Beacon Trusteeship IPO booked 31 times on day 1 led by strong retail demand: Check subscription, allotment and other details

Beacon Trusteeship Limited IPO opened to a strong demand from investors on Tuesday, May 28. The initial public offering (IPO) of the debenture trustee was booked more than 31 times on the first day of bidding.

The NSE SME IPO received bids for over 11.2 crore shares compared to 36.06 lakh shares on offer, leading to an overall subscription of 31.07 times, according to the NSE data.

The high demand for the IPO was driven by retail investors. Retail investors applied for 9.03 crore shares compared to 18.02 lakh shares reserved for the category. The retail portion was booked 50.11 times.

The Qualified Institutional Buyers (QIBs) submitted bids for 10.18 lakh shares compared to 10.3 lakh shares reserved for the category, leading to a 98% booking in the segment.

The non-institutional investors’ (NIIs) segment was booked 26.79 times as the investors applied for 2.07 crore shares against 7.74 lakh shares set aside for them.

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Beacon Trusteeship Limited IPO price band, lot size

Beacon Trusteeship Ltd IPO is a book-building issue worth ₹32.52 crore. The public offer consists of 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 offer size comprises 54.2 lakh shares, including an anchor allocation of 15.42 lakh shares and a market maker portion of 2.72 lakh shares.

The IPO price band has been fixed at ₹57 to ₹60 per share. Retail investors need to invest in one lot of 2000 shares, amounting to an application amount of ₹1,20,000.

The book running lead manager for the issue is Beeline Capital Advisors Pvt Ltd and Kfin Technologies is the registrar for the issue. The market maker for the IPO is Spread X Securities.

Beacon Trusteeship Limited IPO allotment and listing dates

Beacon Trusteeship Limited IPO subscription opened on Tuesday, May 28 and will close on Thursday, May 30.

Beacon Trusteeship Limited IPO share allotment is likely to be finalised on Wednesday, May 29. Shares will be credited to the Demat accounts of successful bidders on Thursday, May 30 and the refunds will be initiated for non-allottees the same day.

Beacon Trusteeship Limited shares are likely to be listed on May 31 on the NSE SME platform, Emerge.

Beacon Trusteeship Limited IPO objective

The company plans to use the money raised via the IPO for building technology infrastructure for existing business and for acquisition of Beacon RTA Services Private Limited to make it a wholly-owned subsidiary. The company will also use the funds for purchasing new office premises.

About Beacon Trusteeship Limited

Beacon Trusteeship Limited is a debenture trustee offering trustee services and was established in 2015. The company offers services such as debenture trustee services, security trustee services, trustee to alternate investment fund (AIF), Trustee to ESOP, securitisation trustee, bond trusteeship services, escrow services, safekeeping and other related services.

Beacon Trusteeship is engaged in providing due diligence, custodial services, compliance monitoring, documentation and other such services.

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