Trust Fintech IPO Allotment Status

Building blocks of the Trust Fintech Limited IPO

Trust Fintech IPO is book-built issue of Rs 63.45 crores, consisting entirely of fresh issue shares totalling 62.82 lakh.
Trust Fintech IPO commenced its subscription period on March 26, 2024, & concludes today, March 28, 2024.

Allotment is scheduled for Tuesday, April 2, 2024, with listing on NSE SME tentatively set for Thursday, April 4, 2024.
Price band for Trust Fintech IPO ranges from ₹ 95 to ₹ 101 per share. Retail investors are required to apply for minimum lot size of 1200 shares, amounting to ₹121,200. For HNIs, minimum lot size is 2 lots (2,400 shares), requiring investment of ₹242,400.

Corporate Capital ventures Pvt Ltd is book running lead manager of Trust Fintech IPO, while Bigshare Services Pvt Ltd is registrar for issue. Market maker for Trust Fintech IPO is Corporate Securities.

How to checking allotment status of Trust Fintech Ltd IPO?

Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can check your allotment status only on the website of the IPO registrar, Bigshare Services Pvt Ltd. Alternatively, if your broker provides you a link to access the allotment status, you can do the same. Here are the steps that you need to follow to check allotment status on the website of the IPO registrar, Bigshare Services Pvt Ltd. The same can typically checked once the basis of allotment is finalized in this case, which will be late on 28thMarch 2024.

Checking the allotment status on Bigshare Services Pvt Ltd (Registrar to IPO)

Visit the Bigshare Services Pvt Ltd registrar website for checking the IPO allotment status by clicking on the link below:

https://ipo.bigshareonline.com/IPO_Status.html#google_vignette

There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Bigshare Services Pvt ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.

Once you go to the main allotment status page of Bigshare Services Pvt Ltd the investors have 2 options. They can either query for the IPO allotment status based on the Application Number or on the basis of a combination of DP ID and Client ID. Here is how you can go about both these options.

•    To Query by Application Number, click on the “Search on Application No.” hyperlink. This will take you to a fresh page with a box provided to input the application number. Here is what needs to be done.

o    Enter the Application Number as it is
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

•    To Query by DP-ID, click on the “Search on DP-id/Client id” hyperlink. This will take you to a fresh page with 2 boxes provided to input the DP ID and the Client ID in that order. Here is what needs to be done.

o    Enter the DP-ID
o    Enter the Client-ID
o    Enter the 6-digit Captcha Code
o    Click on Submit button
o    Allotment Status gets displayed on screen showing number of shares allotted

Bigshare Services Pvt Ltd offers you the facility to toggle between the two search options of application number and DP id, without going back to the main page. It is a good idea to take  a screenshot of the final output for your records and also for reconciliation with the demat account on the demat allotment date.

There are some basic rules to remember here. The basis of allotment is being finalized on 02ndApril 2024, so the investors would be able to access the online allotment status facility, either late on 02ndApril 2024 or by the middle of 02ndApril 2024. Once you get the online output, you can save a screenshot of the same, so that the same can be later reconciled with the demat credit on 03rdApril 2024 or later. It would appear on the demat account with ISIN Number.

How allocation quota and subscription impact basis of allotment

Here is a quick look at how the allocation was made across different categories of investors in the IPO of trust Fintech ltd at the closed of the IPO on 28thMarch 2024.

Data Source: NSE

Subscription data for Trust Fintech IPO demonstrates overwhelming investor interest, with subscription levels soaring to 108.63 times total shares offered.

Retail investors exhibited strong interest, subscribing 75.09 times, showcasing robust demand from individual investors. This high retail subscription indicates widespread retail participation & confidence in IPO. Qualified Institutions subscribed 65.38 times, indicating substantial interest from institutional investors. Their participation suggests confidence in Trust Fintech's business prospects & growth potential.

Non-Institutional Buyers (NII) category witnessed exceptional demand, subscribing remarkable 244.48 times. This overwhelming subscription underscores strong demand from high-net-worth individuals & other non-institutional investors. Anchor investors & market makers subscribed to their respective portions, reflecting initial confidence in IPO's prospects.

Overall, Trust Fintech IPO garnered significant oversubscription across all investor categories, reflecting robust market demand & positive investor sentiment. Exceptional subscription levels indicate investor confidence in Trust Fintech's business model, leading to expectations of successful listing & strong market performance post-listing.

Here is final subscription status of Trust Fintech Ltd IPO as at closed on 28th March 2024.

To sum it up, the oversubscription is quite above modesty, so the chances of allotment in the IPO would be relatively higher. This applies to the retail portion and also to the HNI / NII portion; as the subscription is very modest in both the categories.

Next steps in the IPO of Trust FIntech Ltd

With the IPO of Trust FIntech Ltd closed for subscription at the end of 28thMarch 2024, the next piece of action shifts to the finalization of the basis of allotment and later to the listing of the IPO. The basis of allotment will be finalized on 2ndApril 2024 while the refunds would be initiated on 3rdApril 2024. The shares of Trust Fintech would be credited to the demat accounts of eligible shareholders by the close of 3rd April 2024 while the stock of Trust FIntech Ltd is expected to be listed on 4thApril 2024. The listing will happen on the NSE SME segment for small companies, which is distinct from the regular mainboard IPO space.

nvestors would do well to remember that the level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been very modest in the IPO; both in the Retail segment and also in the HNI / NII segment.

Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check. You can apply the above allotment checking process flow after the basis of allotment is finalized.