Mumbai-based online payment bank company Fino Payment Bank IPO Open Date from 29 October 2021 and closes on 02 November 2021. The company will raise around ₹1200.29 crores through this IPO, which will include a fresh issue of ₹300 crores and an offer for sale of 15,602,999 shares. The company will use the money raised from the IPO for business growth and corporate use. Fino Payments Bank turned profitable in the fourth quarter of the Fiscal Year 2020, making it the first profitable fin-tech to file for an IPO.
Fino Payments Bank is seen as a Competitor to Airtel Payments Bank, Indian Post Payments Bank, Paytm Payments Bank, Jio Payments Bank, and NSDL Payments Bank.
Fino Payment Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. We offer such products and services to our target market via a pan-India distribution network and proprietary technologies, and since 2017, we have grown our operational presence to cover over 94% of districts as of March 31, 2021.
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Fino Payment Bank is currently a wholly-owned subsidiary of Fino Paytech Limited, whose principal shareholders include marquee investors such as ICICI Bank Limited, Intel Capital Corporation, International Finance Corporation, HAV3 Holdings (Mauritius) Limited, Blackstone GPV Capital Partners (Mauritius) VI-B FDI Limited, and Bharat Petroleum Corporation Limited.
Fino Payment Bank IPO Review :
■ Apply for Long Term
Fino Payment Bank IPO Date & Price Band & Details :
|IPO Open :||29 October 2021|
|IPO Close :||02 November 2021|
|IPO Size :||₹1200.29. Cr|
|Face Value :||₹10 Rs. Equity Share|
|Price Band :||₹560-₹577 Per Share|
|Listing On :||BSE, NSE|
|Issue Size :||₹1200.29. Cr|
|Fresh Issue :||₹300. Cr|
|Offer For Sale :||₹900.29 Cr|
Fino Payment Bank IPO Market Lot :
Fino Payment Bank IPO Minimum Market lot is 1 Lot with 25 shares with ₹14,425 Application amount. The retail investors can apply up to 13 lots with 325 Shares or ₹187,525 amounts.
|Minimum Lot Size :||1 Lot|
|Minimum Share :||25 Shares|
|Minimum Amount :||₹14,425|
|Maximum Lot Size :||13 Lot|
|Maximum shares :||325 Shares|
|Maximum Amount :||₹187,525|
Fino Payment Bank IPO Shares Offer :
A total of 20,802,306 shares are to be bid for the public issue by Fino Payment Bank IPO with 51,99,307 for Fresh issue and 15,602,999 for an offer for sale Shares.
|Fresh issue :||51,99,307||₹300 Cr|
|Offer For Sale :||15,602,999||₹900.29 Cr|
|Total :||20,802,306||₹1200.29 Cr|
Fino Payment Bank IPO Reservation :
Fino Payment Bank IPO total Reservation of 20,802,305 shares are to be bid for the public issue by Fino Payment Bank IPO with 15,601,729 for QIB and 31,20,346 for NII 20,80,230 For RII & – Shares EMP.
|QIB :||75%||15,601,729||₹900.22 Cr|
|NII :||15%||31,20,346||₹180.04 Cr|
|RII :||10%||20,80,230||₹120.03 Cr|
|EMP :||– %||–||₹|
|Total :||100%||20,802,305||₹1200.29 Cr|
Fino Payment Bank IPO Dates :
Fino Payment Bank IPO Date is 29 October 2021 and closes on 2 November 2021. The allotment will be finalized on 9 November 2021and the IPO may list on 12 November 2021.
|Open Date :||29 October 2021|
|Close Date :||02 November 2021|
|Allotment Date :||09 November 2021|
|Refund Date :||10 November 2021|
|Share Credit Date :||11 November 2021|
|Listing Date :||12 November 2021|
Fino Payment Bank IPO Form :
There are two ways to apply in Fino Payment Bank IPO. You can apply for Fino Payment Bank IPO through ASBA available in your bank account. You have to go to your online bank login and select Fino Payment Bank IPO in the Invest section and apply through your bank account. Another option is you can apply for Fino Payment Bank IPO through IPO form download through NSE and BSE. See the Fino Payment Bank IPO Form – Download the NSE Form and BSE Form IPO Form, fill it, and submit it to your bank or your broker.
