Fino Payments Bank’s ₹1,200-crore IPO will open for subscription on Friday and close on Tuesday. The price band for the IPO will be ₹ 560-577. Market lot is 25 shares.

The IPO comprises a fresh issue of ₹300 crore and an offer for sale (OFS) of 1.56 crore equity shares by promoter Fino Paytech.

Fino Payments Bank, ahead of the IPO, raised ₹538 crore from 29 anchor Investors on Thursday. As per a stock exchange notification, marquee investors such as Fidelity, HSBC Global, Pinebridge, Birla Mutual Fund, Motilal Oswal, TATA Mutual Fund, SBI Life, Invesco, BNP Paribas and Societe Generale have been allotted shares among others.

According to IPO papers, 75 per cent of the IPO will be allocated to institutional investors. Non-institutional investors comprising high net worth individuals, retail shareholders and employees can invest in the remaining 25 per cent of the book.

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Promoter Fino Paytech is backed by marquee investors including Blackstone GPV Capital Partners (Mauritius) VI-B FDI, Intel Capital Corporation, ICICI Bank, International Finance Corporation, HAV3 Holdings (Mauritius) and Bharat Petroleum Corporation.

Nykaa sees huge response from retail investors

The IPO of FSN E-Commerce Ventures, a multi-brand beauty, personal care and fashion platform under Nykaa, was subscribed fully on day 1 itself, thanks to a strong response from retail investors. The price band of the issue is ₹1,085-1,125 a share. The issue will close on November 1 and the market lot is 12 shares.

The IPO comprises fresh issue of shares worth ₹630 crore and an offer for sale of shares worth ₹4,721.92 crore by several selling shareholders including the promoters and investors.

While the retail portion was subscribed 3.5 times while the non-institutional investor category received bids worth 0.6 times. The qualified institutional buyer category was subscribed 1.39 times and the employees portion saw 0.68 times subscription, making the issue subscribed 1.55 times overall on day 1 itself.

Anchor investors

Ahead of the issue on Wednesday, FSN E-Commerce Ventures mopped up ₹2,396 crore from 174 anchor investors. The company has finalised allocation of 2.13 crore shares to anchor investors, at ₹1,125 a share, at the upper end of the price band.

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Among the marquee investors included Blackrock Global Funds, BEST Investment Corporation, Emerging Markets Growth Fund, Fidelity Funds, Government Of Singapore, Canada Pension Plan Investment Board, T Rowe Price, JP Morgan, Aberdeen Abu Dhabi Investment Authority, CLSA, Goldman Sachs, and Monetary Authority of Singapore.

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