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Fino Payments Bank IPO

Fino Payments Bank Ltd.

₹14,000 /25 sharesMinimum Investment

IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹577.00₹544.00-₹33.00 (5.72%)

IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
29 Oct ‘21 - 2 Nov ‘21₹14,00025₹560 - ₹577
Issue SizeIPO Doc
1200.29Cr
RHP PDF

Subscription Rate As on 02 Nov '21, 5:00 PM

  • Retail Individual Investor
    5.92x
  • Non-Institutional Investor
    0.21x
  • Qualified Institutional Buyers
    1.65x
  • Employees
    0.93x

About Company

Fino Payments Bank Ltd. is a fintech company offering a wide range of digital financial products and services. Launched in 2017, the company offers various savings and current accounts, issues debit cards, facilitates domestic remittances among other services.
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Parent Organisation
Fino Payments Bank Ltd.
Founded
2007
Managing Director
Rishi Gupta

Strengths & Risks

  • A distribution-technology-partnership framework enabling the company to serve its target market efficiently.
  • Technology-focused business model with an advanced digital platform.
  • Merchant-led model is a capital-light business strategy with respect to network expansion.
  • Socially inclusive model and focuses on the underserved and unserved population to bring them into mainstream banking.
  • Dependence on fee and commission-based activities for revenue generation.
  • Any weakness, failure, or disruption in its information technology systems or breach of data that could impact the company’s operations and reputation.
  • Inability to comply with the stringent regulations, laws, and norms as applicable to Payment Banks in India.
  • Limited operating history, making it difficult for prospective investors to assess the company’s potential.
  • Geographical concentration in three states – Bihar, Uttar Pradesh, and Madhya Pradesh.
  • Inability to successfully diversify and introduce new products and services or enter into new lines of business.
  • Risks associated with its cash handling operations.
  • Inability to proactively detect and prevent money laundering and other illegal activities on a timely basis
  • The company has incurred losses in 2019 and 2020 making it difficult to predict profitability in the near future.

Financials

*All values are in Rs. Cr
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