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Fino Payments Bank Limited IPO (Fino Payments Bank IPO) Detail

Oct 29, 2021 - Nov 2, 2021

Incorporated in 2017, 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 includes:
• 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) and
• Cash Management Services (CMS).


The company's merchants facilitate them in cross-selling their other financial products and services such as third-party gold loans, insurance, bill payments and recharges. Fino Payments also manages a large BC (Business Correspondents) network on behalf of other banks.


For revenue generation, the company relies on fees and commissions from their merchant network and strategic commercial relationships. The company is looking to target a population of India which has low levels of financial literacy and technology use and typically does not have access to even basic banking services. In 2020, the Ministry of Electronics & Information Technology ranked Fino payments third among banks in facilitating digital transactions in India. According to CRISIL, the company also has the largest network of micro-ATMs and the third-highest deposit growth rate in FY' 2021.

Competitive Strengths:

  • Unique DTP (Distribution, Technology, Partnership) network helps in better customer servicing
  • Focus on technology development and in-house technological expertise
  • Customer centric and innovative business model
  • Highly experienced management team
  • Vision of socially inclusiveness and empowerment

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
30-March-21 31-Mar-20 31-Mar-19
Total Assets 10,102.91 6,240.01 6,840.72
Total Revenue 7,910.27 6,913.97 3,711.21
Profit After Tax 204.74 (320.36) (623.84)

Objects of the Issue:

  • Augmenting Bank’s Tier – 1 capital base to meet its future capital requirements.
  • To meet the expenses in relation to the offer.

Fino Payments Bank IPO Details

Fino Payments Bank IPO Date Oct 29, 2021 to Nov 2, 2021
Fino Payments Bank IPO Face Value ₹10 per share
Fino Payments Bank IPO Price ₹560 to ₹577 per share
Fino Payments Bank IPO Lot Size 25 Shares
Issue Size[.] shares of ₹10
(aggregating up to ₹1,200.29 Cr)
Fresh Issue[.] shares of ₹10
(aggregating up to ₹300.00 Cr)
Offer for Sale15,602,999 shares of ₹10
(aggregating up to ₹900.29 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

Fino PayTech Limited is the company promoters.

Fino Payments Bank IPO Timeline (Tentative Timetable)

Fino Payments Bank IPO opens on Oct 29, 2021, and closes on Nov 2, 2021. The Fino Payments Bank IPO bid date is from Oct 29, 2021 10.00 A.M. to Nov 2, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Fino Payments Bank IPO Opening Date Oct 29, 2021
Fino Payments Bank IPO Closing Date Nov 2, 2021
Basis of Allotment Nov 9, 2021
Initiation of Refunds Nov 10, 2021
Credit of Shares to Demat Nov 11, 2021
Fino Payments Bank IPO Listing Date Nov 12, 2021

Fino Payments Bank IPO Lot Size

The Fino Payments Bank IPO lot size is 25 shares. A retail-individual investor can apply for up to 13 lots (325 shares or ₹187,525).

Application Lots Shares Amount
Minimum 1 25 ₹14,425
Maximum 13 325 ₹187,525

Fino Payments Bank IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 75%

Fino Payments Bank IPO Review

The company is a novel technology company in the financial sector. It has established its play and enjoys a niche place. Perhaps due to such status, it is trying its maiden float with fancy pricing which is exorbitant on all counts. Though it has turned the corner for the last three quarters, its carried forward losses remain a major concern. For the last three fiscals, it has posted an average negative earnings and hence it has a negative P/E. Considering all these, risk seeker/cash surplus investors may consider investment for the long term. Read detail review...

