Fino Payments Bank IPO GMP : Share, Stock Price, GMP, Review, Details

Fino Payments Bank IPO GMP : Share, Stock Price, GMP, Review, Details

Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus.

It offers such products and services to its target market via a pan-India distribution network and proprietary technologies, and since 2017, it has grown its operational presence to cover over 94% of districts as of March 31, 2021.

It first became profitable in the fourth quarter of financial year 2020 and has been profitable in subsequent quarterly periods. In addition, in the financial years 2019, 2020 and 2021, its platform facilitated approximately 154.02 million, 318.56 million and 434.96 million transactions respectively.

A fresh issue up to [*] equity shares worth up to Rs. 300.00 crores and an offer for sale by FINO PAYTECH LIMITED of up to 15,602,999 equity shares (promo) are included in the bank’s initial public offering of up to [*] equity shares with a face value of Rs. 10 each (equity shares).

UCO Bank Results 2021@ www.ucobank.com : Specialist Officer Merit List, Cut off, Scorecard

The offer is for cash at a price of Rs. [*] per equity share (including a share premium of Rs. [*] per equity share (the offer for sale). Up to [*] equity shares worth up to Rs 3.00 Crores (or up to 5% of the post-offer paid-up equity share capital) are reserved for subscription by eligible employees under the terms of the offer (the employee reservation portion). The portion reserved for employees cannot be more than 5% of the paid-up equity share capital after the offer has been made.

The net offer is the offer minus the employee reservation portion. As a percentage of the bank’s post-offer paid-up equity share capital, the offer and net offer will each be [*] percent. Face value of Rs. 10/- ranges from Rs. 560 to Rs. 577. In other words, the floor price is 56 times the equity shares’ face value.

Price Range : Rs. 560 – 577

Minimum Investment : Rs.14000

Minimum Quantity : 25

Retail Investor can invest upto Rs 2,00,000 in IPO

 Open date : 29 Oct 2021

Close date: 2 Nov 2021