Beacon Trusteeship IPO: Public issue opens on May 28, key factors to check before bidding

Beacon Trusteeship Ltd IPO will open on Tuesday, May 28. The initial public offering of the debenture trustee is a book-built issue worth ₹32.52 crore.

The NSE SME public offer comprises a fresh issue of 38.72 lakh shares, amounting to ₹23.23 crore, and an offer-for-sale (OFS) of 15.48 lakh shares worth ₹9.29 crore.

Beacon Trusteeship IPO dates

Beacon Trusteeship IPO subscription window will remain open from May 28 to May 30.

The allotment status for the Beacon Trusteeship IPO is expected to be finalised on Friday, May 31. The company is expected to initiate refunds for unsuccessful bidders and the credit of shares to the Demat accounts of successful applicants by June 3.

Beacon Trusteeship Ltd IPO listing date is tentatively fixed as June 4. Shares of Beacon Trusteeship Ltd will list on the NSE SME platform.

Beacon Trusteeship IPO price band and lot size

The price band for the Beacon Trusteeship IPO has been set in the range of ₹57 and ₹60 per share.

For retail investors, the minimum lot size is 2,000 shares, aggregating to an investment of ₹1,20,000. The maximum investment for retail investors is also capped at 2,000 shares. For high net-worth individuals (HNIs), the minimum lot size is 4,000 shares, requiring an investment of ₹2,40,000.

Beacon Trusteeship IPO registrar and promoters

For the Beacon Trusteeship IPO, Beeline Capital Advisors Pvt Ltd is the book-running lead manager, with Kfin Technologies Limited serving as the registrar. Spread X Securities will act as the market maker for the IPO.

Prasanna Analytics Private Limited and Pratapsingh Indrajitsingh Nathani are the promoters of the company, holding a 67.88% stake pre-issue, which will reduce to 46.14% post-issue.

Beacon Trusteeship IPO objective

Beacon Trusteeship plans to use the net proceeds from the fresh issue for various purposes. This includes allocating ₹7 crore to build up technology infrastructure for the existing business. Additionally, ₹6.99 crore will be earmarked to invest in the wholly-owned subsidiary, Beacon Investor Holdings Private Limited, to launch services as a depository participant and registrar, and share transfer agent.

Apart from this, ₹3.25 crore will be directed towards the purchase of new office premises. A portion of the proceeds will also be set aside for general corporate purposes.

Beacon Trusteeship financial performance

During the fiscal year 2023-24, the company’s revenue from operations amounted to approximately ₹19.92 crore, accompanied by a profit after tax (PAT) of Rs 5.16 crore. This marked an improvement compared to the previous fiscal year, FY2022-23, when revenue was at ₹14.81 crore and the PAT stood at ₹3.84 crore.

In FY22, Beacon Trusteeship reported a net profit of ₹3.61 crore and revenue from operations at ₹10 crore.

About Beacon Trusteeship Limited

Beacon Trusteeship is SEBI registered debenture trustee incorporated in 2015. It was founded by a group of ex-bankers and professionals with extensive experience in the trusteeship sector. The company caters to a diverse clientele, including banks, financial institutions such as insurance companies, mutual funds, and NBFCs, government organisations, AIFs, MNCs, family offices and HNIs, both in India and abroad.

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