Unlisted shares of Beacon Trusteeship Limited are trading Rs 90 higher in the grey market, expecting a strong 150 per cent listing gain from the public issue
Beacon Trusteeship IPO: The initial public offering of Beacon Trusteeship Ltd has been opened for public subscription on May 28. The Rs 32.52-crore SME IPO has been oversubscribed within an hour of its opening. Till 11:10 am on the first day of bidding on Tuesday, the IPO received a 1.62 times subscription, garnering bids for 58,24,000 shares as against 36,06,000 shares on offer.
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The Beacon Trusteeship IPO will be closed on Thursday, May 30.
The retail category has received a 1.97 times subscription, while the non-institutional investor (NII) category got a 2.92 times subscription.
The Beacon Trusteeship IPO allotment will likely be finalised on May 31, while the listing will take place on June 4 on the NSE SME.
The price band of the IPO has been fixed at Rs 57-Rs 60 per share.
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Beacon Trusteeship IPO GMP Today
According to market observers, unlisted shares of Beacon Trusteeship Limited are trading Rs 90 higher in the grey market as compared with its issue price. The Rs 90 grey market premium or GMP means the grey market is expecting a strong 150 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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About Beacon Trusteeship IPO
Beacon Trusteeship IPO is a combination of fresh issue of 38.72 lakh shares aggregating to Rs 23.23 crores and offer for sale of 15.48 lakh shares aggregating to Rs 9.29 crores.
Beacon Trusteeship IPO price band is set at ₹57 to ₹60 per share. Investors needed to apply for a minimum of 2,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,20,000 [2,000 (lot size) x Rs 60 (upper price band)].
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Beacon Trusteeship IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Beacon Trusteeship IPO is Spread X Securities.
Beacon Trusteeship’s revenue rose 33 per cent and profit after tax (PAT) increased 34.25 per cent between the financial year ending with March 31, 2024 and March 31, 2023.
Beacon Trusteeship Limited, established in 2015, is a debenture trustee offering trustee services in various areas such as Debenture Trustee Services, Security Trustee Services, Trustee to Alternate Investment Fund (AIF), Trustee to ESOP, Securitization Trustee, Bond Trusteeship Services, Escrow Services, Safekeeping and other related services.
