Fino Payments Bank IPO description – The company offers a diverse range of financial products and services via a pan-India distribution network and proprietary technologies. Since 2017, it has grown its operational presence to cover over 94% of districts as of 31 March 2021. In FY2021, its platform facilitated approximately 434.96 million transactions with a gross transaction value of INR1,329,306.90 million.
Its products and services include various current accounts and savings accounts (CASA), issuance of debit card and related transactions, facilitating domestic remittances, open banking functionality, withdrawing and depositing cash (via micro-ATM or Aadhaar Enabled Payment System “AePS”) and cash management services (CMS). The merchants in the company’s network facilitates in cross-selling other financial products and services such as third-party gold loans, insurance, bill payments and recharges.
Fino operates an asset light business model that principally relies on fee and commission-based income generated from its merchant network and strategic commercial relationships. Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of Fino’s phygital delivery model i.e., a combination of physical and digital. Through its use of analytics on the data captured through the eco-system, the company enhances the merchant’s ability to cross sell the third-party products that it also offers, to its existing customers, thereby increasing Fino’s potential revenue and opportunity to further customize its products and services offering.
Promoters of Fino Payments Bank – Fino Paytech Limited
Fino Payments Bank IPO details
| Subscription Dates | 29 October – 2 November 2021 |
| Price Band | INR560 – 577 per share |
| Fresh issue | INR300 crore |
| Offer For Sale | 15,602,999 shares (INR873.77 – 900.3 crore) |
| Total IPO size | INR1,173.77 – 1,200.3 crore |
| Minimum bid (lot size) | 25 shares (INR14,000 – 14,425) |
| Face Value | INR10 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
Fino Bank’s Financial Performance (in INR crore)
| FY2019 | FY2020 | FY2021 | Q1 FY2022 | |
| Revenue | 371.1 | 691.4 | 791.0 | 206.2 |
| Expenses | 433.5 | 723.4 | 770.6 | 203.1 |
| Net income | (62.4) | (32.0) | 20.5 | 3.1 |
| Margin (%) | (16.8) | (4.6) | 2.6 | 1.5 |
More about Fino Payments Bank Offer
- Fino Payments Bank raises INR538 crore from 29 anchor investors
- Fino Payments Bank IPO RHP
- Fino Payments Bank IPO DRHP
- Fino Payments Bank files draft prospectus for INR1,300 crore IPO
Valuation of Fino Payments Bank (as of FY2021)
Earnings Per Share (EPS): INR2.62
Price/Earnings (PE ratio): 213.74 – 220.23
Return on Net Worth (RONW): 14.6%
Net Asset Value (NAV): INR19.3 per share
Fino Payments Bank IPO GMP Daily Trend
| Date | Fino Payments Bank IPO GMP | Kostak | Subject to Sauda |
| 11 Nov 2021 | – | – | – |
| 10 Nov 2021 | – | – | – |
| 9 Nov 2021 | – | – | – |
| 8 Nov 2021 | – | – | – |
| 3 Nov 2021 | – | – | – |
| 2 Nov 2021 | – | – | – |
| 1 Nov 2021 | – | – | – |
| 30 Oct 2021 | – | – | – |
| 29 Oct 2021 | – | – | – |
| 28 Oct 2021 | – | – | – |
Fino Payments Bank IPO Subscription Details (no. of times)
| Category | Shares Offered | Day 1 | Day 2 | Day 3 |
| QIB | 62,25,094 | 0.00 | 0.00 | 1.65 |
| NII | 31,12,546 | 0.05 | 0.10 | 0.21 |
| Retail | 20,75,031 | 2.73 | 4.65 | 5.92 |
| Employees | 51,993 | 0.25 | 0.56 | 0.93 |
| Total | 1,14,64,664 | 0.51 | 0.87 | 2.03 |
Fino Payments Bank Reviews – Subscribe or Avoid?
Angel One – Neutral
Anand Rathi – Subscribe
Arihant Capital –
Ashika Research –
Asit C Mehta –
BP Wealth – Avoid
Canara Bank Securities – Avoid
Choice Broking – Subscribe with caution
Elite Wealth – Subscribe
GEPL Capital – Subscribe
Hem Securities – Subscribe
ICICIdirect –
IDBI Capital –
KR Choksey – Subscribe
Marwadi Financial Services – Subscribe
Motilal Oswal –
Nirmal Bang – Subscribe
Reliance Securities – Unrated
Religare Broking –
Samco Securities – Avoid
SMC Global – 2/5
Ventura Securities – Subscribe
Registrar of Fino Payments Bank IPO
KFin Technologies Private Limited
Selenium Tower B, Plot 31-32, Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222
Fax: +91 40 2343 1551
Email: [email protected]
Website: www.kfintech.com
Fino Payments Bank Contact Details
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: [email protected]
Website: www.finobank.com
Fino Payments Bank IPO Allotment Status
Fino Payments Bank offer allotment is now available on KFin Technologies’ website. Click on this link to get allotment status.
Fino Payments Bank IPO Timetable
IPO Opening Date: 29 October 2021
IPO Closing Date: 2 November 2021
Finalisation of Basis of Allotment: 9 November 2021
Initiation of refunds: 10 November 2021
Transfer of shares to demat accounts: 11 November 2021
Listing Date: 12 November 2021
Opening Price on NSE: INR544.35 per share (down 5.66% from IPO price)
Closing Price on NSE: INR535.45 per share (down 7.20% from IPO price)
Fino Payments Bank IPO FAQs
How many shares in Fino Bank IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply in Fino Bank IPO?
The best way to apply in Fino Bank IPO is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Fino Bank IPO GMP today?
Fino Bank IPO GMP today is NA.
What is Fino Payments Bank IPO kostak rate today?
Fino Payments Bank IPO kostak rate today is NA.
What is Fino Payments Bank Subject to Sauda rate today?
Fino Bank’s Subject to Sauda rate today is NA.
