The Fino Payments Bank IPO is open for subscription between October 29 and November 2, 2021. The price band has been kept between Rs 560-577 per share with a minimum lot size of 25 shares.
The Fino Payments Bank IPO allotment status will be finalised around November 9 (tentative).
Here’s how you can check the allotment status:
Once the allotment status is finalized, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, scroll down the homepage to see the ‘IPOs’ section.
Step 2: Click on IPOs. On the next page click on the ‘Status’ tab next to the Fino Payments Bank IPO (or any other IPO you had applied for). The status tab will not be visible if you have not applied for the IPO.
Step 3: The next screen will show a detailed review of your application status.
The registrar for this IPO is KFin Technologies Private Limited.
Step 1: Investors are required to follow this link to check their IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx.
Step 2: You will then have to select the ‘Equity’ option and then from the dropdown, select issue name – ‘Fino Payments Bank’.
Step 3: You will have to enter your application number and PAN card number next.
Step 4: After completing all the above-mentioned steps click on the “Search” button.
After applying for an IPO, the amount gets blocked for use from your account. Therefore, the money is still showing in your balance but is blocked for use.
If the Fino Payments Bank IPO is oversubscribed, the shares will be distributed proportionately among investors so that each investor gets a minimum of one lot. This is done on a lottery basis, so there cannot be a guarantee that you will get the shares. It is possible that few investors do not get any shares at all, in case of oversubscription.
If you don’t get the allotment in the Fino Payments Bank IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
Fino Payments Bank IPO shares will get listed on BSE and NSE on November 12, 2021. (tentative)