Beacon Trusteeship IPO booked over 130 times on day 2: Check subscription, allotment status and other details

The Beacon Trusteeship IPO was oversubscribed by an impressive 130 times on the second day of its bidding, Wednesday, May 29.

The initial public offer of the debenture trustee received bids for nearly 46.93 crore shares against 36.06 lakh shares on offer, leading to an overall subscription of 130.13 times, as per the NSE data.

In the retail category, the public issue was booked 192 times, while in the Qualified Institutional Buyers’ (QIBs) category, it stood at 9.68 times. The Non-Institutional Investors (NIIs) booked their portion 146.48 times.

In the NII category, the investors applied for 11.34 lakh shares compared to 7,74,000 shares on offer. The retail investors submitted bids for 34.59 crore shares against 18.02 lakh shares set aside for them.

In the QIB category, compared to 10.3 lakh shares on offer, applications were received for 99.78 lakh shares.

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Beacon Trusteeship IPO details

The Beacon Trusteeship IPO, valued at ₹32.52 crore, is a book-built issue. It comprises a combination of a fresh issue of 38.72 lakh shares, amounting to ₹23.23 crore, and an offer for sale of 15.48 lakh shares worth ₹9.29 crore.

Beeline Capital Advisors Pvt Ltd is serving as the book running lead manager for the Beacon Trusteeship IPO, with Kfin Technologies Limited being the registrar for the issue. Spread X Securities has assumed the role of the market maker for the Beacon Trusteeship IPO.

Beacon Trusteeship IPO dates

The subscription window for the Beacon Trusteeship IPO commenced on May 28 and will conclude on May 30. The basis of allotment is expected to be disclosed on May 31. The Beacon Trusteeship IPO is slated to be listed on the NSE SME platform, with a tentative listing date set for Tuesday, June 4. Refunds and transfer of shares to the Demat accounts are scheduled for June 3, a day ahead of the expected listing date.

Beacon Trusteeship IPO price band

The Beacon Trusteeship IPO has a price band ranging between ₹57 and ₹60 per share. Investors are allowed to bid for a minimum of 2,000 shares and in multiples thereof.

Retail investors can submit applications for a minimum of one lot, comprising 2,000 shares, requiring an investment of ₹1,20,000. The high net-worth individuals (HNIs) can apply for a minimum of two lots, or 4,000 shares, amounting to ₹2,40,000

Beacon Trusteeship IPO objective

A part of the proceeds from the IPO will be used by Beacon Trusteeship to enhance the company’s technology infrastructure to support the growth of its existing. Secondly, investments will be made in a wholly-owned subsidiary, Beacon Investor Holdings Private Limited, to facilitate the launch of new services as a depository participant and registrar and share transfer agent.

About Beacon Trusteeship Limited

Beacon Trusteeship Limited was incorporated in 2015 and offers a variety of trustee services to businesses in different industries. These include Debenture Trustee Services, Security Trustee Services, Trustee to Alternate Investment Fund (AIF), Trustee to ESOP, Securitisation Trustee, Bond Trusteeship Services, Escrow Services, Safekeeping, and related services.

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