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
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.
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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