Fino Payments IPO Subscription Status: FINAL
Fino Payments Bank Limited, incorporated in 2017, is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. Their products and services include various current accounts and savings accounts (“CASA”), issuance of debit card and related transactions, facilitating domestic remittances, open banking functionality (via Application Programming Interface (“API”)), withdrawing and depositing cash (via micro-ATM or Aadhaar Enabled Payment System “AePS”) and cash management services (“CMS”).
| Investor Category | Quota | Subscription |
|---|---|---|
| Institutional (QIB) | 75% | 1.65x |
| Non-Insti. (HNI) | 15% | 0.21x |
| Retail (RII) | 10% | 5.92x |
| Shareholder | – | 0.93x |
| Total Subscription | 100% | 2.03x |
Fino Payments IPO Subscription: Analyst Recommendations
CHOICE BROKING – SUBSCRIBE WITH CAUTION [ Report ]
“At the higher price band of Rs577, FPBL’s demanding valuation is stood at Rs4,801 cr. Post issue book value per share is calculated at Rs58.5 translating to P/BV of 9.9x at higher price band which looks very expensive. There are no listed peer in the market with same business profile”
NIRMAL BANG SECURITIES – NEUTRAL
“Having demonstrated profitability during FY21 and scope for further improvement in ROE via operating leverage, we believe Fino is reasonably valued and offers good prospects for appreciation in future,”
RELIANCE SECURITIES – SUBSCRIBE WITH CAUTION
“FPBL is poised to see a healthy business opportunity in subsequent years in the backdrop of strong digital platform and resources built in the last couple of years. However, we believe current valuations do not leave much on the table for investors in the medium-term perspective,”
Fino Payments IPO Subscription: End of Day Update
| Day | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.00x | 1.65x |
| HNI | 0.05x | 0.10x | 0.21x |
| Retail | 2.73x | 4.65x | 5.92x |
| Employee | 0.25x | 0.56x | 0.93x |
| Total | 0.51x | 0.87x | 2.03x |
Fino Payments IPO Subscription: Key IPO Details
| Type | Value |
|---|---|
| Issue Size | ₹1,200.29 Cr |
| Open Date | 29/10/2021 |
| Close Date | 2/11/2021 |
| Face Value | ₹10/- per Equity Share |
| IPO Price | ₹560 – ₹577 |
| Lot Size | 25 shares |
| Lots | Min 1 – Max 13 |
Fino Payments IPO Subscription: Financials
| 2019 | 2020 | 2021 Mar | 2021 June | |
|---|---|---|---|---|
| Revenue from Ops | ₹371.12 Cr | ₹691.40 Cr | ₹791.03 Cr | ₹206.24 Cr |
| Net Profit | ₹(62.38) Cr | ₹(32.04) Cr | ₹20.48 Cr | ₹3.13 Cr |
| Loss Brought Forward | ₹(224.6) Cr | ₹(286.9) Cr | ₹(318.9) Cr | ₹(303.6) Cr |
| Profit after Tax | ₹(286.9) Cr | ₹(318.9) Cr | ₹(298.5) Cr | ₹(300.5) Cr |
| EPS (Basic) | (8.00) | (4.11) | 2.62 | 0.40 |
| EPS (Avg*) | P/E (Floor) | P/E (Cap) | |
|---|---|---|---|
| Based on basic EPS | (1.39) | – | – |
Fino Payments IPO: Comparison with listed industry peers
As per RHP, there are no listed companies in India whose business portfolio is comparable with that of Fino Payment’s business and comparable to the scale of its operations.
Fino Payments IPO Subscription – FAQs
1. How to apply for Fino Payments IPO in the Retail Category?
A: An investor in the retail category may either apply through the UPI process via DEMAT account or the ASBA process via bank account
2. How to apply for Fino Payments IPO in HNI Category?
A: An investor can apply in the HNI category only through the ASBA process via bank account
3. Where can I find the Red Herring Prospectus (RHP) details?
A: You can visit the NSE or SEBI website for these details. Alternately you can click here: RHP
