Beacon Trusteeship IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Beacon Trusteeship Limited IPO GMP

Beacon Trusteeship is a company that provides trusteeship services, acting as a middleman between companies issuing securities and the investors.

Beacon Trusteeship IPO, a book-built issue amounting to Rs 32.52 crores, consists of a fresh issue of 38.72 lakh shares aggregating to Rs 23.23 crores and an offer for sale of 15.48 lakh shares totaling Rs 9.29 crores. The subscription period for the IPO opens on May 28, 2024, and closes on May 30, 2024. The allotment is expected to be finalized on Friday, May 31, 2024, with a tentative listing date on the NSE SME scheduled for Tuesday, June 4, 2024.

The price band is set at ₹57 to ₹60 per share, with a minimum lot size of 2000 shares. Retail investors are required to invest a minimum of ₹120,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (4000 shares), amounting to ₹240,000.

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

Objective

The Net Proceeds will be utilized towards:

Building Up Technology Infrastructure for their existing business.
Investment in Wholly owned subsidiary i.e. Beacon Investor Holdings Private Limited, to commence the services of Depository Participant and Registrar & Share Transfer Agent.
Purchase of New Office Premises.
General Corporate Purpose.

The company is dedicated in investing in technology to derive the growth. Currently, they use Beacon ERP and Beacon Prosec software system and they intend to expand operations by broadening and deepening service offerings. This will help the company to increase the productivity by automating workflows and using better search capabilities.

Company intends to extend their Current Service Portfolio as a Debenture Trustee and enter into the Services provided by Depository Participant and Registrar & Share Transfer Agent through its wholly owned subsidiary i.e. Beacon Investor Holdings Private Limited (Formerly known as Beacon RTA Services Private Limited).

Currently, Company is operating from registered office situated Bandra, Maharashtra, India. With Purchase of New Premises, the client officials gets confidence when the personally visits the office premises resulting into good mileage over the existing and proposed business.

Grey Market Premium (GMP) of Beacon Trusteeship

The Grey Market Premium is expected in the range of Rs. 18 to Rs.30 based on the growth and performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.