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Trust Fintech IPO
Trust Fintech Limited
₹1,14,000 /1200 sharesMinimum Investment
Trust Fintech IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 26 Mar ‘24 - 28 Mar ‘24 | ₹1,14,000 | 1,200 | ₹95 - ₹101 |
| Issue Size | IPO Doc |
|---|---|
| 63.45Cr | RHP PDF |
About Trust Fintech
Founded in
1998
Managing director
Mr. Hemant Padmanabh Chafale
Parent organisation
Trust Fintech Limited
Strengths & Financials of Trust Fintech
Strengths
Risks
The company offers software solutions for Core Banking, ERP Implementation, and Customized Software Development. It offers over ten banking-related products serving commercial and cooperative banks and financial institutions.
In Fiscal years 2021, 2022, 2023, and the six-month period ended September 30, 2023, 62.27%, 45.92%, 35.42%, and 43.15% respectively, of the company's revenues were generated from existing customers.
The company holds multiple government / semi-government empanelments. Two of them include, empanelled by Government of India as a GSP (Goods and Services Tax) Service Provider and empanelled by the Government of Maharashtra as an IT Service Provider for state-wise computerization initiatives.
The company holds copyrights for its software products, including "TrustBankCBS," "MicroFinS," "Trust Bank Software," and "Power Plant Monitoring System (PPMS)."
The company's Core Banking Solutions and ERP Solutions are offered to established companies in both the private and public sectors. Some of the company’s clients include the International Bank of Liberia, NABARD Financial Services Ltd., Bank of Maharashtra, Syndicate Bank, and Dena Bank.
A substantial portion of the company's revenues is reliant on its Core Banking software, TrustBankCBS. Any potential loss of a major client could significantly impact the company's business operations and profitability.
The company relies heavily on its top ten clients for a substantial portion of its revenue, with approximately 80.05%, 82.10%, 78.78%, and 86.87% of revenue from operations derived from these clients for the periods ended September 30, 2023, as well as for the Fiscals 2023, 2022, and 2021 respectively.
The majority of the company's domestic sales heavily rely on its top two states, Maharashtra and Karnataka. These states account for approximately 73.52%, 87.06%, 85.71%, and 88.63% of total domestic sales for the periods ended September 30, 2023, as well as for the Fiscals 2023, 2022, and 2021 respectively.
The company and its promoters are involved in certain legal proceedings and potential litigations. Adverse decisions in these proceedings may render them liable to liabilities or penalties.
As of September 30, 2023, contingent liabilities and commitments disclosed in the notes to the Restated Financial Information amounted to Rs. 0.45 cr.
Trust Fintech Financials
*All values are in Rs. Cr
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Application Details of Trust Fintech IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹95 - 101 | ₹2 - 5 Lakh |
| High Networth Individual | ₹95 - 101 | ₹2 - 5 Lakh |
For Trust Fintech IPO, eligible investors can apply as Regular.