Fino Payments Bank Ltd. IPO Details with Share Price Range and Issue Size | Motilal Oswal
Fino Payments Bank Ltd. IPO Details with Share Price Range and Issue Size | Motilal Oswal

Fino Payments Bank Limited IPO

 

 

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 IPOs by regularly following our IPO calendar.

Related Articles: Nykaa IPO | Policybazzar IPO | Mobikwik Ltd IPO | Paytm Ltd IPO | OYO IPO

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