Fino Payments Bank Limited IPO (Fino Payments Bank IPO)

Fino Payments Bank IPO 2021
Upcoming Fino Payments Bank IPO | New Fino Payments Bank IPO

Launched in 2017, Fino Payments is a growing fintech company that offers a comprehensive portfolio of digital financial products and services in India. The company has a pan-India distribution network and ‘its major products and services include:
• 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).

The company’s brokers help them sell their financial products and services such as third-party gold loan, insurance, debt repayment and cashback. Fino Payments also manages a large BC (Business Correspondents) network on behalf of other banks.

In revenue generation, the company relies on funds and commissions from their merchant network and trading strategy relationships. The company aims to target Indians who have low levels of spending and technology and often do not have access to even basic banking services. By 2020, the Department of Technology and Information Technology places Fino payments in third place in banks to facilitate digital transactions in India. According to CRISIL, the company also has the largest network of micro-ATMs and the third highest deposit growth rate at FY ‘2021.

Fino Payments Bank IPO

Competitive Strengths

  • A technology-focused business model with an advanced digital platform;
  • Customer centricity and innovation at the core of the 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

Company Promoters

  • Fino PayTech Limited

Company Financials

ParticularsFor the year/period ended ( in Cr.)
31-Mar-2131-Mar-2031-Mar-19
Total Assets1,010.29624.00684.07
Total Revenue791.03691.40371.12
Profit After Tax20.47(32.04)(62.38)

Objects Of The Issue

  • Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
  • To meet common corporate objectives.
Fino Payments Bank IPO
Object Of The Issue

Fino Payments Bank IPO – Details

IPO Opening Date29 October 2021
IPO Closing Date02 November 2021
Issue TypeBook Built Issue IPO
Issue SizeRs 1200.29 Crore
Face Value₹10 per equity share
IPO Price[560] To [577] Per Equity Share
Market Lot25 Shares
Min Order Quantity25 Shares
Listing AtBSE, NSE
RegisterKFintech Private Limited

Fino Payments Bank IPO – Date Schedule

IPO Open Date29 October 2021
IPO Close Date02 November 2021
Basis of Allotment Date09 November 2021
Initiation of Refunds10 November 2021
Credit of Shares to Demat Account11 November 2021
IPO Listing Date12 November 2021

Fino Payments Bank IPO – Lots Size & Price

ApplicationLotsSharesAmount ( Cut-Off)
Minimum12514,425
Maximum143251,87,525

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
Websitehttps://www.finobank.com/

Fino Payments Bank IPO Registrar

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: finopayments.ipo@kfintech.com
Websitehttps://karisma.kfintech.com/

Fino Payments Bank IPO Lead Manager(s)

1. Axis Capital Limited
2. CLSA India Private Limited
3. ICICI Securities Limited
4. Nomura Financial Advisory and Securities (India) Private Limited

Fino Payments Bank IPO FAQs

When Fino Payments Bank IPO will open?

The Fino Payments Bank IPO dates are 29 October 2021 To 02 November 2021.
What is the lot size of Fino Payments Bank IPO?

Fino Payments Bank IPO lot size and the minimum order quantity is [25 Shares].
How to apply for Fino Payments Bank IPO?

You can apply in Fino Payments Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services.
When is Fino Payments Bank IPO listing date?

The Fino Payments Bank IPO listing date is announced. The date of Fino Payments Bank IPO listing is [12 November 2021].

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