Fino Payments Bank IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Fino Payments Bank IPO release date, IPO offer price, subscription, Fino Payments Bank Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 560 to Rs 577 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 25 Shares |
| Listing Date | Nov 12, 2021 |
| Offer for Sale | Rs 9002.90 Million |
| Fresh Issue | Rs 3000 Million |
| IPO Size | Rs 12002.90 Million |
| Tick Size | 1 |
Fino Payments Bank IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Fino Payments Bank IPO – Summary
They are a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus.
They offer such products and services to their target market via a pan-India distribution network and proprietary technologies, and since 2017, they have grown their operational presence to cover over 94% of districts as of March 31, 2021.
Also, they first became profitable in the fourth quarter of the financial year 2020 and have been profitable in subsequent quarterly periods. In addition, in the financial years 2019, 2020, and 2021, their platform facilitated approximately 154.02 million, 318.56 million, and 434.96 million transactions, respectively, and had a gross transaction value of ₹456,847.97 million, ₹944,525.76 million, and ₹1,329,306.90 million, respectively.
The Promoter of this company is FINO PAYTECH LIMITED. The lead manager to the issue is Axis Capital Limited, CLSA India Private Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited, and the Registrar to this issue is KFin Technologies Private Limited.
Fino Payments Bank IPO Date
The opening and the closing date of Fino Payments Bank IPO are Oct 29, 2021, and Nov 2, 2021.
Check out Related IPO Links:
| Fino Payments Bank IPO GMP |
| Allotment – Fino Payments Bank IPO |
Fino Payments Bank IPO Subscription
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 29th Oct | 0.00x | 0.05x | 2.73x | 0.25x | 0.51x |
| 2nd Day – 1st Nov | 0.00x | 0.10x | 4.65x | 0.56x | 0.87x |
| 3rd Day – 2nd Nov | 1.65x | 0.21x | 5.92x | 0.93x | 2.03x |
| Shares Offered or Net Issue | 6,225,094 | 3,112,546 | 2,075,031 | 51,993 | 11,464,664 |
The shares subscribed by the public will be updated here.
Check Fino Payments Bank IPO LIVE Subscription
- Fino Payments Bank IPO LIVE Bid details on BSE
- Fino Payments Bank IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Fino Payments Bank IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Fino Payments Bank Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Nov 9, 2021 |
| Refunds Initiation | Nov 10, 2021 |
| Credit of Shares to Demat Account | Nov 11, 2021 |
| Share Listing Date | Nov 12, 2021 |
Fino Payments Bank IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 560 to Rs 577
Fino Payments Bank IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs 560 to Rs 577 per equity share aggregating to Rs.12002.90 Million.
Fino Payments Bank IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.12002.90 Million
Open Free Demat Account Now!
Fino Payments Bank IPO – Live Performance
The listing date of this IPO is Nov 12, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Fino Payments Bank Share Price |
Fino Payments Bank IPO Grey Market Premium
The Fino Payments Bank Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Fino Payments Bank IPO – Company Overview
They operate an asset-light business model that principally relies on fee and commission-based income generated from their merchant network and strategic commercial relationships.
Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of their assisted-digital ecosystem, referred to as their “phygital” delivery model (i.e., a combination of physical and digital).
The merchant’s use of technology and their use of analytics on the data that they capture enhances the merchant’s ability to cross-sell the third-party products that they also offer, to their existing customers, thereby increasing their potential revenue and opportunity to further customize their products and services offering.
Such a merchant-led distribution model requires minimal capital expenditure cost from them because the on-boarding and setup capital expenditure costs are borne by the merchant, and accordingly, allows for operating leverage and efficient expansion in a timely manner.
Through the “phygital” delivery model their merchants onboard customers and facilitate transactions, ensuring their network grows and their products and services are more accessible to a broader range of customers throughout India, giving them what they believe to be is a significant advantage compared to their competitors.
