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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of Fino Payments Bank Limited will open for subscription on October29, 2021 and closes on November 02, 2021. It is expected to list on the stock exchanges on November 12, 2021. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analysis the IPO.
Incorporated in 2017, the Company is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. It has a strong leadership position within the Indian fintech industry. It was ranked 3rd among banks in facilitating digital transactions (as of February 2020); and had the largest network of micro-ATMs (as of August, 2021). It is also the only payments bank to offer a subscription based savings account in India.
Its products and services include various current accounts and savings accounts (CASA), issuance of debit card and related transactions, facilitating domestic remittances, open banking functionality (via its API), withdrawing and depositing cash (via micro-ATM or Aadhaar Enabled Payment System “AePS”) and cash management services. It also manages a large Business Correspondent network on behalf of other banks. The Company offers these products and services to its target market via a pan-India distribution network and proprietary technologies. It has operational presence to cover over 90% of districts (as of September 30, 2021).
The Company operates an asset light business model that principally relies on fee and commission based income generated from its merchant network and strategic commercial relationships. Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of the Company’s assisted-digital ecosystem, which the Company calls “phygital” delivery model (i.e., a combination of physical and digital).
Fino Paytech Limited
There are no listed peers in India
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale
|IPO Size||₹ 1200.29 Crore*|
|Offer Mix||Fresh Issue ₹ 300 Crore + Offer For Sale ₹ 900.29 Crore|
|Price Band||₹ 560 - ₹ 577|
|Lot Size||25 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,425 (1 lot) | Max. ₹ 1,87,525 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||KFin Technologies Private Limited|
|Cut-off time for UPI Mandate Confirmation||03-Nov-2021 (up to 12:00 PM)|
₹ 897.97 Crore
(75% of Net Issue Size)
₹ 179.59 Crore
(15% of Net Issue Size)
₹ 119.73 Crore
(10% of Net Issue Size)
|Employee Reservation Portion||₹ 3 Crore|
|IPO Opens||October 29, 2021|
|IPO Closes||November 2, 2021|
|Finalization of the basis of allotment||November 9, 2021|
|Unblocking of funds / Initiation of refunds||November 10, 2021|
|Credit of equity shares to Demat accounts||November 11, 2021|
|Listing of equity shares||November 12, 2021|
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