InvestorQ : Can you tell me details about the proposed IPO of Fino Payments Bank?
prachi Patwardhan made post

Can you tell me details about the proposed IPO of Fino Payments Bank?

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sara Kunju answered.
2 months ago
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Fino Payments, which had filed for its proposed IPO a couple of months back, has secured SEBI approval for going ahead with its proposed IPO. The next logical steps would be to start the IPO rollout process in consultation with the merchant bankers. This will be followed up with filing the RHP with the Registrar of Companies before the IPO. Fino Payments is a registered payment bank and it is regulated by the RBI under the Payment Bank rules.

The IPO of Fino Payments will be a combination of fresh issue and an offer for sale or OFS by the early investors. It will entail a fresh issue of Rs.300 crore as well as an offer for sale or OFS of 156.03 lakh shares. The final size of the IPO will depend on the price band that is arrived at by Fino Payments in consultation with merchant bankers. Fino offers a wide array of financial services on its platform and is a digitally driven Fintech play in India.

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