Fino Payments Bank IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 10,102.91 | 6,240.01 | 6,840.72 |
| *Total Revenue | 7910.27 | 6913.97 | 3711.21 |
| Total Expense | 7705.53 | 7234.33 | 4335.05 |
| Profit After Tax | (2985.05) | (3189.79) | (2869.43) |
Earnings per Equity Share (in Million)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 2.62 | (4.11) | (8.00) |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. (2985.05) Million, Rs. (3189.79) Million and Rs. (2869.43) Million respectively.
Fino Payments Bank IPO – Promoters
The Promoter of this company is:
- FINO PAYTECH LIMITED
List of Related Parties (Key Managerial Personnel)
- Rishi Gupta, Managing Director, and CEO
- Mahendra Kumar Chouhan, Part-time Chairman, and Independent Director
- Suresh Kumar Jain, Independent Director
- Punita Kumar Sinha, Independent Director
- Deena Asit Mehta, Independent Director
- Rajat Kumar Jain, Additional Director – Independent
Fino Payments IPO – Promoters Holding
- Pre Issue Share Holding – 100%
- Pos Issue Share Holding – 75%
Fino Payments IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.12002.90 Million |
| Fresh Issue | Up to [●] Equity Shares aggregating up to Rs. 3,000 million |
| Offer for Sale | Up to 15,602,999 Equity Shares aggregating up to Rs. 9002.90 million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.30 Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | X Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Fino Payments Bank IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Their Bank proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting its Tier – 1 capital base to meet its future capital requirements.
- Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Offer.
Fino Payments Bank IPO – Business Strategy
- Leverage their Market Position to Capture Industry Opportunities
- Continued Innovation Leading to High Growth Products and Diversified Revenue Streams
- Expand and Deepen their Customer Sourcing Capabilities
- Continued focus on the use of technology to improve operating leverage
Fino Payments Bank IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Their DTP framework
- A technology-focused business model with an advanced digital platform
- Customer centricity and innovation at the core of business
- Asset light and scalable business model
- Operational experience and expertise
- A socially inclusive model with positive social impact
- Highly experienced and committed leadership team, supported by marquee investor base in their promoter and shareholder
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 4.59 | 14.6 | 33.77 |
| 31-Mar-20 | (7.19) | (21.9) | – |
| Mar-19 | (13.99) | (32.3) | – |
Fino Payments Bank IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Millions) | |
| Fino Payments Bank Limited | 10 | [●] | 4.59 | 14.6 | 7910.27 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Fino Payments Bank IPO Lead Managers
| Lead Managers |
|
Axis Capital Limited CLSA India Private Limited ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited |
Fino Payments IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Private Limited (formerly known as Karvy Fintech Private Limited) Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032, Telangana, India Tel: +91 40 6716 2222 E-mail: finopayments.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact person: M Murali Krishna SEBI registration number: INR000000221 |
Fino Bank IPO – Other Details
- Statutory Auditor – MSKC & Associates, Chartered Accountants
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Fino Payments Bank IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Fino Payments Bank IPO
Fino Payments Bank Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Fino Payments IPO Review FAQs
Ques – What is the Issue Size of Fino Payments IPO?
Answer – The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price band of Fino Bank IPO?
Answer – The price band for this particular IPO ranges between Rs 560 to Rs 577. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Fino Payments IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Oct 29, 2021, while the closing date is set at Nov 2, 2021.
Ques – What is the Fino Bank IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Nov 9, 2021, refund initiation is on Nov 10, 2021, credit of shares is on Nov 11, 2021, and share listing date is on Nov 12, 2021.
Ques – What is the Fino Pay Bank IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges on Nov 12, 2021. The date, when the listing would be done, is stagnant on Nov 12, 2021.
Ques – Who is the Registrar of Fino Payments Bank IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Fino Bank IPO?
Answer – Here are the promoters of this IPO – FINO PAYTECH LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of Fino Payments IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Fino Payments Bank IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Fino Payments Bank Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is (2985.05), 2020 is (3189.79), 2019 is (2869.43).
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics