SME IPO Alert: Beacon Trusteeship issue opens today; check key details

The SME initial public offering (IPO) of Beacon Trusteeship opens for bidding on Tuesday, May 28. The company is offering its shares in the price range of Rs 57-60 apiece. The three-day bidding for the issue closes for bidding on Thursday, May 30, 2024. Shares of the company shall be listed on the emerge platform of the NSE.
 

Incorporated in 2015, Beacon Trusteeship is a debenture trustee offering trustee services in various areas such as Debenture Trustee Services, Security Trustee Services, Trustee to Alternate Investment Fund (AIF), Trustee to ESOP, Securitization Trustee, Bond Trusteeship Services, Escrow Services, Safekeeping and other related services.
 

The SME company is looking to raise a total of Rs 32.52 crore via its primary stake sale, including a fresh share sale of Rs 23.23 crore and an offer-for-sale (OFS) of up to 15,48,000 equity shares amounting to Rs 9.29 crore. Beacon Trusteeship IPO raises Rs 9.25 crore from anchor investors.
 

Investors can make a bid for a minimum of 2,000 equity shares and at the upper end of the price band each lot would cost Rs 1.2 lakh to the investors. Retail bidders can apply for a single lot or 2,000 equity shares, only. Other investors need to apply for a minimum of two lots, or at least 4,000 equity shares, amounting to Rs 2.4 lakh.
 

The company provides due diligence, custodial services, compliance monitoring, documentation, disclosure, record retention and more. As of September 30, 2023, the company had 69 employees.
 

Beeline Capital Advisors is the book running lead manager of the Beacon Trusteeship IPO, while Kfin Technologies is the registrar for the issue. The market maker for Beacon Trusteeship IPO is Spread X Securities, having a reservation of 2.72 lakh equity shares.
 

Of the net offer, the company has reserved 50 per cent shares for the qualified institutional bidders (QIBs), while retail investors will have 35 per cent shares reserved for them. Non-institutional investors will get the remaining 15 per cent of the net offer. Shares of the company are likely to be listed at the bourses on Tuesday, June 4.
 

For the year ended on March 31, 2024, the company reported a net profit of Rs 5.16 crore, which stood at Rs 3.85 crore in the year ago period. Similarly, the company topline grew to Rs 20.91 crore in FY24 from Rs 15.92 crore in the year ago period.