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Fino Payment Bank IPO All you Need to Know



Fino Payments Bank IPO: Fino Payments Bank launched its initial public offering (IPO) on Friday, October 29, 2021, with a price range of Rs 560-577 per share. The promotion will run until Tuesday, November 2, 2021.


Fino Payments Bank hopes plans to raise Rs 1,200 crore through the offering. The IPO consists of a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by Fino Paytech, the company's promoter. The offer also includes a Rs 3 crore share reservation for the company's eligible employees.


Blackstone, ICICI Group, Bharat Petroleum, and International Finance Corporation are among the investors in Fino Paytech (IFC).


Investors interested in subscribing to the Fino Payments Bank initial public offering (IPO) can bid in lots of 25 equity shares and multiples thereafter. They will have to pay Rs 14,425 for a single lot of Fino Payments Bank at the top price band. Both the BSE and the National Stock Exchange will list the shares.


The issue's book running lead managers are Axis Capital, CLSA India, ICICI Securities, and Nomura Financial Advisory and Securities (India), and the issue's registrar is KFin Technologies.


Fino Payments Bank raised over Rs 538.78 crore (Rs 5,38,78,18,857) from 29 anchor investors in lieu of 93,37,641 equity shares at Rs 577 each before going public, according to stock exchange data.


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