HomeIPOFino Payments Bank IPO Details

Fino Payments Bank IPO Details

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Fino Payments Bank IPO Fino Payments Bank IPO Date, Price, GMP, Review, Allotment, Subscription, Analysis & Documents

About Fino Payments Bank

Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. Fino Payments Banks offer such products and services to the target market via a pan-India distribution network and proprietary technologies, and since 2017, Bank grew its operational presence to cover over 94% of districts as of March 31, 2021.

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Fino Payments Banks operate an asset-light business model that principally relies on fee and commission-based income generated from the merchant network and strategic commercial relationships. Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of the assisted-digital ecosystem, referred to as the “phygital” delivery model (i.e., a combination of physical and digital).

Strengths

The key strengths are listed and discussed below:

  • The DTP framework;
  • A technology focused business model with an advanced digital platform;
  • Customer centricity and innovation at the core of business;
  • An asset light and scalable business model;
  • Operational experience and expertise;
  • A socially inclusive model with positive social impact; and
  • Highly experienced and committed leadership team, supported by a marquee investor base in our Promoter and shareholder

Important Details – Fino Payments Bank

DateDetails
June 23, 2007Incorporated as ‘Fino Fintech Foundation’ at Mumbai, Maharashtra.
December 15, 2015The name was changed to ‘Fino Fintech Private Limited’
February 3, 2017Thereafter, pursuant to the conversion of the Bank to a public limited company, the name of the Bank was changed to ‘Fino Fintech Limited’
September 7, 2015The Promoter, Fino PayTech Limited, was granted an in-principle approval to establish a payments bank (“Payments Bank”), by the RBI.
March 30, 2017Subsequently, the Bank received the final approval of the RBI to carry on the business as a Payments Bank on . Pursuant to receipt of approval by RBI
April 4, 2017The name of the Bank was changed to ‘Fino Payments Bank Limited’

Objects of the Issue

  • The Bank proposes to utilise the Net Proceeds from the Fresh Issue towards augmenting its Tier – 1 capital base to meet its future capital requirements. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer.
  • Additionally, the Bank expects to receive the benefits of listing the Equity Shares on the Stock Exchanges

Fino Payments Bank Limited Financials:

Summary of financial Information (Restated Consolidated Statement)

Particulars For the year ended (₹ in millions)
  31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 10,102.91 6,240.01 6,840.72
Total income 7,910.27 6,913.97 3,711.21
Total Expenses 7,705.53 7,234.33 4,335.05
Profit After Tax 204.74 (320.36) (623.84)

Fino Payments Bank IPO Price – Details

DetailsFINO IPO Details
Public IssueInitial Public Offer of up to [.] Equity Shares of ₹ 10 (aggregating up to ₹ 300 crores) and Offer for sale upto 15,602,999 Equity shares (aggregating upto [] crores)
Issue Open  Date29-Oct-21
Issue Close Date02-Nov-21
Issue TypeBook Built
IPO Price Band₹ 560 – ₹ 577
Face Value ₹ 10
Market Lot 25 Equity Shares and in multiples thereof
Minimum Order Quantity 25 Equity Shares
Maximum Subscription Amount for Retail InvestorRs. 2,00,000
Listing NSE, BSE
NSE SymbolFINO
IPO Market Timings 10.00 a.m. to 5.00 p.m.

Fino Payments Bank IPO DRHP & RHP

Fino Payments Bank IPO Lot Size

ApplicationLotsNo of SharesAmount (Rs)
Minimum125 ₹ 14,425
Maximum13325 ₹ 1,87,525

Fino Payments Bank IPO Lead Managers

  • Axis Capital Limited
  • CLSA India Private Limited
  • ICICI Securities Limited
  • Nomura Financial Advisory and Securities (India) Private Limited

Fino Payments Bank Registrar

Fino Payments Bank IPO Allotment Date, Listing Date and other Important Dates

DetailsDate
Bid / Offer Opens on29-Oct-21
Bid / Offer Closes on02-Nov-21
Finalisation of Basis of Allotment09-Nov-21
Initiation of refunds 10-Nov-21
Credit of the Equity Shares11-Nov-21
Listing Date12-Nov-21

Company Peers – Comparison of Accounting Ratios

There are no listed companies in India whose business portfolio is comparable with that of the business and comparable to
the scale of operations

Company Registered and Corporate Office

Mindspace Juinagar, Plot No Gen 2/1/F,
Tower 1, 8th Floor, TTC Industrial Area,
MIDC Shirwane, Juinagar,
Navi Mumbai – 400 706;
Website: www.finobank.com

Company Promoters

  • Fino Paytech Limited

Fino Payments Bank IPO – FAQS

What is the Fino Payments Banks IPO Price?

The Fino Payments Banks IPO price band is [] per share

When Fino Payments Banks IPO will open?

The Fino Payments Banks IPO opens on Oct 29, 2021 and closes on Nov 02, 2021

What is the lot size of Fino Payments Banks IPO?

The Fino Payments Banks IPO lot size is [.] Equity Shares and the minimum order quantity is [.] Equity Shares

Who is the Registrar for Fino Payments Banks IPO?

The Registrar for Fino Payments Banks IPO is KFin Technologies Private Limited

How to apply in Fino Payments Banks IPO through UPI?

Check the step by step process here – Click here

How to apply in Fino Payments Banks IPO through Zerodha?

Check the step by step process here – Click here

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