Fino Payments Bank makes a weak debut, lists at over 5% below issue price

Fino Payments Bank shares listing: The scrip of Fino Payments Bank got listed at Rs 544.35 apiece on the National Stock Exchange (NSE), thereby registering a fall of 5.66 per cent from its offer price of Rs 577.00.

Fino Payments Bank share price: Shares of Fino Payments Bank made a weak debut and got listed at a loss of over 5 per cent below their issue price in the stock exchanges today.

The scrip got listed at Rs 544.35 apiece on the National Stock Exchange (NSE), thereby registering a fall of 5.66 per cent from its offer price of Rs 577.00, while on the BSE, it opened at Rs 548.00, down 5.03 per cent from the issue price.

The stock however inched higher from its opening levels continued in the early trade touching a high of Rs 583.35 on BSE and Rs 582.95 on the NSE.

At 10:15 am, the scrip was trading at Rs 563.00 on the BSE, down 2.43 per cent from the issue price while on NSE it was at Rs 567.30. The m-cap was at Rs 4,685.38 crore, data from the BSE showed.

Around 24.50 lakh shares of Fino Payments Bank were traded so far in the intraday trad on NSE while over 1.68 lakh shares exchanged hands on the BSE, data from the respective stock exchange showed.

The Rs 1,200 crore initial public offering (IPO) of Fino Payments Bank was subscribed 2.03 times during its offer period from October 29-November 2, 2021.

It comprised a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by its promoter Fino Paytech.

Fino Paytech is backed by investors such as Blackstone, ICICI Group, Bharat Petroleum and International Finance Corporation (IFC).

Fino Payments Bank is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services.

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