Fino Payments Bank IPO, Price, GMP, Date, Review

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Fino Payments Bank

Fino Payments Bank IPO is launching on 29th October 2021 and You can check all the details below article.

When is Fino Payments Bank Limited IPO Launching?

The Fino Payments Bank IPO opens on Oct 29, 2021, and closes on Nov 2, 2021.

Fino Payments Bank Limited IPO Tentative Timetable 

The Fino Payments Bank IPO open date is Oct 29, 2021, and the close date is Nov 2, 2021. The issue may list on Nov 12, 2021.

IPO Open Date Oct 29, 2021
IPO Close Date Nov 2, 2021
Basis of Allotment Date Nov 9, 2021
Initiation of Refunds Nov 10, 2021
Credit of Shares to Demat Account Nov 11, 2021
IPO Listing Date Nov 12, 2021

 

Fino Payments Bank Limited IPO Lot Size 

The Fino Payments Bank IPO market lot size is 25 shares. A retail-individual investor can apply for up to 13 lots (325 shares or ₹187,525).

Application Lots Shares Amount (Cut-off)
Minimum 1 25 ₹14,425
Maximum 13 325 ₹187,525

 

Fino Payments Bank Limited IPO Share Price

The issue is priced at ₹560 to ₹577 per equity share. The minimum order quantity is 25 Shares.

Fino Payments Bank IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding

 

Fino Payments Bank Limited Board Directors:

  • Prof Mahendra Kumar Chouhan – Chairman, Independent Director
  • Dr. Punita Kumar Sinha – Independent Director
  • Suresh Kumar Jain – Independent Director
  • Rajat Kumar Jain – Independent Director
  • Deena Mehta – Independent Director
  • Avijit Saha – Nominee Director
  • P S Ravi – Nominee Director
  • Rishi Gupta – Managing Director and Chief Executive Officer

Fino Payments Bank Limited Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
30-March-21 31-Mar-20 31-Mar-19
Total Assets 10,102.91 6,240.01 6,840.72
Total Revenue 7,910.27 6,913.97 3,711.21
Profit After Tax 204.74 (320.36) (623.84)

About Fino Payments Bank Limited

Incorporated in 2017, Fino Payments is a developing fintech company offering a wide portfolio of digital financial products and services in India. The company has a dish India dispersion network and its significant products and services incorporate:

  • Current accounts and Savings accounts (CASA),
  • Issuance of debit card and related transactions,
  • Facilitating domestic settlements,
  • Open banking functionality (through their Application Programming Interface),
  • Withdrawing and depositing cash (through micro-ATM or Aadhaar Enabled Payment System (AePS) and
  • Cash Management Services (CMS).

The company’s merchants work with them in strategically pitching their other financial products and services like third-party gold loans, insurance, bill payments and recharges. Fino Payments likewise deals with a huge BC (Business Correspondents) network for different banks.

For income age, the company depends on fees and commissions from their merchant network and strategic business connections. The company is hoping to focus on a populace of India which has low degrees of financial proficiency and technology use and normally doesn’t approach even fundamental banking services. In 2020, the Ministry of Electronics and Information Technology positioned Fino payments third among banks in working with digital transactions in India. As per CRISIL, the company additionally has the biggest network of micro-ATMs and the third-most noteworthy store growth rate in FY’ 2021.

Company Contact Information: 

Fino Payments Bank Limited
Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1,
8th Floor, TTC Industrial Area, MIDC Shirwane,
Juinagar, Navi Mumbai – 400 706
Phone: +91 22 7104 7000
Email: basavraj.loni@finobank.com
Website: https://www.finobank.com/

Fino Payments Bank Limited IPO GMP Gray Market Price: 

Date GMP
Kostak Subject to
26 October ₹- ₹- ₹-
25 October ₹- ₹- ₹-
24 October ₹- ₹- ₹-
23 October ₹- ₹- ₹-
22 October ₹- ₹- ₹-
21 October ₹- ₹- ₹-
20 October ₹- ₹- ₹-
19 October ₹- ₹- ₹-
18 October ₹- ₹- ₹-

How to Apply For Fino Payments Bank Limited IPO?

You can apply in Fino Payments Bank IPO web-based utilizing either UPI or ASBA as a payment technique. ASBA IPO application is accessible in the net banking of your bank account. UPI IPO application is presented by brokers who don’t offer banking services. Peruse more insight concerning applying IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank, and SBI Bank.

Final Review of Fino Payments Bank Limited IPO

Fino Payments Bank intends to use the net returns from its new issue for increasing its Tier–I capital base to meet future capital necessities.

Fino Payments Bank offers an assorted scope of financial products and services that are basically digital and have a payments center. Starting around 2017, it has developed a functional presence to cover more than 90% of regions as of September 2021.

The company operates a resource-light business model that mainly depends on the charge and commission-based pay generated from merchant networks and strategic business connections. It has designated Axis Capital, CLSA India, ICICI Securities, and Nomura Financial Advisory and Securities (India) to deal with the issue. KFin Technologies has been designated as the recorder of the issue.

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