Are you interested in investing in Initial Public Offerings (IPOs)?
If so, here’s some exciting news for you: Beacon Trusteeship Limited is gearing up to launch its IPO, aiming to raise over Rs 32 crore.
Key Details of the IPO
Opening and Closing Dates
The IPO of Beacon Trusteeship Limited is scheduled to open on May 28 and close on May 30. Anchor investors will have the opportunity to bid on May 27.
The price band for the issue has been set at Rs 57-60 per share.
Post the successful completion of the IPO, the company’s shares will be listed on NSE Emerge. The IPO comprises 38.72 lakh new shares valued at Rs 23.23 crore
and an offer for sale (OFS) of 15.48 lakh shares worth Rs 9.29 crore, making the total size of the IPO Rs 32.52 crore.
Utilization of IPO Proceeds
The company plans to allocate Rs 7 crore towards creating technology infrastructure for its existing business.
Additionally, it intends to invest Rs 6.99 crore in its subsidiary, Beacon Investor Holdings, to kickstart services as a depository participant, registrar,
and share transfer agent. Another Rs 3.25 crore is earmarked for the purchase of new office premises in Borivali, Mumbai. The remainder of the proceeds will be utilized for general company operations.
Beeline Capital Advisors is the sole book-running lead manager of this IPO, while KFIN Technologies serves as the registrar of the offer.
About Beacon Trusteeship Limited
Beacon Trusteeship Limited is a SEBI registered debenture trustee established in 2015.
The company boasts a total of 18 shareholders, collectively owning approximately 1.41 crore shares.
Prasanna Analytics holds the highest stake, with over 91 lakh shares. In the financial year 2023-24, the company reported a profit of Rs 5.16 crore and a revenue of Rs 19.92 crore.
Comparatively, in the financial year 2022-23, it recorded a revenue of Rs 14.81 crore and a profit of Rs 3.84 crore.
