Fino Payments Bank IPO Allotment Status: Fino Payment Bank Initial Public Offering (IPO) was open for subscription from October 29 to November 1 2021. The offer was opened with a price band of ₹560 – 577 per share. Fino is looking to raise ₹1,200 crores through public listing including ₹900 crores through an offer for sale of 1.56 crore shares and ₹300 fresh issues of 52 lakh shares. The price band of the IPO is set at ₹560-577 per share.
The company received good demand from investors, who have oversubscribed the IPO by 2.03 times. The portion reserved for retail investors was oversubscribed by 5.92 times on the last day of the IPO bidding process. However, the demand from non-institutional investors was not that good as the portion reserved for non-institutional investors was subscribed just 0.21 times.
Fino Payments is a growing fintech company offering a wide portfolio of digital financial products and services in India. The company has a pan-India distribution network and its’ major products and services include:
- Current accounts and Savings accounts (CASA)
- Issuance of debit card and related transactions
- Facilitating domestic remittances
- Open banking functionality (through their Application Programming Interface)
- Withdrawing and depositing cash (via micro-ATM or Aadhaar Enabled Payment System (AePS)
- Cash Management Services (CMS).
Fino Payments Bank IPO Allotment Details, GMP, Refund Status
|Name of the IPO||Fino Payments Bank IPO|
|Official Registrar Name||KFin Technologies Private Limited|
|IPO Price Band||Rs.560 to Rs.577 per Equity share|
|Listing at||BSE & NSE|
|Face Value||Rs.10 per equity share|
|Market Lot||25 Shares|
|IPO Allotment Date||9th November 2021|
|Official portal of the company||www.finobank.com|
Fino Payments Bank was founded as Fino Fintech Foundation Limited in the year 2007. It rebranded itself as Fino Fintech Private Limited in 2015 and started operations in June 2017. Rishi Gupta is the managing director and chief executive officer of Fino Payments Bank. Fino Payments Bank offers financial products and services, primarily through the digital route.
How to check Fino Payments Bank IPO Allotment Status
- Visit the below link for BSE official website.
- On BSE, Select ‘Equity’ and then from the dropdown, select ‘Fino Payments Bank’.
- Now, enter your application number and PAN Number.
- Click on the Search button.
- Finally, check the IPO Allotment details.
Website Link – Click Here
- Visit the registrar’s official website.
- Click on the ‘Select Company’ dropdown and click on ‘Fino Payments Bank’.
- Enter either your PAN detail, the application number, or the client ID.
- Enter the captcha and click ’submit’.
- Then, check the details of the allotment available there.
Website Link – Click Here