Page 2 - Fino Payments Bank

Fino Payments Bank promoters vote against reappointing chairman, others

The resolution to reappoint Mahendra Kumar Chouhan and Punita Sinha was voted down by 80% of shareholders of Fino Payments Bank, which included 100% of the promoter group

Fino Payments Bank receives RBI nod to offer partner bank's FD, RD services

Fino Payments Bank on Wednesday said it has received the RBI approval for commencing referral services of fixed deposit (FD) and recurring deposit (RD) on behalf of a partner bank. In its letter dated April 19, the RBI stated that Fino Bank can carry out referral services of term deposit products in the form of FD and RD as a Business Correspondent of Suryoday Small Finance Bank (SSFB). The association is the second between Fino Bank and SSFB and the first one as listed entities, the payment bank said in a statement. Earlier, Fino partnered with SSFB to offer a sweep account facility to its customers to address the Rs 1 lakh end of the day deposit limit, which was later revised to Rs 2 lakh. The FD and RD referral services will be offered to Fino Bank's over 3.9 million customers who are aspirational and need access to these products to ensure their financial needs are met, the statement said. The service is expected to go live in the second quarter of FY23.

Stocks to Watch: RBL Bank, TVS Motors, Fino Payments Bank, PNB, Telecom

3i Infotech, BEL, Dixon Tech, Kotak Bank, Karnataka Bank, Larsen & Toubro, Marico, NIIT, Naukri, Suzlon, United Breweries and Vedanta to announce results today.

Fino Payments Bank net profit rises 116% at Rs 14.1 crore in Dec quarter

Its revenues rose by 20 per cent YoY to Rs 275.16 crore in Q3Fy22

RBI gives nod to Fino Payments Bank's international money transfer service

Customers of Fino Payments Bank will be able to receive remittance money sent from overseas as it has been granted approval by RBI to offer the international money transfer service.

Fino Payments Bank eyes 30-35% long-term revenue growth: MD Rishi Gupta

Gupta said Fino is a very differentiated payments bank compared to other fintech players in the market.

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 not planning to turn into small finance bank 'right now': CEO

Company is only profitable payments bank and 'lot of things need to settle down first' for it to consider seeking a licence for conversion, says Rishi Gupta

Nykaa, Paytm, Latent View: December will be a trying time for these 10 stks

From December 8, Edelweiss said there are ten issuances where the anchor lock-in is set to unravel, including FSN E-Commerce Ventures (Nykaa), FINO Payments Bank, Latent View Analytics and PB Fintech

Paytm plunges 36% from issue price; Fino Payments Bank falls for 5th day

Paytm shares were down 12% to Rs 1,370 on the BSE in the intra-day trade

Fino Payments Bank's September quarter net rises 74%, revenue up 35%

Its revenue during the reporting quarter was up by 35& YOY to Rs 242 crore from Rs 179 crore in the quarter ended September 2021

Fino Payments Bank reports 74% jump in profit for Sept quarter

Recently listed Fino Payments Bank on Saturday reported a 74 per cent jump in its net profit to Rs 7.89 crore in the quarter ended in September 2021. The bank had posted a net profit of Rs 4.52 crore in the year ago same period. Revenue of the bank grew by 35 per cent year-on-year to Rs 242.15 crore on the back of a growth of 32 per cent in transaction revenue, 43 per cent in subscription income and 35 per cent in open banking, Fino Payments Bank said in a regulatory filing. The bank completed its initial public offer (IPO) and listed its shares on November 12, 2021 on NSE and BSE. Current account and savings account (CASA) subscription revenue grew by 78.3 per cent on the year while subscription yield increased from Rs 402 per account in Q2FY21 to Rs 481 per account in Q2FY22, it said. "Our growth momentum in transaction volumes and throughput continues to be strong. Consumer behaviour towards convenience banking is gaining impetus," Rishi Gupta, CEO & Managing Director ...

Fino Payments shares drop 11% intraday on debut, before ending 6% down

Weak debut follows modest response to the firm's share sale. Its Rs 1,200-cr IPO was subscribed just two times

Sensex vaults 767pts, Nifty ends above 18,100; IT, financial stocks shine

In the primary market, Latent View Analytics IPO witnessed frenzied demand, and was subscribed over 305 times with strong demand from non-institutional investors

Fino Payments Bank makes weak debut, lists at 6% discount to issue price

The stock opened at Rs 544.35, a 6% discount to its issue price of Rs 577 per share

Fino Payments Bank subscribed two times on last day, HNI response tepid

IPO was Rs 300 crore fresh fund raise, Rs 900 crore secondary share sale by promoter Fino Paytech; bank will use fresh proceeds to augment tier-1 capital base

Fino Payments Bank raises Rs 539 cr from anchor investors ahead of IPO

Fino Payments Bank on Thursday said it has garnered Rs 539 crore from anchor investors ahead of its initial share sale that opens for public subscription on Friday

Policybazaar's Rs 5.8k-crore IPO to open on Monday: Check details here

The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders

Fino Payments Bank IPO to open on October 29, price band Rs 560-577 a share

The offer consists of Rs 300 crore fresh fund raise and Rs 900 crore secondary share sale by promoter Fino Paytech

Fino Payments Bank IPO to open on Oct 29; price band set at Rs 560-577

Fino Payments Bank on Tuesday said it has fixed a price band of Rs 560-577 a share for its Rs 1,200-crore initial public offering, which will open on October 29. The three-day initial share-sale will conclude on November 2, the company announced in a virtual press conference. The initial public offer (IPO) includes a fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 15,602,999 equity shares by the promoter Fino Paytech. The offer includes a reservation of Rs 3 crore worth of shares for the company's eligible employees. At the upper end of the price band, the initial share-sale is expected to fetch Rs 1,200.3 crore. Proceeds from the fresh issue would be used towards augmenting the bank's Tier-1 capital base to meet its future capital requirements. Investors can bid for a minimum of 25 equity shares and in multiples of 25 equity shares thereafter. The company said that up to 75 per cent of the total offer has been reserved for qualified institutional