Fino Payments Bank stock slips nearly 2% as anchor lock-in period ends

Shares of Fino Payments Bank entered the bourses on November 12, 2021. It was listed at Rs 548, a discount of 5.03% to the issue price of Rs 577

Fino Payments Bank stock on Thursday fell 1.98% to Rs 384.15 as the mandatory one-month lock-in of anchor investors expired for the stock.

Anchor investors are marquee institutional investors who are allotted shares in a company ahead of its initial public offer (IPO).

Fino Payments Bank on October 27, 2021 finaliaed allocation of 93,37,641 equity shares to anchor investors at Rs 577 each, aggregating to Rs 538.78 crore.

The IPO of Fino Payments Bank was subscribed 2.03 times. The issue opened for bidding on October 29 and it closed on November 2, 2021. The price band of the IPO was fixed at Rs