Ad
HomeBuisnessTrust Fintech Files projects with NSE to raise funds through IPO Pi...

Trust Fintech Files projects with NSE to raise funds through IPO Pi News

Ad

Pi News –

Ad

Published by: Muhammad Khoris

Last Updated: 12 Feb 2024 16:10 IST

- Advertisement -

Trust Fintech, a fintech software solutions provider focused on SaaS products, said on Monday it has submitted projects to NSE Emerge to raise funds through an initial public offering (IPO).

The Nagpur-headquartered company also announced plans to increase its workforce from the current 263 employees to 1,000 over the next three years, according to a statement.

Ad

The company’s IPO is an all-new issue of 62.82 lakh equity shares of face value of Rs 10 each.

It plans to use the IPO proceeds to purchase hardware and set up a new manufacturing facility at Mihan SEZ in Nagpur to upgrade its IT infrastructure; improving, maintaining, updating existing products; financing global and domestic business development, sales, marketing and general corporate expenses.

Trust Fintech provides fintech software solutions around core banking SaaS (software as a service) products and ERP (enterprise resource planning), implementation and customized software solutions development and offshore IT services for the BFSI sector.

The company posted a total revenue of Rs 18.83 crore and a net profit of Rs 7.27 crore in the first half of the current financial year ended September 30, 2023.

Corporate Capital Ventures is the only book that guides the leading manager on this issue.

(This story is unedited by News18 staff and published from a syndicated news agency feed – PTI)

Ad
RELATED ARTICLES
Ad

Most Popular