Beacon Trusteeship IPO Listing Day Performance

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 4th June 2024 - 06:45 pm

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Strong listing for Beacon Trusteeship in NSE-SME segment

Beacon Trusteeship had a strong listing on 04th June 2024, listing at ₹90.00 per share, a premium of 50.00% over the issue price of ₹60 per share in the IPO. Here is the pre-open price discovery for the SME IPO of Beacon Trusteeship on the NSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Indicative Equilibrium Price (In ₹) 90.00
Indicative Equilibrium Quantity (Number of Shares) 11,50,000
Final Price (In ₹) 90.00
Final Quantity (Number of Shares) 11,50,000
Previous Close (Final IPO price) ₹60.00
Discovered Listing Price premium / discount to IPO Price (₹) ₹+30.00
Discovered Listing Price premium / discount to IPO Price (%) +50.00%

Data Source: NSE

The Beacon Trusteeship IPO was a book built IPO in the price band of ₹57 to ₹60 per share. Considering the strong subscription response at over 465X and the anchor allocation being done at the upper end of the band, the price discovery of the IPO also happened at the upper end of band at ₹60 per share. On 04th June 2024, the stock of Beacon Trusteeship listed at ₹90 per share, a premium of 50.00% over the IPO price of ₹60.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹94.50 and the lower circuit price has been set at ₹85.50. 

As of 10.05 am, the volumes were 15.98 lakh shares while the turnover (value) was at ₹1,430 lakhs. The opening market cap of the stock stands at ₹164.39 crore. The stock will be traded in the ST segment of the NSE, which is for compulsory delivery only. At 10.05 am, the stock is trading at ₹91.00, which is above the listing price of ₹90 per share. The stock of Beacon Trusteeship has a face value if ₹10 per share and the market lot comprises of 2,000 shares. The stock trades under the NSE symbol (BEACON) and the ISIN code for demat credits will be (INE639X01027).

About the IPO of Beacon Trusteeship

The stock of Beacon Trusteeship has a face value of ₹10 per share and it is a book built issue. The price for the book building issue is set in the price band of ₹57 to ₹60 per share. Being a book built issue, the final price will be discovered within this band. The IPO of Beacon Trusteeship has a fresh issue component and an offer for sale (OFS) component. While the fresh issue portion is EPS dilutive and equity dilutive, the OFS is just a transfer of ownership and  hence is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Beacon Trusteeship will issue a total of 38,72,000 shares (38.72 lakh shares), which at the upper band IPO price of ₹60 per share aggregates to fresh fund raising of ₹23.23 crore. As part of the offer for sale (OFS) portion of the IPO, there will be a sale / offer of total of 15,48,000 shares (15.48 lakh shares), which at the upper band IPO price of ₹60 per share aggregates to OFS size of ₹9.29 crore. Therefore, the overall IPO size (fresh issue + OFS) will comprise of the issue and sale of 54,20,000 shares (54.20 lakh shares) which at the upper band IPO price of ₹60 per share will aggregate to overall IPO size of ₹32.52 crore. 

Like every SME IPO, this issue also has a market making portion with a market maker inventory allocation of 2,72,000 shares. The name of the market maker is yet to be announced for the IPO. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing. The promoter holding in the company currently stands at 67.88%. However, post the fresh issue of shares, promoter equity holding share will get diluted to 46.14%. The fresh issue funds will be used by the company for building the technology infrastructure of the existing business, acquisition of Beacon RTA Services, an commence DP operations, as well as for purchase of new office premises. Beeline Capital Advisors Private Ltd will be the lead manager to the issue, and KFIN Technologies Ltd will be the registrar to the issue. The market maker for the issue is yet to be officially announced by the company. The IPO of Beacon Trusteeship is listed on the SME IPO segment of NSE.
 

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