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Subscribe to Fino Payment Bank: KR Choksey

KR Choksey has come out with its report on Fino Payment Bank. The research firm has recommended to ''Subscribe'' the ipo in its research report as on October 29, 2021.

October 29, 2021 / 01:58 PM IST
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KR Choksey IPO report on Fino Payment Bank

Fino Payment Bank (‘’Fino Bank’’), a growing fintech company, offers a diverse range of financial products and services that are primarily digital and have a payments focus. The bank offers such products and services to its target market via a pan-India distribution network and proprietary technologies. The bank operates an asset-light business model that relies on fee and commission-based income generated from its merchant network and strategic commercial relationships. Each merchant serves its community's banking and financial needs, which in turn forms the backbone of the bank's assisted-digital ecosystem, referred to as "phygital" delivery model. Through the "phygital" delivery model, the bank's merchants onboard customers and facilitate transactions, ensuring the bank's network grows and its products and services are more accessible to a broader range of customers throughout India.

Valuation and Outlook

Taking into consideration of all the positives and the challenges of Fino Bank, we recommend a 'SUBSCRIBE’ for the IPO from a longer term perspective, however with a caveat that investors will have to keep patience for getting returns from this IPO, and should not expect any quick listing gains as the company is here for a long haul and stretched valuation leaves little room for any listing gains.