Pre-IPO Funding: Trust Fintech, a Software Entity bags Rs. 5.42 Crore
In a pre-IPO funding round, software solutions firm Trust has raised 5.42 crores. The shares are anticipated to list on the NSE Emerge in March after the company submits a preliminary prospectus for an initial public offering.
The investors in the funding round included Tejas Goenka, Managing Director of Tally Solutions; Nitin Sathawane, Chief Executive Officer at Mphasis Canada; Ramnath Raikar, former Head of Finance for HDFC Bank and Sameer Gupte, MD NSDL Data Management Ltd.
A new issue of 62,82,000 equity shares will be made in the IPO.
According to the Draft Red Herring Prospectus (DRHP), the company plans to use the revenues from the IPO for a number of things, such as building a new development facility at the Mihan SEZ in Nagpur and financing the expansion of its domestic and international business.
For this issue, the book-running lead manager is Corporate Capital Ventures Pvt Ltd. Largeshare Services Pvt Ltd is the issue's registrant. For the first half of the current fiscal year, the company generated sales of Rs. 18.83 crore and profit of Rs. 7.27 crore.
The startup which has its headquarters in agpur, offers offshore IT services, SAP B1, ERP implementation, custom software solution development, and fintech software solutions for the BFSI industry.
The investors in the funding round included Tejas Goenka, Managing Director of Tally Solutions; Nitin Sathawane, Chief Executive Officer at Mphasis Canada; Ramnath Raikar, former Head of Finance for HDFC Bank and Sameer Gupte, MD NSDL Data Management Ltd.
A new issue of 62,82,000 equity shares will be made in the IPO.
According to the Draft Red Herring Prospectus (DRHP), the company plans to use the revenues from the IPO for a number of things, such as building a new development facility at the Mihan SEZ in Nagpur and financing the expansion of its domestic and international business.
For this issue, the book-running lead manager is Corporate Capital Ventures Pvt Ltd. Largeshare Services Pvt Ltd is the issue's registrant. For the first half of the current fiscal year, the company generated sales of Rs. 18.83 crore and profit of Rs. 7.27 crore.
The startup which has its headquarters in agpur, offers offshore IT services, SAP B1, ERP implementation, custom software solution development, and fintech software solutions for the BFSI industry.
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