Fino Payments Bank files IPO papers

Fino Payments Bank Ltd (FPBL) has filed draft documents with the SEBI for an initial public offering (IPO). According to merchant banking executives the IPO size is likely to be ₹1,300 crore, including a fresh issue of ₹300 crore.

FPBL is backed by Blackstone, ICICI Group and BPCL. The company is a wholly owned subsidiary of Fino Paytech Ltd. (FPL).

The fintech bank turned profitable in the fourth quarter of FY20 and has since enhanced its profitability.

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Printable version | Sep 26, 2021 5:46:37 AM |

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