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Fino Payments Bank IPO Subscription Status (Bidding Detail)

The Fino Payments Bank IPO is subscribed 2.03 times on Nov 2, 2021 5:00:00 PM. The public issue subscribed 5.92 times in the retail category, 1.65 times in the QIB category, and 0.21 times in the NII category. Check Day by Day Subscription Details (Live Status)

Application Wise IPO Subscription (Retail): 4.76 times

CategorySubscription (times)
QIB1.65
NII0.21
Retail5.92
Employee0.93
Total2.03

Fino Payments Bank IPO Prospectus

Fino Payments Bank IPO Rating

774
3.6
Rating:Rated 3.6 stars
Vote Here ...

Fino Payments Bank IPO Listing Date

Listing Date Friday, November 12, 2021
BSE Script Code 543386
NSE Symbol FINOPB
Listing In B Group of Securities
ISIN INE02NC01014
IPO Price ₹577 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹577.00
₹548.00
₹510.80
₹583.35
₹545.25
NSE
₹577.00
₹544.35
₹511.05
₹582.95
₹543.90

Company Contact Information

Fino Payments Bank Limited
Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1,
8th Floor, TTC Industrial Area, MIDC Shirwane,
Juinagar, Navi Mumbai – 400 706
Phone: +91 22 7104 7000
Email: basavraj.loni@finobank.com
Website: https://www.finobank.com/

Fino Payments Bank IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: finopayments.ipo@kfintech.com
Website: https://karisma.kfintech.com/

Fino Payments Bank IPO FAQs

Fino Payments Bank IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹1,200.29 Crores. The issue is priced at ₹560 to ₹577 per share. The minimum order quantity is 25 Shares.

The IPO opens on Oct 29, 2021, and closes on Nov 2, 2021.

KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Fino Payments Bank IPO using UPI as a payment gateway. Zerodha customers can apply in Fino Payments Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Fino Payments Bank IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Fino Payments Bank IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Fino Payments Bank IPO opens on Oct 29, 2021 and closes on Nov 2, 2021.

Fino Payments Bank IPO lot size is 25 Shares and the minimum order quantity is .

You can apply in Fino Payments Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Fino Payments Bank IPO will be done on Nov 9, 2021, and the allotted shares will be credited to your demat account by Nov 11, 2021. Check the Fino Payments Bank IPO allotment status.

The Fino Payments Bank IPO listing date is on Friday, November 12, 2021.
Open an Instant Account with Zerodha

Fino Payments Bank IPO Message Board

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387 Comments

153. B.K. Singhania |   Link |Dec 10, 2021 11:33:10 AM
paytm is better than this
152. bAAz |   Link |Dec 8, 2021 8:32:47 PM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Anchor lock in period over
151. Dr.Bhavy |   Link |Nov 22, 2021 10:46:48 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Societe general sold 4,62,468 shares today at 401
150. IPO Mitr |   Link |Nov 14, 2021 10:48:55 PM
Q2 results are quite positive but not much movement is expected tomorrow as three IPOs are getting listed so significant market focus and money will towards new listing.

People still holding Fino should sit tight and continue to hold.
149. Monster Zero |   Link |Nov 14, 2021 5:55:54 PM
IPO Guru IPO Guru (1400+ Posts, 700+ Likes)
Q2 2021 results are here...
EPS double
Profit nearly double..both Q-on-Q and yearly basis.
Slight increase in debt...
But over all good news... Monday will be up and then downward journey from there... expect 5% uplift tomorrow.
148. ipobull |   Link |Nov 13, 2021 10:34:25 PM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
Fino Payments is bound to go down further. Do not put money in it. Does not deserve price more than 350-400.
147. harit |   Link |Nov 12, 2021 10:00:23 AM
1st hour trading remind me of indostar capital
147.2. harit |   Link |Nov 12, 2021 11:08:32 AM
Same here
Sold indostar 2 lots
1-@284 last year
1-@351 recently before qip
Lost more than 10k
147.3. IPO Mitr |   Link |Nov 13, 2021 10:27:27 PM
Not very IPO is worth investing and safe.

It will be very difficult for all of us to control our greed during these euphoric time when people are selling their homes (figuratively) to invest in IPO.

