Fino Payments Bank IPO: This year investors have made strong earnings from the IPO market. More than 30 IPOs have been listed in the market so far this year. Fino Payments Bank has also entered the IPO market. Let us tell you that this IPO was open for subscription from 29 October to 2 November.
The shares of the fintech firm are going to be listed on the Indian stock exchanges today. According to stock market experts, its subscription trend can be repeated with the listing of a public issue of Rs 1,200.29 crore.
What Experts Say Experts are
expecting a flat listing of Fino Payments Bank shares. Ravi Singhal, Vice Chairman, GCL Securities said that the shares of Fino Payments Bank may get listed at the level of Rs 590 to Rs 644 per stock. However, he added that the market sentiment on the date of listing will play a major role on Fino Payments Bank’s share listing.
75 percent of the share will be for qualified institutional buyers,
let us tell you that 75 percent of the IPO has been kept for qualified institutional buyers and 10 percent for retail investors. Rishi Gupta, MD & CEO, Fino Payments Bank said on Tuesday that we do not believe in giving freebies. We are in profit for more than a year.
Know about the
company Talking about the company’s financial performance, in the financial year 2021, the total income was Rs 791.03 crore. Apart from this, the company’s income was Rs 691.40 crore last year. At the same time, the company’s profit during this period was Rs 20.47 crore. No Payment Bank is a fintech company that provides a variety of financial services to its customers.
Who are the Lead Managers The
bank has 54 branches, 130 customer service points and approximately 17,430 banking correspondents. Apart from this, in terms of lead managers, Axis Capital, CLSA, ICICI Securities and Nomura Financial Advisory are the book running lead managers for the IPO.