Trust Fintech IPO

Trust Fintech Limited

₹1,14,000 /1200 sharesMinimum Investment

Trust Fintech IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
NSE₹101.00₹143.25₹42.25 (41.83%)
Trust Fintech IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
26 Mar ‘24 - 28 Mar ‘24₹1,14,0001,200₹95 - ₹101
Issue SizeIPO Doc
63.45CrRHP PDF
About Trust FintechTrust Fintech Limited is a Nagpur-based SaaS (software as a service) company that offers Core Banking Software, IT Solutions, ERP Implementation, Customized Software Solutions Development, SAP B1 services, and Offshore IT services for the BFSI sector. The company’s offerings are primarily divided into two categories, Banking software and Other solutions.
Some of the banking products offered by the company for commercial, cooperative banks, and financial institutions include Core Banking, GST Compliance, Loan Origination, anti-money laundering, Billing, Financial Accounting, add-on modules for statutory report generation, SAP B1 services, ATM reconciliation, agency and mobile banking.
Trust Fintech Limited holds certain quality certifications including ISO 27001:2013 for information security management, ISO 9001:2015 for quality management, and CMMI Level 5 for software development process maturity. The company’s offices are situated in Nagpur, Pune, and Mumbai. ;
Parent Organisation
Trust Fintech Limited
Founded
1998
Managing Director
Mr. Hemant Padmanabh Chafale
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.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹95 - 101₹2 Lakh
High Networth Individual₹95 - 101₹2 - 5 Lakh
For Trust Fintech IPO, eligible investors can apply as Regular.

Listed On	Issue Price	Listing Price	Listing Gains
NSE	₹101.00	₹143.25	₹42.25 (41.83%)

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

Apply as	Price band	Apply upto
Regular	₹95 - 101	₹2 Lakh
High Networth Individual	₹95 - 101	₹2 - 5 Lakh

Vaishnavi Tech Park, 3rd & 4th Floor
Sarjapur Main Road, Bellandur
Bengaluru – 560103
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