NS Initial Public Offering (IPO) Fino Payments Bank got 2.03x subscription on the last day of membership on Tuesday after a sluggish response in the first two days. NS ₹As per the data available with NSE, the IPO worth Rs 1,200 crore received bids for 2,32,46,150 shares, while there were 1,14,64,664 shares on offer.
There was a fresh issue in the share sale till date. ₹300 crore and offer for sale of 1,56,02,999 equity shares. The price range of the offer, which opened for subscription last week on October 29, was at ₹560-577 per share. Ahead of its IPO, Fino Payments Bank said on Thursday that it has acquired ₹539 crore from anchor investors.
Fino Payments’ share allotment is likely to be finalized on November 9. The shares of the bidders who have received the allotment can be credited to the demat accounts on November 11, 2021. The company is expected to be listed on stock exchanges BSE and NSE next week on November 12.
The share allotment status can be checked online at the website of the Registrar of IPOs, Kefintech Pvt Ltd. Here or on BSE website Here.
Fino Payments Bank or FPBL is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services. The company is a wholly owned subsidiary of Fino Petec, a leader in technology-enabled financial inclusion solutions.
The proceeds from the fresh issue will be used to enhance the Tier-I capital base of the Bank to meet its future capital requirements. Axis Capital, CLSA India, ICICI Securities and Nomura Financial Advisory & Securities were the managers of the offer. Fino Payments Bank has created pan India presence with 724,671 merchants (Own and API) as on 30th June, 2021 which are generally located in Tier-2 and Tier-3 cities.
Don’t miss a story! Stay connected and informed with Mint.
download
Our App Now!!
.