Beacon Trusteeship IPO opens for subscription: Check price band and key details - Hindustan Times
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Beacon Trusteeship IPO opens for subscription: Check price band and key details

By | Edited by Mallika Soni
May 28, 2024 11:26 AM IST

Beacon Trusteeship IPO: The basis of allotment of shares will be finalised on May 31 and the company will initiate refunds on June 3.

Beacon Trusteeship IPO: The initial public offering of Beacon Trusteeship opened for subscription today (May 28). The issue will close on May 30 and its price band has been fixed in the range of 57 to 60 per share. The lot size of the IPO is 2,000 shares and 50% of the net offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% of for non-institutional investors. The company- founded in 2015- provides trustee services in a number of areas, including bond Trusteeship, escrow, safekeeping, debenture and security. Its profit after tax (PAT) climbed by 34.25% between March 31, 2024, and March 31, 2023 while its revenue increased by 33%.

Beacon Trusteeship IPO: Beacon Trusteeship IPO opens on May 28 and closes on May 30 at a price band of <span class='webrupee'>₹</span>57-60 per share.
Beacon Trusteeship IPO: Beacon Trusteeship IPO opens on May 28 and closes on May 30 at a price band of 57-60 per share.

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Beacon IPO details

The IPO is worth 32.52 crore and consists of a fresh issuance of 3,872,000 equity shares at face value of 10, and a 1,548,000 equity shares as offer-for-sale. The company's promoters are Pratapsingh Indrajitsingh Nathani and Prasana Analytics Private Limited.

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The book running lead manager is Beeline Capital Advisors Pvt Ltd. The registrar is Kfin Technologies Limited while Spread X Securities is the Beacon Trusteeship IPO market maker.

Beacon IPO objectives

Net proceeds from the IPO will be used by the company to expand its technological infrastructure, acquire Beacon RTA Services Private Limited and for general corporate purposes.

Beacon IPO key dates

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The basis of allotment of shares will be finalised on May 31 and the company will initiate refunds on June 3. The shares are likely to be listed on NSE SME on June 4.

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