Fino Payments Bank IPO: The IPO of fast-growing fintech company Fino Payments Bank will open for subscription on October 29. The price band of Rs 560-577 per share has been fixed for this IPO of Rs 1200 crore. Investors will be able to subscribe to this IPO till November 2. Under the issue, about Rs 300 crore equity shares with a face value of Rs 10 will be issued and shares worth about Rs 900 crore will be sold by existing shareholders under OFS (Offer for Sale). Its shares can be listed on November 12.
New IPOs: Opportunity to invest money in seven companies! SEBI approves 28 thousand crore IPO
Lot size of 25 shares
- The company has fixed a lot of 25 shares to subscribe to the IPO. This means that according to the upper price of the price band, investors will have to invest at least Rs 14425. Kefintech Private Limited has been appointed as the Registrar for the issue. Axis Capital, CLSA Capital, ICICI Securities and Nomura Financial Advisory & Securities are the book running lead managers of the issue.
Airtel chose Voda-Idea’s path for spectrum and AGR dues, expansion of 5G network will accelerate
- 75 per cent of the issue is reserved for qualified institutional investors, 15 per cent for non-institutional investors and 10 per cent for retail investors. Maximum 5% of the issue is reserved for eligible employees. The money raised through the IPO will be used to raise the bank’s Tier-1 capital to meet its future capital requirements. The company’s Tier 1 capital ratio was 56.25% in FY21.
Increase in profits of Fino Payments Bank
It is a fintech company that offers a variety of financial products and services. The focus of this company is mainly on digital and payment related services. About 43.49 crore transactions were done through this platform till March 2021. The total value of all these transactions was Rs 1.33 lakh crore. Talking about the financial performance of the company, its total income in FY 2021 was Rs 791.03 crore while in FY 2020 it stood at Rs 691.40 crore. In the last financial year 2021, Fino Payments Bank had a net profit (Profit After Tax) of Rs 20.47 crore while in its last financial year 2019-20, it had a loss of Rs 32.04 crore. The company’s profitability position has improved steadily in the last three financial years. The company’s loss in the financial year 2019 was Rs 62.38 crore.
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.