Fino Payments Bank IPO GMP Today, Dates, Share Price, Financials, Review, and more

Check the Fino Payments Bank IPO Grey Market Premium, important Dates, Share Price, Financials, and Review. Get to know whether you should subscribe to this IPO or not.

by FighterMan Updated: 09 Nov, 2021, 07:58 IST
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Fino Payments Bank Limited is a fintech company started in 2017. It provides current accounts, saving accounts, debit cards, domestic remittances, open banking, micro ATM or Aadhar-enabled payments, and cash management services.

It also generates revenue via its merchants through gold loans, insurance, bill payments, recharges, and more. It is promoted by Fino PayTech Limited who holds 100% stake in the company.

Fino Payments Bank IPO

Fino Payments Bank IPO comprises 10% retail quota, 15% HNI quota, and 75% QIB quota. Besides, shares worth 3 crores are reserved for its employees. It has come up with a fresh issue of shares worth Rs 300 crores and offer-for-sale of 1,56,02,999 equity shares.

It clashes with the Nykaa IPO which is going to open for subscription around the same time so it will be interesting to see how investors react to them. Till then, you can check the Latest IPO News for upcoming IPOs in November 2021.

Fino Payments Bank IPO Dates (tentative)

Check the Fino Payments Bank IPO tentative Dates and complete time table below.

Fino Payments Bank IPO Open Date

29th October, Friday

Fino Payments Bank IPO Close Date

2nd November, Tuesday

Refunds

10th November, Wednesday

Fino Payments Bank IPO Allotment Date

9th November, Tuesday

Shares into Demat

11th November, Thursday

Fino Payments Bank IPO Listing Date

12th November, Friday

Fino Payments Bank IPO GMP Today (grey market premium)

The Fino Payments Bank IPO GMP is now out. The Fino Payments Bank IPO grey market premium keeps on changing so keep an eye.

Date & Time GMP (unofficial)
26th October | 12:14 Rs 150
27th October | 16:25 Rs 150
Fino Payments Bank IPO Share Price

The Fino Payments Bank IPO Share Price is Rs 560-577 per equity share. If you are interested then you can Apply to Fino Payments Bank IPO via Zerodha. You can also Subscribe to Fino Bank IPO with 5Paisa.

Fino Payments Bank IPO Lot Size

The Fino Payments Bank IPO Lot Size is 25 shares. Thus, you can apply for a min of 1 lot of 25 shares worth Rs 14,425. You can apply in multiples of 25 thereafter, to a max of 13 lots. 

Fino Payments Bank Company Financials

In 2019, it had 684 crore worth of assets. Then, in 2020, it reduced a bit to 624 crores. However, in 2021 it jumped to 1010 crores. Talking about its revenue, it was 371 crores in 2019, 691 crores in 2020, and 791 crores in 2021. Thus, there is significant growth. Finally, we come to the company’s profits. In 2019, it earned 62 crores while next year it dropped to 32 crores. This year, it further slided down to 20 crores. However, the good news is that it has seen a 6X increase in its merchant-base in the past 3 years.

Fino Payments Bank IPO Review : Good or Bad?

It manages a huge BC (Business Correspondents) network on behalf of other banks. Moreover, the MEIT ranked it 3rd for digital transactions in India last year. Besides, Fino Payments Bank ranks 3rd in deposit growth rate and has the biggest micro-ATM network as per CRISIL.

The company will use the IPO proceeds towards augmentation of its tier-I capital base for future use. Also, it will use it to cover the expenses incurred for IPO works. Thus, the share price might take some time to grow so long-term investors are in a good space here.

It has 6L banking outlets, 50+ branches, and 140+ customer service outlets in India. In addition, it is present in around 94% of the country which is amazing and makes it standout.

On the downside, it has incurred losses in the past 3 years. However, deposits have jumped 106.6% to 2.43 Billion in 2021 which is great. Also, it got around 435M transactions worth Rs 1.33 Trillion.

This small payments bank is backed up by Blackstone, ICICI Group, Bharat Petroleum, IFC, and others. Thus, has a strong support.

Looking at all the above points, it seems like subscribing to the Fino Payments Bank IPO is a good idea for long-term gains. However, we need to wait for the GMP, anchor investors take, price band, and valuation to be pretty sure.

Considering the rise of small finance banks in the fintech space, this IPO seems promising. What are your thoughts on this IPO? Please do share with us in the comments below.

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