FINO Payments Bank was incorporated on June 23, 2007 as‘Fino Fintech Foundation’'. The fintech comany offers a diverse range of financial products and services that are primarily digital and have a payments focus and offers such products and services to the target market via a pan-India distribution network and proprietary technologies
| Bidding Dates |
|---|
| 29 Oct 2021 - 02 Nov 2021 |
| Subscription |
|---|
| 2.03x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,425 | 1 | 13 | 25 | 20.8 M | ₹560 - ₹577 | 75 % | ₹11649.3 M - ₹12002.9 M | RHP DOC |
Fino Payments Bank IPO SUBSCRIPTION STATUS
02 Nov '21Fino Payments Bank IPO overall subscription rate was 2.03 times the total available shares
Fino Payments Bank IPO retail subscription rate was 5.92 times in the retail segment
Fino Payments Bank IPO non-institutional investor subscription rate was 0.21 times in the non-institutional investor category
Fino Payments Bank IPO Qualified Institutional Bidder subscription rate was 1.65 times the available shares for Qualified Institutional Bidder
Fino Payments Bank IPO Employees subscription rate was 0.93 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
02 Nov 2021 (Day 3) | 5.92x | 0.21x | 1.65x | 0.93x |
01 Nov 2021 (Day 2) | 4.65x | 0.1x | 0x | 0.56x |
29 Oct 2021 (Day 1) | 2.73x | 0.05x | 0x | 0.25x |
Fino Payments Bank FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| Q1FY22 | -3,005.0 | 2,062.4 | -640.6 | -867.6 |
| Q1FY21 | -3,171.3 | 1,513.2 | 349.5 | 295.1 |
| FY21 | -2,985.1 | 7,910.3 | -322.2 | -1,011.7 |
| FY20 | -3,189.8 | 6,914.0 | -836.7 | -1,142.2 |
| FY19 | -2,869.4 | 3,711.2 | 286.4 | 150.2 |
Fino Payments Bank IPO SUBSCRIPTION STATUS DETAILS
Fino Payments Bank had 20.8 M shares on offer
Fino Payments Bank IPO offer price was in the range ₹560 - ₹577
Fino Payments Bank IPO minimum Investment was ₹14425
Fino Payments Bank IPO issue size was ₹ 11649.3 M - ₹ 12002.9 M
Fino Payments Bank had a minimum lot size of 25 Shares per application
Fino Payments Bank NUMBER OF SHARES ON OFFER
Fino Payments Bank IPO IMPORTANT DATES
| Issue Open Date | 29 Oct 2021 |
| Issue close Date | 02 Nov 2021 |
| Allotment Date | 09 Nov 2021 |
| Refund Date | 10 Nov 2021 |
| Demat Account Credit Date | 11 Nov 2021 |
| Listing Date | 12 Nov 2021 |
| Listing on Exchange(s) | NSE and BSE |
| Fino Payments Bank Allotment Status | Exchange |
Fino Payments Bank IPO subscription opened on 29 Oct 2021, and closed on 02 Nov 2021
IPO allotment for Fino Payments Bank was finalized on Tuesday, 09 Nov 2021
IPO listing for Fino Payments Bank was on NSE and BSE on Friday, 12 Nov 2021
Fino Payments Bank IPO LISTING GAINS
| Issue Price (adjusted) | 577.0 |
| Listing Open Price | 548.0 |
| Listing Close Price | 545.3 |
| Listing Gain% | -5.0% |
| Current Gain% | -73.1% |
Fino Payments Bank Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fino Payments Bank Ltd. | 155 | 1289.5 | 24.6 | -0.6 | 5.2 | 6.5 | 1 | 1587.9 | -14 | 52.5 | -43.3 | 6.3 | -43.3 |
| Au Small Finance Bank Ltd. | 1067 | 79981.2 | 28 | 0.9 | 4.1 | 13.2 | 1.4 | 21614.3 | 16.3 | 2641.3 | 25.4 | 38.1 | 30.8 |
| CreditAccess Grameen Ltd. | 1523.6 | 24424.8 | 20.2 | 0 | 3.8 | 9.9 | 2.4 | 6062.5 | 5.3 | 777.6 | 46.3 | 75.5 | 524.3 |
| Ujjivan Small Finance Bank Ltd. | 70.1 | 13661.2 | 15.1 | 0.2 | 1.9 | 10.2 | 1.2 | 8039 | 11.6 | 692.6 | -4.6 | 4.6 | 71.5 |
| Equitas Small Finance Bank Ltd. | 75.2 | 8604.7 | 16.9 | 0 | 1.2 | 1.7 | 0.2 | 7867.8 | 8.9 | 103.1 | -29.9 | 4.5 | 598.1 |
| Jana Small Finance Bank Ltd. | 549.4 | 5808 | 15.3 | -1.2 | 1 | 7.3 | 0.7 | 6374.8 | 16.2 | 326.4 | -34.9 | 35.9 | -12.3 |
Fino Payments Bank INFORMATION ON IPO ISSUE
About Fino Payments Bank
FINO Payments Bank was incorporated on June 23, 2007 as‘Fino Fintech Foundation’'. The fintech comany offers a diverse range of financial products and services that are primarily digital and have a payments focus and offers such products and services to the target market via a pan-India distribution network and proprietary technologies
Object of the Issue
1. Augmenting Bank’s Tier – 1 capital base to meet its future capital requirements.
2. To meet the expenses in relation to the offer.
Fino Payments Bank - PROMOTERS
| Name |
|---|
| Fino PayTech Limited |
Fino Payments Bank Book Running Lead Managers
Axis Capital Limited
fpbl.ipo@axiscap.in
CLSA India Private Limited
fino.ipo@clsa.com
ICICI Securities Limited
fino.ipo@icicisecurities.com
Nomura Financial Advisory and Securities (India) Private Limited
finopaymentsbankipo@nomura.com
Fino Payments Bank Registrar to the Offer
KFinTechnologiesPrivateLimited
finopayments.ipo@kfintech.com
Fino Payments Bank Strengths
Unique network
Unique DTP (Distribution, Technology, Partnership) network helps in better customer servicing
technology development
The company has a focus on technology development and in-house technological expertise
Business model
The company has a customer-centric and innovative business model
Fino Payments Bank Risks
Fee and commission based activity
The company undertakes fee and commission-based activity and any failure to obtain such income may adversely affect the business
Dependent on merchants
The company is dependent on merchants and strategic commercial relations for services and product distributions
IPO FAQs
This IPO consists of an offer for sale of up to Rs 900.3 crore, of 15,602,999 shares. It also consists of a fresh issue of Rs 300.0 crore.
The promoter of the company is Fino PayTech Limited .
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 560.0 - 577.0.
The IPO application opens on Oct 29, 2021 and closes on Nov 02, 2021.
The minimum lot size for the IPO is 25. The maximum lot size for the IPO is 325.
For all category investors, the minimum application amount for this IPO is Rs. 14,425.0, the maximum value for this IPO is Rs 187,525.0.
This IPO will be allotted on Nov 09, 2021.
The refund will be credited to your account on Nov 10, 2021.
The allotted shares will be credited to your demat on Nov 11, 2021.
FINO Payments Bank Ltd.’s shares listed on the stock exchanges on Nov 12, 2021.