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Fino Payments Bank mobilises Rs 538.78 crore from anchor investors ahead of IPO

Fino Payments Bank is planning to raise Rs 1,200 crore through its public issue, at the upper end of price band of Rs 560-Rs 577 per equity share.

October 28, 2021 / 10:32 PM IST
Representative image

Representative image

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  • nselive
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Fintech company Fino Payments Bank on October 28 garnered Rs 538.78 crore from 29 anchor investors, ahead of its initial public offering (IPO). The offer will open for subscription on October 29 and this would be the second IPO to be launched this week.

The company in its circular dated October 28, said after consultation with merchant bankers they have finalised allocation of 93,37,641 equity shares to anchor investors, at a price of Rs 577 per share.

Marquee investors that picked stake in the company through anchor book included Pinebridge Global Funds, HSBC, Invesco Trustee, ITPL Invesco, Matthews Asia Small Companies Fund, Fidelity Funds, Societe Generale, and Segantii India Mauritius.

Among other investors, BNP Paribas, Tata MF, SBI Life Insurance, Motilal Oswal MF, and Aditya Birla Sun Life Trustee also invested in the fintech company, via anchor book on Thursday.