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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Fino Payments Bank Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹577
Per ShareLot Size
25 Shares
Minimum Investment
₹14,425
Issue Size
₹1,173.77 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Issue Type
Book Building
ISIN
INE02NC01014
Fino Payment Bank Limited is a growing fintech company offering a diverse range of financial products and services that are primarily digital and has a payments focus. It offers such products and services to its target market, being the unserved and underserved population of Indian society through its pan-India merchant network. Its merchant-led model is a capital light business strategy in respect of network expansion and except for referrals of third party loan providers, it does not offer any lending products and it do not hold credit risk for loans. The Company commenced operations with effect from June 2017. its product and service offering includes liability products and other banking products that generate fee and commission-based income, such as CASA, micro-ATMs and AePS transactions, domestic remittances and the issuing of debit cards.
In 2015, the RBI laid down the framework for payments banks with the objective of widening the spread of payment services and deposit products to small businesses, low-income households, migrant labor workers and other unorganized entities by enabling high volume low value transactions. Its target addressable market according to CRISIL as of March 31, 2021 is approximately Rs. 0.85 trillion by potential revenue. Such addressable market refers to the potential revenue pool available to companies providing CASA deposit accounts in rural and semi-urban areas and also providing the entire range of payment and remittances related services across urban, semi-urban and rural areas.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of 2,08,02,305* equity shares of face value of Rs. 10 each ("Equity Shares") of Fino Payments Bank Limited (The "Bank") for cash at a price of Rs. 577 per equity share (including a share premium of Rs. 567 per equity share) aggregating to Rs. 1200.29* crores (The "Offer") comprising a fresh issue of 51,99,306* equity shares aggregating to Rs. 300.00* crores (The "Fresh Issue") and an offer for sale of 15,602,999* equity shares by Fino Paytech Limited ("Promoter Selling Shareholder", and such equity shares the "Offered Shares") aggregating to Rs. 900.29* crores (The "Offer for Sale"). The offer included a reservation of 51,993* equity shares, aggregating to Rs. 3.00* crores (constituting 5% of the post-offer paid-up equity share capital), for subscription by eligible employees (the "Employee Reservation Portion"). The employee reservation portion shall not exceed 5%of th postoffer paid-up equity share capital. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 25.00% and 24.94%, respectively, of the post-offer paid-up equity share capital of the bank. The face value of equity shares is Rs. 10 each. The offer price is Rs. 577 per equity share and is 57.7 times the face value of the equity shares, the anchor investor offer price is Rs. 577 per equity share. *Subject to finalisation of the basis of allotment
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
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*Real-time data subject to exchange updates
Fino Payments Bank Limited was incorporated as `Fino Fintech Foundation' pursuant to a certificate of incorporation dated June 23, 2007, issued by Registrar of Companies, Maharashtra at Mumbai. Pursuant to surrender of its license under section 8 of Companies Act, 2013, its name was changed to `Fino Fintech Private Limited' and a fresh certificate of incorporation dated December 15, 2015 was issued by Registrar of Companies, Maharashtra at Mumbai. Thereafter, pursuant to the conversion of the Bank to a public limited company, the name of the Bank was changed to `Fino Fintech Limited', and a fresh certificate of incorporation dated February 3, 2017 was issued to the Bank by the Registrar of Companies, Maharashtra at Mumbai. Its Promoter, Fino PayTech Limited, was granted an in-principle approval to establish a payments bank ("Payments Bank"), by the RBI, pursuant to its letter dated September 7, 2015. Subsequently, the Bank received the final approval of the RBI to carry on the business as a Payments Bank on March 30, 2017. Pursuant to receipt of approval by RBI, the name of the Bank was changed to `Fino Payments Bank Limited' and a fresh certificate of incorporation dated April 4, 2017 was issued by Registrar of Companies, Maharashtra at Mumbai. The Bank commenced its business operations on June 30, 2017 and was included in the second schedule to the RBI Act pursuant to a notification issued by the RBI dated January 1, 2021 and published in the Gazette of India (Part III - Section 4) dated February 13 - February 19, 2021.
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.