Fino Payments Bank IPO to list around its issue price of Rs 577, long term Investors can hold: Anil Singhvi

Fino Payments Bank is scheduled to make a market debut on exchanges on November 12, 2021. The initial public offer of the payments bank was oversubscribed 2.03 times during three-day period between October 29 to November 1, 2021.

The retail investors queued most for Fino Payments shares, as the quota set for the category was oversubscribed 5.92 times, followed by QIB category subscribed  1.65 times in QIB, and 0.21 times bidding was seen from the NII category.

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What to expect from listing? 

Zee Business Managing Editor Anil Singhvi has suggested to hold the share for long-term. The Market Guru was not expecting much of a listing gain from this issue. He expects it to list around its issue price. "Expected to list around issue price of 577. Long term Investors can hold."

फिनो पेमेंट्स बैंक की लिस्टिंग आज

लिस्टिंग पर बने रहें या निकल जाएं?

लिस्टिंग पर क्या है अनिल सिंघवी की राय?#EditorsTake | #FinoPaymentsBank | #listing | #AnilSinghvi @AnilSinghvi_ pic.twitter.com/wF99QsYNjn

— Zee Business (@ZeeBusiness) November 12, 2021

Singhvi in his IPO preview expected the company won’t make any listing gains, however, he noted one should apply for this IPO only with a long term objective. 

Explaining what's working for this IPO, the managing editor said there are many positives, including big Investors and strong anchor book. Besides, Strong growth track record, positive outlook and profit-making startup are other positives about this company.

As a negative, Singhvi says the company is into highly competitive business and risk of change in government policies may pose some problem for the company.

The Rs 1,200 crore IPO comprises of Rs 900 crore offer for sale of 1.56 crore shares and Rs 300 fresh issue of 52 lakh shares. The price band is set at Rs 560-577 per share.

A Navi-Mumbai-based company claims to be the first profitable player in the payments bank space to hit the Indian stock market.

Fino Payments Bank is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have payments focus.

The company is wholly-owned subsidiary of Fino Paytech, and offers products and services to its target market that are an unserved and underserved population of Indian society through the pan-India merchant network.