Fino Payments Bank has unfortunately not capitalised on the bull run markets, as non-institutional buyers stayed away from the sale. Fino Payments Bank launched its IPO on 28 October 2021 and 2 November 2021 was subscribed 2.03 times. Its shares also had a lukewarm response on the bourse. Fino Bank’s stock was listed at a 5% discount to the issue price on 12 November.
On BSE, this company’s shares opened at Rs. 548 and on the NSE it opened at Rs. 544.23. Here are the highlights of the story.
This bank offers primarily digital services. Moreover, it offers a multifaceted plethora of financial products and services which are payments focused.
This bank operates an asset-light business model. It relies heavily on commission and fee-based income. This income has been generated from merchant networks and some commercial relationships.
Here are some details regarding the number of transactions the online platform has facilitated.
Moreover, the bank had posted a CAGR of 46% and reported profits of around Rs 20 crores in the Financial Year 2021.
Experts were not favourable to the bank’s IPO as they believe the investors do not have much gain to make from the outset.
However, some believed that investment in the profit-making entity was justified.
Ans. Founders incorporated Fino Payments Bank on 4th April 2017.
Ans. Fino Payments Bank is a type of Digital Banking.
Ans. The chairman of Fino Payment Bank is Mahendra Kumar Chohan.
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