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Today is the last day to subscribe to Fino Payments Bank IPO

Today is the last day to subscribe to Fino Payments Bank IPO
  • The retail investors have subscribed to the Fino Payments Bank IPO 4.65 times on the second day of IPO bidding process.
  • The firm is looking to raise ₹1,200 crore through the public listing including an offer for sale worth ₹900 crore.
  • The Navi Mumbai-based fintech company Fino Payments Bank will be the first payments bank to get listed on the stock exchanges, that too while making profits.
  • You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.
If you’re looking to invest in the initial public offerings (IPO) of Navi Mumbai-based fintech company Fino Payments Bank, today is the last day.

The IPO has been subscribed 0.87 times on the first day of the IPO. The retail investors have subscribed 4.65 times to the IPO.

The company is looking to raise ₹1,200 crore through public listing including ₹900 crore through an offer for sale and ₹300 crore through fresh issue of shares. The price band of the IPO is set at ₹560-577 per share.

The company claims to be the first profitable player in the payments bank space to hit the Indian stock market. Paytm is another payments bank firm in line to get listed soon.

“We are the only scheduled payment bank, which is profitable, we have set up the bank on very low capital,” said Rishi Gupta, managing director and chief executive officer (CEO) of the payment bank.

Analysts are positive on the fintech industry and believe they are poised to grow in the future.

“Fintech companies' demand is poised for growth on the back of rising internet penetration, higher disposable income, development of technology, low-cost infrastructure, government initiatives like UPI, etc. We believe Fino Bank is one of the key beneficiaries of opportunities in the sector,” said analysts at Religare Broking.

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