Fino Payments Bank Limited IPO – Review and Details

Fino Payments Bank Limited IPO

Fino Payments Bank Limited IPO is all about to start from 29th October 2021. The company started in the year 2017 and is a growing fintech company that offers a wide portfolio of digital financial products and services in India.

Fino Payments Bank Limited IPO

The company’s merchants clear the way for them in empowering their other financial products and services such as third-party gold loans, insurance, bill payments and recharges. Fino Payments also manages a large Business Correspondents network.

The company relies on fees and commissions from its merchant network and strategic commercial relationships. 

Ministry of Electronics & Information Technology ranked Fino payments third among banks in facilitating digital transactions in 2020. The company also has the largest network of micro-ATMs and the third-highest deposit growth rate in FY’ 2021.

Fino Payments Bank Limited – Major products and services

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

Fino Payments Bank Limited – Competitive Strengths

  • Unique DTP (Distribution, Technology, Partnership) network helps in providing a  better customer servicing
  • Focus on technology development and internal skill development
  • Customer-friendly and unconventional business model
  • The highly professional management team
  • The vision of socially in-depth and empowerment

Fino Payments Bank Limited – Financial Statement

Here is the Financial statement of Fino Payment Bank Limited.

Total Assets10,102.916,240.016,840.72
Total Revenue7,910.276,913.973,711.21
Profit After Tax204.74-320.36-623.84

Purpose of Fino Payments Bank Limited IPO

Here is the purpose of Fino Payments Bank Limited IPO.

  • Increasing Bank’s Tier – 1 capital base to meet its future fund’s requirements.
  • To achieve the cost in relation to the offer.

Fino Payments Bank Limited IPO Information

Fino Payments Bank Limited IPO is all about to start from 29th October 2021 and close on 02nd November 2021

Fino Payments Bank Limited IPO – Listing Date & Details

Take a look at the Fino Payments Bank Limited Listing date and details.

IPO Open DateOct 29, 2021
IPO Close DateNov 2, 2021
Listing AtBoth BSE, NSE
Face ValueRs 10 per equity share
Issue TypeBook Built Issue IPO
Issue SizeEq Shares of Rs 10 (aggregating up to Rs 1,200.29 Cr)
Fresh IssueEq Shares of Rs 10 (aggregating up to Rs 300.00 Cr)
Market Lot25 Shares
Min Order Quantity25 Shares

Fino Payments Bank 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 Rs 187,525).

ApplicationLotsSharesAmount (Cut-off)
Minimum125Rs 14,425
Maximum13325Rs 187,525

Fino Payments Bank IPO Allotment Status

Here is the detailed IPO Allotment status

Basis of Allotment DateNov 9, 2021
Initiation of RefundsNov 10, 2021
Credit of Shares to Demat AccountNov 11, 2021
IPO Listing DateNov 12, 2021

Fino Payments Bank IPO Registrar

KFintech Private Limited
Phone: 04067162222, 04079611000

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
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