Fino Payments Bank IPO Fino Payments Bank IPO Date, Price, GMP, Review, Allotment, Subscription, Analysis & Documents
- About Fino Payments Bank
- Important Details – Fino Payments Bank
- Objects of the Issue
- Fino Payments Bank Limited Financials:
- Fino Payments Bank IPO Price – Details
- Fino Payments Bank IPO DRHP & RHP
- Fino Payments Bank IPO Lot Size
- Fino Payments Bank IPO Lead Managers
- Fino Payments Bank Registrar
- Fino Payments Bank IPO Allotment Date, Listing Date and other Important Dates
- Company Peers – Comparison of Accounting Ratios
- Company Registered and Corporate Office
- Company Promoters
- Fino Payments Bank IPO – FAQS
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.
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
| Date | Details |
|---|---|
| June 23, 2007 | Incorporated as ‘Fino Fintech Foundation’ at Mumbai, Maharashtra. |
| December 15, 2015 | The name was changed to ‘Fino Fintech Private Limited’ |
| February 3, 2017 | Thereafter, 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, 2015 | The Promoter, Fino PayTech Limited, was granted an in-principle approval to establish a payments bank (“Payments Bank”), by the RBI. |
| March 30, 2017 | Subsequently, 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, 2017 | The 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
| Details | FINO IPO Details |
|---|---|
| Public Issue | Initial 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 Date | 29-Oct-21 |
| Issue Close Date | 02-Nov-21 |
| Issue Type | Book 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 Investor | Rs. 2,00,000 |
| Listing | NSE, BSE |
| NSE Symbol | FINO |
| IPO Market Timings | 10.00 a.m. to 5.00 p.m. |
Fino Payments Bank IPO DRHP & RHP
Fino Payments Bank IPO Lot Size
| Application | Lots | No of Shares | Amount (Rs) |
| Minimum | 1 | 25 | ₹ 14,425 |
| Maximum | 13 | 325 | ₹ 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
| Details | Date |
|---|---|
| Bid / Offer Opens on | 29-Oct-21 |
| Bid / Offer Closes on | 02-Nov-21 |
| Finalisation of Basis of Allotment | 09-Nov-21 |
| Initiation of refunds | 10-Nov-21 |
| Credit of the Equity Shares | 11-Nov-21 |
| Listing Date | 12-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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