Fino Payments Bank Limited
IPO Details
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Fino Payments Bank Limited's successfully completed its Initial Public Offering and commenced trading on Nov 12, 2021 at the NSE, BSE exchange. The company raised 2,08,02,305 Shares through this public offering, comprising 51,99,306 Shares in fresh capital and ₹900.29 Cr through the Offer for Sale mechanism.
The IPO was priced within the band of ₹560 to ₹577, with minimum application lots of 25 shares. The offering attracted significant investor interest during its subscription period from Oct 29, 2021 to Nov 02, 2021.
Share allotment was finalized on Nov 09, 2021, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in 2017, Fino Payments is a growing fintech company in India offering a wide range of digital banking and financial services through a strong pan-India network. Its key offerings include savings and current accounts, debit cards, domestic money transfers, open banking APIs, cash deposits and withdrawals through micro-ATMs and AePS, and cash management services. The company also enables merchants to cross-sell products like gold loans, insurance, bill payments, and recharges, and manages a large business correspondent network for other banks. Fino Payments earns revenue through fees and commissions and focuses on serving people with limited access to traditional banking, and it has been recognized for its role in digital transactions, with strong growth in deposits and one of the largest micro-ATM networks in India.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
- Unique DTP Network: Strong distribution, technology, and partnerships for better customer service.
- Technology Focus: Emphasis on in-house development and technical expertise.
- Customer-Centric Model: Innovative approach focused on customer needs.
- Experienced Management: Led by a highly skilled leadership team.
- Social Vision: Committed to inclusiveness and empowerment.
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