Beacon Trusteeship IPO will open for subscription on Tuesday, May 28, and will close on Thursday, May 30. The issue’s price band has been fixed in the range of ₹57 to ₹60 per share. The Beacon IPO lot size is 2,000 shares. The floor price is 5.7 times of the face value and the cap price is 6.0 times of the face value.
In the IPO, the following equity share allocation is made: 50% of the net offer for qualified institutional buyers (QIBs), 35% of the net offer for retail investors, and 15% of the net offer for non-institutional investors.
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Beacon Trusteeship Limited, a debenture trustee, was founded in 2015. It provides trustee services in a number of areas, including bond Trusteeship, escrow, safekeeping, debenture, security, and other related services. Additionally, it acts as a trustee to ESOP, an alternate investment fund (AIF), and securitisation.
In order to guarantee that outgoing remittances from the escrow account are credited solely to the Special Purpose Collection Account or any other account as defined in the contractual agreement, the client selects the firm to act as both an escrow and monitoring agent. The company’s range of services includes timely monitoring services, documentation, escrow mechanism setup, and drafting and vetting of escrow agreements.
Between March 31, 2024, and March 31, 2023, Beacon Trusteeship Limited’s profit after tax (PAT) climbed by 34.25%, while its revenue increased by 33%.
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Beacon IPO details
The Beacon Trusteeship IPO, valued at about ₹32.52 crore, 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 component. Beacon Trusteeship IPO raised ₹9.25 crore from anchor investors, as per chittorgarh.com.
The company’s promoters are Pratapsingh Indrajitsingh Nathani and Prasana Analytics Private Limited.
The following goals will be achieved with the proceeds from the fresh issue: expanding the company’s technological infrastructure; acquiring Beacon RTA Services Private Limited and converting it into a fully owned subsidiary to begin providing registrar and share transfer agent services; buying new office space; and general corporate purposes.
The Beacon Trusteeship IPO’s book running lead manager is Beeline Capital Advisors Pvt Ltd, while the issue’s registrar is Kfin Technologies Limited. Spread X Securities is the Beacon Trusteeship IPO market maker.
Tentatively, Beacon Trusteeship IPO basis of allotment of shares will be finalised on Friday, May 31 and the company will initiate refunds on Monday, June 3, while the shares will be credited to the demat account of allottees on Monday. Beacon Trusteeship IPO shares are likely to be listed on NSE SME on Tuesday, June 4.
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Beacon Trusteeship IPO GMP today
Beacon IPO GMP today or grey market premium is +65. This indicates Beacon Trusteeship share price were trading at a premium of ₹65 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Beacon Trusteeship share price was indicated at ₹125 apiece, which is 108.33% higher than the IPO price of ₹60.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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