Fino Payment Bank Company Financial Report (Cr) :
About Fino Payment Bank Company
Our Bank 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 our license under section 8 of Companies Act, 2013, our 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 our Bank to a public limited company, the name of our Bank was changed to ‘Fino Fintech Limited’, and a fresh certificate of incorporation dated February 3, 2017, was issued to our Bank by the Registrar of Companies, Maharashtra at Mumbai.
Our Promoter, Fino PayTech Limited, was granted in-principle approval to establish a payments bank (“Payments Bank”), by the RBI, pursuant to its letter dated September 7, 2015. Subsequently, our 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 our Bank was changed to ‘Fino Payments Bank Limited’, and a fresh certificate of incorporation dated April 4, 2017, was issued by the Registrar of Companies, Maharashtra at Mumbai. Our 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.
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We are a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. We offer such products and services to our target market via a pan-India distribution network and proprietary technologies, and since 2017, we have grown our operational presence to cover over 94% of districts as of March 31, 2021. We first became profitable in the fourth quarter of the financial year 2020 and have been profitable in subsequent quarterly periods. In addition, in the financial years 2019, 2020, and 2021.
Our platform facilitated approximately 154.02 million, 318.56 million, and 434.96 million transactions, respectively, and had a gross transaction value of ₹456,847.97 million, ₹944,525.76 million, and ₹1,329,306.90 million, respectively. We operate an asset-light business model that principally relies on fee and commission-based income generated from our merchant network and strategic commercial relationships. Each merchant serves the banking and financial needs of its community, which in turn forms the backbone of our assisted-digital ecosystem, referred to as our “phygital” delivery model (i.e., a combination of physical and digital).
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The merchant’s use of technology and our use of analytics on the data that we capture enhances the merchant’s ability to cross-sell the third-party products that we also offer, to our existing customers, thereby increasing our potential revenue and opportunity to further customize our products and services offering. Such a merchant-led distribution model requires minimal capital expenditure cost from us because the on-boarding and setup capital expenditure costs are borne by the merchant, and accordingly, allows for operating leverage and efficient expansion in a timely manner.
Through the “phygital” delivery model our merchants onboard customers and facilitate transactions, ensuring our network grows and our products and services are more accessible to a broader range of customers throughout India, giving us what we believe to be is a significant advantage compared to our competitors. While innovation remains ever-present, technology and customer trust lies at the core of all that we do and forms the foundation for our entire business model. We have and will continue to strengthen our focus within “emerging India”, catering to a population that we believe presents a large market opportunity and has typically been overlooked by the majority of the large Indian financial institutions.
This section of Indian society is characterized by low levels of financial literacy and technology use, lack of financial inclusion, and typically does not have access to even basic banking services, and is often referred to as the “unserved and underserved” population. Our target addressable market according to CRISIL as of March 31, 2021, is approximately ₹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.
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Our chilling centers are strategically placed in close proximity to our raw milk procurement locations in order to maintain the freshness of the raw milk. Our total average raw milk procurement increased from 1.02 MLPD in Fiscal 2018 to 1.13 MLPD in Fiscal 2020. Our total average raw milk procurement for the nine months period ended December 31, 2020, was 1.02 MLPD. Further, our dependence on third-party suppliers has reduced from 13.58% in Fiscal 2018 to 2.83% of our total average raw milk procurement as of December 31, 2020. As of December 31, 2020, our procurement operations consisted of 6,624 VLCCs, 254 village dairy farms, and third-party suppliers, and 90 chilling centers. The number of our VLCCs has consistently increased from 3,544 to 6,285 from March 31, 2018, to March 31, 2020, respectively.
