprise Software revolution
21.09.2024 - 12:00
Qualcomm approached Intel about a takeover in recent days, source says
21.09.2024 - 08:00
Eliem therapeutics executive sells over $9,000 in company stock
21.09.2024 - 06:00
Nvidia's principal accounting officer sells shares worth over $520,000
21.09.2024 - 05:00
Mara Holdings CFO sells over $262k in company stock
21.09.2024 - 05:00
Mara Holdings CEO sells shares worth over $430k
21.09.2024 - 05:00
Nvidia CFO Colette Kress sells shares worth over $7.7 million
21.09.2024 - 05:00
X names Brazil legal representative as it fights ban in the country
21.09.2024 - 05:00
Viking therapeutics director sells shares worth over $715,000
21.09.2024 - 05:00

© Analytic DC. All Rights Reserved.

new
Анализ трейдера Анализ трейдера за 20.09.24
Добро пожаловать в чат поддержки!
*
*

Ваш запрос успешно отправлен!
Скоро с вами свяжутся.