Beacon Trusteeship IPO opens on May 28: Important dates, price band and key things to know

Debenture trustee Beacon Trusteeship will launch its ₹32.52 crore initial public offering (IPO) on Tuesday, May 28, 2024. The issue, which has set a price band of ₹57-₹60, will close on May 30.

The book-built issue consists of a fresh issuance of more than 38 lakh equity shares and an offer for sale (OFS) of shares worth ₹9.29 crore. The shares will be listed on the NSE Emerge platform.

For retail investors, the maximum and minimum lot size is 2,000 shares, valued at ₹1,20,000. High net-worth individuals (HNIs) can bid for at least two lots worth ₹2,40,000.

Pratapsingh Nathani and Prasanna Analytics Private Ltd are the company's promoters. They hold a 67.88% stake, which will be reduced to 46.14% after the listing.

The net proceeds from the IPO will be used to improve the technology infrastructure, acquire Beacon RTA Services Private Ltd, purchase new office premises, and for general corporate purposes.

To know more and apply for Beacon Trusteeship IPO, click here.

Beacon Trusteeship: Key dates

• Bidding dates: May 28 to May 30
• Allotment finalisation: May 31
• Refund initiation: June 3
• Transfer of shares to demat account: June 3
• Listing on NSE Emerge: June 4

About Beacon Trusteeship

Beacon Trusteeship offers a wide range of trusteeship services, including debenture trustee services, trustee to alternate investment fund (AIF), security trustee services, securitisation trustee, trustee to ESOP, bond trusteeship services, safekeeping, escrow services and other allied services.

The company is managed by professionals have experience in investment banking, debt syndication, finance, and financial services. It provides its services by acting as a mediator between the issuer firm or entity and investors.

"Our company as a debenture trustee plays a pivotal role in our scope of work under trusteeship services, includes due diligence, custodial services, monitoring compliance, documentation, disclosures, record keeping etc," Beacon Trusteeship said in its IPO papers.

In the financial year 2022-23, the company reported a consolidated net profit of ₹3.8 crore, up 6.3% from ₹3.6 crore in the last fiscal year. Revenue from operations grew 47.7% year-on-year to ₹14.8 crore.

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