India’s first profitable payment bank is going to list today — here’s all you need to know

• Fino Payments Bank’s IPO was oversubscribed by 2x.
• The payment bank’s IPO was launched on October 29, 2021.
• The company raised ₹1,200 crore through this public issue.

Navi Mumbai-based fintech company Fino Payments Bank will make its debut on the stock market at 10:00 a.m., today, November 12, after its initial public offering (IPO) was oversubscribed by 2.03 times.

Fino Payments Bank will be the first payments bank to get listed on the stock exchanges, that too while making profits.

The company received a good response from the investors during its IPO. The portion reserved for retail investors was oversubscribed by 5.92 times on the last day of IPO bidding, on November 2.

Fino Payments Bank’s IPO was launched on October 29, 2021.

The demand from non-institutional investors, which includes companies as well as high net-worth individuals (HNI), was pretty low and the portion reserved for them was only subscribed 21%.

Investors	Status
Qualified Institutional Investors	1.64 times
Non-institutional investors	0.21 times
Retail investors	5.92 times
Overall	2.03 times

Source: Stock Exchange

Fino Payments Bank raised ₹1,200 crore through this public issue. Of this, ₹300 crore was through fresh issue and ₹900 crore was through offer of sale, which provided partial exits to company’s existing investors.

The company will use the net proceeds from the fresh issue to augment its tier-I capital base to meet its future capital requirements.

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