Fino Payments Bank Limited, one of the growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus,listed on the NSE at Rs. 544.35, at 5.66% discount over its issue price. The scrip got listed at BSE at Rs. 548 per share, a 5.03% per cent discount over its issue price of Rs 577. The shares of the company at day end closed at Rs. 545.25 per share on BSE and at Rs 543.90 per share on NSE. The initial public offering was offered at a lower price band of Rs 560 per share and higher price band of Rs 577 per equity share.
As per BSE, the total quantity traded stood at 6.24 lakh shares with a delivery quantity percentage of 14.74, whereas the total quantity traded at NSE stood at 92.68 lakh shares with a delivery quantity percentage of 38.48. Total Turnover (BSE+NSE) on Day 1 stood at Rs 582.10 crore.
Mr. Rishi Gupta, MD & CEO – Fino Payments Bank Limited said “Sincere gratitude to all stakeholders and investors who have bestowed their faith in us. This is beginning of journey for us and we are committed to long term shareholder value accretion in long run through consistent performance growth and digital innovation.”
The Market Capitalization of the Company post today’s closing price stood at Rs. 4,537.26 crore as per BSE and Rs. 4,455.71 crore as per NSE.
The Initial Public Offering of the company was Rs. 1200 cr and the issue was closed on 2nd November 2021. The portion reserved for retail investors was subscribed 5.92 times. While the Qualified Institutional Buyer category was subscribed 1.65 times, the Non-Institutional Investor category was subscribed 0.21 times. Overall the issue was subscribed 2.03 times.
Axis Capital Limited, CLSA India Private Limited, ICICI Securities Limited, and Nomura Financial Advisory and Securities (India) Private Limited arethe book running lead manager to the Offer (“BRLM”)
Fino Payments Bank is a fully owned subsidiary of FinoPaytech which had last raised funds in 2016. FinoPaytech is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others. Frugal innovation is the key that has given fintech a leadership position at the middle of the pyramid that primarily constitutes emerging India customers. It enjoyed a 55% market share in micro-ATMs in FY21.