The initial public offering of Fino Payments Bank was subscribed 2.03 times on the third and the final day with strong interest from retail investors.
According to data available on the BSE, bids were received for 2.32 crore shares as against 1.14 crore shares offered in the IPO.
Marquee investors
The portion set aside for non-institutional investors (widely known as HNIs) saw a subscription of 0.21 times, and that of QIB witnessed a subscription of 1.65 times. The portion for retail investors was oversubscribed 5.92 times and the employee quota by 0.93 times. The offer comprises fresh issuance of equity shares aggregating up to ₹300 crore and an offer for sale of up to 1.56 crore equity shares by selling shareholders. The overall issue size was about ₹1,200 crore.
“The fintech company on October 28 garnered ₹538.78 crore from 29 anchor investors, ahead of its initial public offering,” Fino Payments Bank said in a statement on Tuesday.
Marquee investors that picked up stakes included Pinebridge Global Funds, HSBC, Invesco Trustee, ITPL Invesco, Matthews Asia Small Companies Fund, Fidelity Funds, Societe Generale, and Segantii India Mauritius.
The issue had opened on October 29. Axis Capital, CLSA India, ICICI Securities, and Nomura Financial Advisory and Securities are the book running lead managers to the offer.
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