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Trust Fintech IPO allotment finalised today; latest GMP, steps to check status





Trust Fintech IPO share allotment has been finalised today. Investors can check allotment status on Bigshare Services Pvt Ltd webpage. Refund procedure for unsuccessful applicants starts on Wednesday. Trust Fintech IPO listing on Thursday, April 4 on NSE SME.

Trust Fintech IPO allotment date: Trust Fintech IPO share allotment has been finalised today (Tuesday, April 2). On the Bigshare Services Pvt Ltd webpage, the Trust Fintech IPO registrar, investors who applied for the issue may check the Trust Fintech IPO allotment status.

The basis of allotment allows investors to know if and how many shares they have been allocated. In the IPO allotment status, the number of shares allocated is also revealed. For applicants who failed to receive shares, the company will start the refund procedure. The shares of individuals that are allocated will be received in their demat accounts.

The demat account of individuals who received shares will be credited on Wednesday, April 3. Once today’s allotment is finalized, the refund procedure will likewise start on Wednesday.

Trust Fintech IPO listing date is fixed for Thursday, April 4 on NSE SME.

If you have applied for the Trust Fintech IPO, you can do a Trust Fintech IPO allotment status check immediately on the website of the IPO registrar, Bigshare Services Pvt Ltd.


Step 1:

  • Login at direct Bigshare

Step 2

  • Select “Trust Fintech IPO” in company name section.

Step 3

  • Select ‘Application No/CAF No or Beneficiary ID or PAN Number.

Step 4

  • Click at ‘Search’. You can check out your Trust Fintech IPO on your phone or on the  PC.


Trust Fintech IPO GMP today

Trust Fintech IPO GMP or grey market premium is +61. This indicates Trust Fintech share price were trading at a premium of 61 in the grey market, according to Investorgain.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Trust Fintech share price is 162 apiece, which is 60.4% higher than the IPO price of 101.

Today’s IPO GMP indicates higher and anticipates a strong listing based on the activity of the grey market during the past 51 sessions. Investorgain analyses show that the highest GMP is 61 and the lowest is 0.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.


Trust Fintech IPO details

Trust Fintech IPO, which is worth 63.45 crore, is made up of fresh issue of 6,282,000 equity shares, of a face value of 10.

The following goals will be followed by the firm with the net fresh issue proceeds: setting up an extra development facility, installing fit outs, and interior design work in Nagpur, Maharashtra; Investment in acquiring hardware and upgrading IT infra; funding of spending connected to improvement, maintenance and updating current Product; to meet the Global & Domestic Business Development, Sales and Marketing expenditures for the organisation; and general corporate expenses.

The Trust Fintech IPO’s book running lead manager is Corporate Capitalventures Pvt Ltd, and the issue’s registrar is Bigshare Services Pvt Ltd. The market maker for Trust Fintech IPO is Ss Corporate Securities.


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Central banks and the FinTech sector unite to change global payments space





The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

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TD Bank inks multi-year strategic partnership with Google Cloud





TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.


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MAS launches transformative platform to combat money laundering





The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.


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