In the past few years year, there were several fintech startups have brought the Initial Public offer of their company to raise funding from the market. This time Trust Fintech Limited has filed the draft red herring prospectus with NSE Emerge. The company filed the DRHP on Monday 12th Feb, 2024. Let’s discuss all the details below and learn key information like issue size and much more about this Trust Fintech Limited IPO.
Trust Fintech Limited is planning to offer fresh equity of 62,82,000 equity shares with a face value of ₹10 for each share. As per the DRHP filed by the company, Trust Fintech Limited will utilize the funds through IPO to expand the business and establish a new development facility at Mihan SEZ in Nagpur. Also, the company will enhance the standard of its existing products. The IPO date is yet to be announced by the company. If the company gets approval on its DRHP, it will announce the important dates related to the IPO.
Trust Fintech Limited has appointed Corporate Capital Ventures as its Book running Lead Manager to the Issue and Bigshare Services Private Limited is the Registrar of the company for this Initial Public Offer.
In the past few years, it was noticeable that Trust Fintech Limited has expanded its business in India aggressively. The company also has global-level business and follows the compliances of the global BFSI sector.
Currently, Trust Fintech Limited is operating business in India through its primary offices in Nagpur, Pune, and Mumbai. It has over 263 employees right now. But planning to expand the number of employees to 1000 by next three years.
Now discussing the revenue of this company, Trust Fintech has reported a total revenue of ₹18.83 cr and Profit After Tax (TAX) of ₹7.27 Cr in the first half of FY24 which ended on September 30, 2023. Stay tuned to know more details about the Trust Fintech IPO.