Fino Payments Bank announces launch of initial public offering
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Fino Payments Bank Ltd. has announced public offering of 20802307 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 567.00 per share. The gross proceeds of the issue are expected to be Rs 1,20,029.31 lakhs. The company's initial public offer (IPO) will open on 29 October 2021 and is expected to close on 02 November 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 560.00-577.00 per share.
The IPO includes a fresh Issue of 20802307 Equity Shares of the Company at an price of Rs 577.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 25 shares with bids in multiples of 25. Fino Payments Bank Ltd. anticipates using the proceeds of the issue for . CLSA INDIA LTD,Axis Capital Ltd,Nomura Financial Advisory & Securities (I) P Ltd.,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.
