In the age of online payments and contactless cards, cash has taken a backseat. At the same time, online payment banks have been flourishing and how. One such example is Fino Payments bank, which is launching its IPO on the 29th of October, 2021. 

 

• Fino Payments Bank Limited IPO: IPO Details

 

Opening Date	October 29, 2021
Closing Date	November 02, 2021
Face Value	Rs.10 per equity share
Listing At	BSE, NSE
Fresh Issue	Eq Shares of ₹10 (aggregating up to ₹300.00 Cr)
Offer for Sale	15,602,999 Eq Shares of ₹10

 

• About The Company

Fino Payments Bank is a blooming fintech firm that offers a wide range of digital financial services and products in India. Their major offerings include:

- Current accounts and Savings accounts (CASA)

- Domestic remittance facilitation 

- Issuance of debit cards

- Open banking functionality

- Cash deposit and withdrawal (via micro-ATM or Aadhaar Enabled Payment System (AePS) 

- Cash Management Services (CMS)

- The promoter of this company is Fino PayTech Limited. 

• Competitive Strengths of Fino Payments Bank

- Focus on technological development 

- Unique DTP (Distribution, Technology, Partnership) network 

- In-house technological expertise

- Highly experienced management team

- Innovative, customer-centric business model

- Vision of socially inclusiveness

• Fino Payments Bank IPO: IPO Date

The Fino Payments Bank IPO opens on the 29th of October, 2021, and closes on the 2nd November, 2021. 

• Fino Payments Bank Ltd IPO: IPO Issue Size

The issue size of the Fino Payments Bank IPO hasn’t been made clear yet. However, they will issue equity shares of ₹10 each, aggregating up to ₹300.00 Crores. The sale offer consists of 15,602,999 Eq Shares of ₹10 each. 

• Fino Payments Bank Ltd IPO: IPO Share Price

The price band of this latest IPO hasn’t been made clear yet, so please watch this space for more details on the same.

• Fino Payments Bank IPO: Important Dates (Tentative)

Here are the important (tentative) dates to keep in mind for investing in the Fino Payments Bank IPO. 

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 IPO: Objectives

The objectives that Fino Payments Bank plans to achieve with this IPO are as follows:

- To meet offer-related expenses

- To augment the bank’s Tier-I capital base for meeting future capital requirements.

Wrapping Up

Looking forward to investing in this latest IPO? Make sure your demat account and all other requirements are in place. New to investing? Worry not. You can open an online trading and demat account right away. Just visit the official Motilal Oswal website and open an online demat account for free. 

If you already have an existing account, you can  start your online trading and invest in the upcoming IPO's.

With a plethora of companies coming forward with their own IPOs in quick succession, you can keep a track of all the upcoming IPO 2023 by regularly following our IPO calendar.

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