Trust Fintech IPO Makes Strong Debut with 42% Premium

Trust Fintech IPO made remarkable debut on NSE SME platform, with its shares listing at substantial premium of 41.83% on Thursday. Stock opened at ₹143.25 per share, significant jump from its issue price of ₹101. listing closely aligned with market expectations, as indicated by IPO Grey Market Premium (GMP) of ₹45 per share, suggesting potential listing price of around ₹146 per share, marking 44.55% premium over IPO price.

Trust Fintech initial public offering (IPO), launched on March 26, aimed to raise capital from primary markets. Trust Fintech specializes in software development, focusing on providing Core Banking Software, IT Solutions, ERP Implementation, & Customized Software Solutions Development, particularly catering to BFSI sector. IPO garnered immense interest from investors, with bidding period lasting from March 26 to March 28. Subscription status reflected robust demand, with oversubscription levels reaching impressive 108.63 times in total. Notably, IPO received overwhelming responses across all investor categories, with retail, Qualified Institutional Buyers (QIBs), & Non-Institutional Investors (NIIs) segments witnessing subscription levels of 75.10 times, 65.38 times, & 244.48 times, respectively.

Read more about Trust Fintech IPO

Trust Fintech IPO was exclusively fresh equity issue of 62.82 lakh shares, aiming to raise ₹63.45 crore. Price band for IPO ranged from ₹95 to ₹101 per equity share, with minimum lot size of 1,200 shares. Company outlined various utilization plans for net proceeds, including setting up additional development facilities, upgrading IT infrastructure, enhancing existing products, & covering business development & general corporate expenses.

Despite its strong listing performance, Trust Fintech's IPO debut was not without anticipation, as shares were trading with GMP of ₹60 in unlisted market. However, stock's listing premium exceeded expectations, showcasing investor confidence in company's growth prospects.

Trust Fintech's listing on NSE SME platform underscores its successful foray into public markets, reflecting investor optimism & demand for its offerings. With promising start, company is well-positioned to leverage its IPO proceeds for expansion & development initiatives, further solidifying its foothold in BFSI software solutions sector.

Read Trust Fintech IPO Subscribed 108.63 times

To Summarize

Incorporated in 1998, Trust Fintech has established itself as leading player in software development domain, offering diverse range of products & services tailored to meet evolving needs of its clients in banking & financial services industry. Successful IPO listing reaffirms Trust Fintech's commitment to innovation & growth, signaling promising trajectory for company's future endeavors.