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Trust Fintech IPO
Price Band
₹95.0–101.0
Issue Size
₹63.45 Cr
Lot Size
1,200 shares
Min Investment
₹121,200
GMP
+₹45.0 (44.55%)
Issue Price
₹101.0
Subject to Sauda
₹41000
Paid only if allotted
Trust Fintech IPO AI Summary
- Trust Fintech IPO is listed on NSE SME in the Software Products sector.
- Price band: ₹95.0–₹101.0 per share, lot size 1,200 shares (min. investment ₹121,200).
- Subscription window: 26 Mar–28 Mar 2024, listing on 04 Apr 2024.
- Current GMP is +₹45.0 (44.55%), an estimated listing price of ₹146 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Trust Fintech IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 28 Mar 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Trust Fintech IPO Grey Market Premium (GMP) Today
GMP
+₹45.0
GMP %
+44.55%
Est. Listing
₹146.0
Updated: 25 Jul 2026 14:06
About the Company
Incorporated in 1998, Trust Fintech Limited is a software development company that specializes in providing Core Banking Software, IT Solutions, ERP Implementation, Customized Software Solutions Development, SAP B1, and Offshore IT services for the BFSI sector. The company offers 10+ banking products for commercial, cooperative banks, and financial institutions. These include Core Banking, Loan Origination, GST Compliance, Financial Accounting, Billing, SAP B1 services, add-on modules for statutory report generation, ATM reconciliation, anti-money laundering, agency banking, and mobile banking. The company's product portfolio consists of Banking Software Software as a Service The Flagship product of the company TrustBankCBS is a web-based software, and it is available "on-premises with infrastructure", i.e. it offers the flexibility to the customer to deploy TrustBankCBS on their own premises with customized infrastructure. The company has provided services in India, Srilanka, Nepal, California, Ghambia, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe, and few more countries. It has a global footprint in more than 25 countries and a global customer base of more than 200 BFSI with Core Banking. The company has obtained various quality certifications, such as ISO 27001:2013 and ISO 9001:2015. The organization operates through offices in Nagpur, Pune, and Mumbai, with a total area of 1064.42 sq. meters and more than 250 employees.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 39.89 | 31.19 | 19.59 | 15.90 |
| Total Income | 18.83 | 22.70 | 18.00 | 24.18 |
| Profit After Tax | 7.28 | 4.02 | 1.34 | 2.20 |
| NET Worth | 34.47 | 27.19 | 15.16 | 13.83 |
| Reserves and Surplus | 29.28 | 22.00 | 9.98 | 8.64 |
| Total Borrowing | -0.34 | -0.04 | 1.19 | -0.44 |
Key Ratios
EPS
₹2.29
NAV
₹51.04
ROE
23.61%
ROCE
28.54%
RoNW
27.51%
P/B Value
1.98
P/E Ratio
44.05
Market Cap
₹240.63 Cr
PAT Margin
38.66%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Veefin Solutions Ltd | 31.11 | 0.79% | 220.95 | 0.17 | 0.17 |
| Network People Services Technologies Limited | 59.58 | 30.18% | 17.18 | 15.72 | 15.72 |
| Trust Fintech Limited This IPO | 51.04 | 27.51% | — | 14.04 | 14.04 |
Promoters
Hemant Padmanabh Chafale, Sanjay Padmanabh Chafale, Heramb Ramkrishna Damle, Anand Shankar Kane and Mandar Kishor Deo
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Setup additional Development facility, instalment of fit outs and interior design works in Nagpur, Maharashtra 15.19 2 Investment in Procuring Hardware and upgrading IT infra 3.00 3 Funding for expenditure related to enhancement and upgrading existing Product 15.00 4 To meet out the Global & Domestic Business Development, Sales and Marketing expenses for the company 9.03 5 General Corporate Expenses * 13.98
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹18.83 Cr for the period ending 30 Sep 2023, down from ₹22.70 Cr for the year ending 31 Mar 2023. This decline is notable as the latest figure reflects a 9-month period, not a full fiscal year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹7.28 Cr for the period ending 30 Sep 2023, an increase from ₹4.02 Cr for the year ending 31 Mar 2023. This indicates a positive growth trend in profitability.
Valuation
Trust Fintech's EPS is ₹2.29, leading to a P/E ratio of 44.05 at the issue price. In comparison, its peers have P/E ratios ranging from 17.18 to 220.95. This positions Trust Fintech at a higher valuation compared to some peers.
Grey Market Premium, Explained
The grey market premium (GMP) indicates the expected listing gain of an IPO based on unofficial trading before its official listing. A higher GMP suggests strong demand, while a lower GMP may indicate weaker interest from investors.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Investors with a low-risk appetite or those seeking immediate returns might consider avoiding this IPO, as it may involve short-term market fluctuations.
Listing Gains — The Risk
Listing-day gains can be unpredictable. Factors such as market conditions, investor sentiment, and overall demand for the IPO can influence the stock price on its debut. It's important to understand that while some IPOs may see significant gains, others may not perform as expected.
This evaluation is generated from Trust Fintech's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Trust Fintech IPO GMP today?
Trust Fintech IPO GMP today is +₹45.0 (44.55%), indicating an estimated listing price of ₹146. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Trust Fintech IPO?
The price band of Trust Fintech IPO is ₹95.0–₹101.0 per share.
When does Trust Fintech IPO open and close?
Trust Fintech IPO opens on 26 March 2024 and closes on 28 March 2024.
When does Trust Fintech IPO list on the stock exchange?
Trust Fintech IPO listed on 04 April 2024 at ₹146.0.
What is the lot size for Trust Fintech IPO?
The lot size for Trust Fintech IPO is 1200 shares, requiring a minimum investment of ₹121,200.
What is the price band for the IPO?
The price band for the IPO is ₹95.0 to ₹101.0.
What is the minimum investment amount?
The minimum investment amount is ₹121,200.
What is the lot size for this IPO?
The lot size for this IPO is 1200 shares.
When does the IPO open and close?
The IPO opens on March 26, 2024, and closes on March 28, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing gain of an IPO based on unofficial trading before its official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
26 Mar 2024
Close
28 Mar 2024
Allotment
02 Apr 2024
Listing
04 Apr 2024
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