Our Company Strengths
- A technology-focused business model with an advanced digital platform;
- Customer centricity and innovation at the core of the business;
- An asset-light and scalable business model;
- Operational experience and expertise;
- A socially inclusive model with positive social impact; and
- -Highly experienced and committed leadership team, supported by a marquee investor base in our Promoter and shareholder
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Company Promoters :
■ Rishi Gupta
Fino Payment Bank Board of Directors
|Rishi Gupta||Managing Director and CEO|
|Avijit Saha||Nominee Director|
|Ravi Subbaiah Pagadala||Nominee Director|
|Mahendra Kumar Chouhan||Part-time Chairman and Independent Director|
|Suresh Kumar Jain||Independent Director|
|Punita Kumar Sinha||Independent Director|
|Deena Asit Mehta||Independent Director|
|Rajat Kumar Jain||Additional Director – Independent|
Quick Link :
■ DRHP Draft Prospectus
■ RHP Draft Prospectus
Fino Payment Bank IPO Lead Managers :
■ Axis Capital Limited
■ CLSA India Private Limited
■ ICICI Securities Limited
■ Nomura Financial Advisory and Securities (India) Private Limited
Fino Payment Bank IPO Registrar :
KFin Technologies Private Limited
(formerly known as Karvy Fintech Private Limited)
Selenium, Tower B,
Plot No 31 and 32, Financial District,
Hyderabad, Rangareddi 500 032,
Tel: +91 40 6716 2222 / 1800 345 4001
E-mail: [email protected]
Investor grievance e-mail: [email protected]
Note: Check Fino Payment Bank IPO allotment status Visit IPOBAZAR Allotment Page And Search Your Registrar IPO Allotment Link. Click Here
Company Address :
Fino Payment Bank
Mindspace Juinagar, Plot No Gen 2/1/F,
Tower 1, 8th Floor,
TTC Industrial Area,
MIDC Shirwane, Juinagar,
Navi Mumbai – 400 706
Tel: +91 22 7104 7000
E-mail: [email protected]
Fino Payment Bank IPO FAQs :
What is Fino Payment Bank IPO?
Fino Payment Bank IPO is Mainboard IPO. They are going to raise ₹1200.29 Crores via IPO. The issue is priced at ₹560-₹577 per equity share. The IPO is to be listed on NSE, BSE.
When Fino Payment Bank IPO will open?
The IPO is to open on 29 Oct – 2 Nov 2021 for QIB, NII & RII.
What is Fino Payment Bank IPO Size?
Fino Payment Bank IPO size is ₹1200.29 Crores.
What is the Fresh issue size of Fino Payment Bank IPO?
The Fresh issue size of Fino Payment Bank IPO ₹300 Cr.
What is the Offer For Sale size of Fino Payment Bank IPO?
The Offer For Sale size of Fino Payment Bank IPO ₹900.29 Cr.
What is Fino Payment Bank IPO Price Band?
Fino Payment Bank IPO Price Band is ₹560-₹577 Per share.
What is Fino Payment Bank IPO Minimum and Maximum Lot Size?
The minimum bid is 1 Lot 25 Shares with ₹14,425 amount while the maximum bid is 13 Lot 325 shares with ₹187,525.
What is Fino Payment Bank IPO Investors Portion?
The investors’ portion for QIB is 75%, NII 15%, RII 10%.
What is the Fino Payment Bank IPO Allotment Date?
Fino Payment Bank IPO allotment date is 9 November 2021.
What is Fino Payment Bank IPO Listing Date?
Fino Payment Bank IPO listing date is 12 November 2021. The IPO to list on NSE, BSE.
How to Apply the Fino Payment Bank IPO through Zerodha?
Log in to Console in Zerodha Website. Go to Portfolio and Click on IPO. You will see the IPO Name “Fino Payment Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Fino Payment Bank IPO through Upstox?
Log in to Upstox Website or app. Go to Portfolio and Click on IPO. You will see the IPO Name “Fino Payment Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Fino Payment Bank IPO through Groww?
Log in to Groww Website or app. Now you can see IPOs and Click on IPO. You will see the IPO Name “Fino Payment Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
How to Apply the Fino Payment Bank IPO through Paytm Money?
Log in to the Paytm Money Website or app. Now you can see Invest is IPOs Section and Click on IPO. You will see the IPO Name “Fino Payment Bank IPO”. Click on Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate.
|Fino Payment Bank IPO GMP: Click Here|
Fino Payment Bank IPO Subscription: Click Here
Fino Payment Bank IPO Allotment: Click Here
Fino Payment Bank IPO Listing: Click Here
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