Trust Fintech IPO listing: Debuts at 42% premium on NSE SME platform

Trust Fintech IPO listing: Shares of Trust Fintech debuted on the NSE SME platform at a premium of 41.8%. The stock listed at ₹143.25 against an offer price of ₹101. Ahead of the listing, shares of the company were trading with a GMP of ₹60 in the unlisted market. Trust Fintech IPO was a completely a fresh equity issue of 62.82 lakh shares. The issue received an overwhelming response from investors with a subscription of 100 times on the last day of bidding.

Trust Fintech IPO objectives: Net proceeds from the public offer will be used by the company to set up additional development facilities, procure hardware, meeting global and domestic business development and general corporate purposes, it said. Corporate Capital Ventures acted as the lead manager to the issue and Bigshare Services was the registrar.

Trust Fintech IPO details: The initial public offering for Trust Fintech opened for subscription on March 26 and closed on March 28. The price band of the IPO was in the range of ₹95 to ₹101 per equity share of face value of ₹10 each while the lot size of the IPO consisted of 1,200 shares.

Bids could be placed for 1,200 equity shares as a minimum and in multiples of 1,200 equity shares while the IPO reserved a total of 20.88 lakh equity shares in the retail (RII) portion, 3.18 lakh equity shares for market makers, 8.95 lakh equity shares for HNIs and 11.92 lakh equity shares for QIBs.