Each one of us learn differently and with different speed, when and when not to take risk. Some time it helps to think ......why we should be buying in IPO and not after listing.
146. Itscrazy |   Link |Nov 12, 2021 7:11:44 PM
Not able to find out Fino Payment Bank Limited stock in Angle Broking..pls tell me by what name it is listed in Angle Broking.. and what I have to type in search option to find out this stock
146.1. Cautious ipo |   Link |Nov 13, 2021 6:34:34 PM
IPO Guru IPO Guru (1500+ Posts, 900+ Likes)
Now added today ...worst
145. Arjun Rajkot |   Link |Nov 12, 2021 7:45:58 PM
Top Contributor Top Contributor (400+ Posts, 800+ Likes)
Fino Bad Lisitng

I warned.
144. Cautious ipo |   Link |Nov 12, 2021 4:51:52 PM
IPO Guru IPO Guru (1500+ Posts, 900+ Likes)
PayTM debacle prepration ???
143. mDelhi |   Link |Nov 10, 2021 1:39:06 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
No allotment for me , again :(
Listing will confirm, no allotment is good or bad
143.1. OMi |   Link |Nov 12, 2021 3:02:41 PM
lucky stars.. lol
142. P Patel |   Link |Nov 2, 2021 6:00:23 PM
IPO Mentor IPO Mentor (800+ Posts, 900+ Likes)
Employees are not confident of their own company. Whereas Retail investors show full confidence compare to QIB and NII shows total back.
142.1. P Patel |   Link |Nov 12, 2021 2:35:28 PM
IPO Mentor IPO Mentor (800+ Posts, 900+ Likes)
Employees know its highly priced compare to its business and valuation....
141. JERRY COREA |   Link |Nov 10, 2021 5:37:07 PM
I was not allotted any shares. May I know the reason ?
141.1. INDIAWAY |   Link |Nov 11, 2021 5:01:00 AM
IPO Mentor IPO Mentor (600+ Posts, 1900+ Likes)
Simply Luck only
.
It is lottery
141.2. Swapnilraje |   Link |Nov 12, 2021 1:17:41 PM
Ur lucky now
140. Manup |   Link |Nov 12, 2021 10:12:01 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
So called analysts absconded 😊😊
140.1. Chalak lomdi |   Link |Nov 12, 2021 10:19:51 AM
analyst loot gaya re gotia...
140.2. Manup |   Link |Nov 12, 2021 10:32:54 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
☺️☺️
139. ipobull |   Link |Nov 12, 2021 10:15:38 AM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
This stock is bound to go below 500.
138. ipobull |   Link |Nov 12, 2021 10:11:29 AM
IPO Mentor IPO Mentor (700+ Posts, 700+ Likes)
The stock is trading at a huge discount which was very clear based on tepid response from QIBs. It cannot succeed much in its business which has so many competitors.
137. All Time High |   Link |Nov 12, 2021 10:07:59 AM
Top Contributor Top Contributor (200+ Posts)
Now 520 (-57)
136. Kishore S |   Link |Nov 12, 2021 9:15:20 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
It''s available at 1-2% discount. Grab it to get atleast 5% returns. Not at all a bad company.
136.1. DownriteVJ |   Link |Nov 12, 2021 9:53:58 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
ok, but let it get to its bottom. 514 now.
136.2. DownriteVJ |   Link |Nov 12, 2021 10:03:58 AM
IPO Guru IPO Guru (1300+ Posts, 1200+ Likes)
Bought some at 519
135. Rafiq |   Link |Nov 12, 2021 9:11:13 AM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
It has touched it''s Issue price . Long way to move ahead
134. PADALISHWAR |   Link |Nov 12, 2021 9:09:06 AM
Pl see FINO PB is trading now at 570.

Pl wait.

Closing price above 600

Reason : Issue is small. Business model is innovative.