Fino Payments Bank IPO Reviews, Dates, Price Band, Market Lot & Financial Details 2021

Fino Payments Bank IPO will hit the market soon, and you can apply for the IPO from 28th October to 1st November 2021. Fino Payments Bank is planning to raise ₹1,200.29 Crores through an IPO which consists of a fresh issue of ₹300 Crores worth equity and OFS (Offer For Sale) of ₹900.29 Crores by existing shareholders. 

Fino Payments Bank is a leading fintech company incorporated in 2017. They have a wide portfolio of digital financial services and products across India. Consumers in India have access to 6 lakh+ banking outlets, 50+ branches, and 140 service outlets to open current and savings accounts, and avail services like loans, pay, and insurance. Many IPOs are going to launch this year check here the list.

Major product and services offered by Fino Payments Banks – 

  • Current and Savings account opening
  • Cash Management Services. 
  • Debit card issuance and related transactions.
  • Withdrawing cash through micro atms or Aadhaar Enabled payment system. 
  • Availing Insurances and Loan. 

Fino Payments Bank IPO Dates & Price Band:

Open date29th October 2021
Close date2nd November 2021
Total Size of IPO₹1,200.29 Cr.
Fresh Issue 300 Cr.
Offer for Sale₹900.29 Cr
Price Band₹560- ₹577
Face Value₹10 per share
Listing onNSE and BSE
Retail Investor’s Portion10%

Fino Payments Bank IPO Market Lot:

The minimum market lot of Fino Payments Bank IPO is 25 shares with 14,425 applications. Retail investors can apply for 13 lots with 325 shares application worth187,525.

ApplicationLotSharesCut Off Amount
Minimum (RII)12514,425
Maximum (NII)13325187,525

Objectives of Offer- 

  • Funding operational expenses of the company.
  • To meet general corporate purposes.

Should you subscribe to Fino Payments Bank IPO?

We have researched and mentioned the strengths and risks of the Fino Payments Bank IPO. The final verdict will help you make the right decision.

Strength – 

  • Unique DTP(Distribution, Technology, Partnership) operation helps to provide a smooth experience to customers.
  • Using DTP, Fino Payments Bank is able to target the correct market.  
  • The majority of the revenue comes from fees charged for these products or services. 
  • Customer centric business model.

Risks – 

  • Paytm is their biggest competitor. 
  • In 2021, Fino Payments bank achieved profitability for the first time. Before that they were continuously in losses.

Honest Reviews – 

Through its unique DTP model, the company plans to make a good customer acquisition in the years to come. Fino Payments Bank became the first digital bank listed on NSE and BSE. Paytm is the biggest competitor for them. Fino Payments bank achieved profitability for the first time in 2021 and we will need to see if they are able to maintain this level of profitability in coming years. 

Investors can invest for the listing gains in the Fino Payments bank IPO. It’s early to predict but  Fino Payments bank IPO can give great listing gains by seeing its grey market premium. You can keep a track of  Fino Payments bank IPO GMP here.

Fino Payments Bank IPO Allotment & Listing Dates:

Fino Payments Bank IPO’s open date is 29th October and the closing date is 2nd November. Allotment of shares will be done on 9th November and the listing date on NSE & BSE is 12th November 2021.

Allotment Date for Fino Payments Bank – 9th November 2021
Refund Date for Fino Payments Bank – 10th November 2021
Credit of Shares to Demat Account – 11th November 2021
Listing Date for Fino Payments Bank – 12th November 2021

Applying IPO through the form: 

Besides applying IPOs through ASBA application or through Demat accounts you can also apply to IPOs with the help of forms provided by NSE or BSE. This is one of the traditional and safe ways to apply for an IPO subscription. Download the form through this link and fill the form carefully. You have to submit your filled form to the bank or broker.

Financials of IPO:

The financials of Fino Payments Bank are very attractive. From 2019 the revenue numbers are increasing constantly. Net income is also increasing slightly. Upcoming financial numbers are expected to be good so we suggest investors apply for the IPO.

YearRevenue (₹ in Cr.)Expense (₹ in Cr.)PAT Net Income (₹ in Cr.)
201937143462.0
2020 691 721 – 32.47
2021 792 77220.70

Fino Payments Bank IPO Registrar

KFin Technologies Private Limited
Selenium , Tower B Plot No – 31 and 32,
Financial District, Nanakramguda Serilingampally
Hyderabad 500 032 Rangareddi, Telangana
Tel: +91 40 6716 2222, +91 40 79611000
Email: [email protected]
Investor g rievance E-mail : [email protected]

Fino Payments Bank Address

Fino Payments Bank Limited
Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1,
8th Floor, TTC Industrial Area, MIDC Shirwane,
Juinagar, Navi Mumbai – 400 706
Phone: +91 22 7104 7000
Email: [email protected]
Website: https://www.finobank.com/

Fino Payments Bank IPO FAQs –


When will Fino Payments Bank IPO open for Investors?

Fino Payments Bank IPO will open on 29th October 2021 and will close on 2nd November 2021.

What is Fino Payments Bank IPO Retail Portion?

The portion allocated for retail investors in Fino Payments Bank IPO is 10%

How to apply for Fino Payments Bank IPO?

You can apply Fino Payments Bank IPO in 3 ways:
Open a Demat account through a bank or brokerage firm and apply through it.
Apply via ASBA application online through your bank.
Fill up the offline IPO form and submit it to the bank or broker.

Should I invest in Fino Payments Bank IPO?

Yes, you can invest in Fino Payments bank IPO because of its unique DTP model, the company plans to make a good customer acquisition in the years to come. Fino Payments Bank became the first digital bank listed on NSE and BSE. Paytm is the biggest competitor for them. Fino Payments bank achieved profitability for the first time in 2021 and we will need to see if they are able to maintain this level of profitability in coming years. 

What is the allotment date for Fino Payments Bank shares?

9th November 2021 is the allotment date for Fino Payments Bank shares.

What is the listing date for Fino Payments Bank IPO?

12th November 2021 is the listing date for Fino Payments Bank. It will be listed on NSE and BSE.

What is the cutoff price for Fino Payments Bank IPO?

The cutoff price for Fino Payments Bank IPO is ₹677 per share.

Will Fino Payments Bank IPO give listing gains?

Investors can invest for the listing gains in the Fino Payments bank IPO. It’s early to predict but  Fino Payments bank IPO can give great listing gains by seeing its grey market premium. You can keep a track of  Fino Payments bank IPO GMP here.

How to Apply the Fino Payments Bank IPO through Upstox?

Open UPSTOX ACCOUNT. Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Fino Payments Bank Finance”. Click on Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve – mandate.

Disclaimer for Investors:

  • We on ipogmp.in do not buy or sell any kind of IPO forms.  
  • Do not subscribe to IPO just by seeing its GMP. You should do proper research about the fundamentals of a company.
  • IPO GMP changes every day and you can view the changes in the above table.
  • Always apply to an IPO after understanding financials and discussing with your financial advisor.
Spread the love

Leave a Reply

Your email address will not be published. Required fields are marked *