This Article is From Oct 29, 2021

Fino Payments Bank IPO Opens Today

Fino Payments Bank IPO: Fino Payments Bank's public issue will include a fresh issue of Rs 300 crore and an offer for sale of up to 1,56,02,999 shares by the promoter Fino Paytech

Fino Payments Bank IPO Opens Today

Fino Payments Bank IPO: The issue will close on November 2 and shares will be listed on November 12

Fino Payments Bank's Rs 1,200 crore initial public offer (IPO) opens for subscription today i.e. October 29. The fintech company's primary market offering will include a fresh issue of Rs 300 crore and an offer for sale of up to 1,56,02,999 shares by the promoter Fino Paytech. The public issue will close on November 2 and the shares are likely to be listed on November 12.

Fino Payments Bank has fixed retail quota at 10 per cent, QIB quota at 75 per cent and NII investors quota at 15 per cent. A shares worth Rs 3 crore have been reserved for the employees.

The company will utilise net proceeds from the fresh issuance to augment its Tier - 1 capital base to meet future capital requirements.

Ahead of the IPO, Fino Payments Bank has garnered Rs 538.78 crore from 29 anchor investors, including HSBC, Invesco Trustee, ITPL Invesco, Matthews Asia Small Companies Fund and Fidelity Funds.

Axis Capital, CLSA India, ICICI Securities and Nomura Financial Advisory are the lead managers to the issue.

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