Fino Payments Bank raises ₹539 crores from 29 Anchor Investors

Fino Payments Bank, operate an asset light business model where each Banking Outlet (merchant) serves the banking and financial needs of its community, which in turn forms the backbone of our assisted-digital ecosystem, referred to as our “phygital” delivery mode, received Rs 539 crore from anchor investors on thursday, October 28, 2021, just before the IPO. The Fino Payments Bank initial public offering (IPO) is set to begin on Friday, Oct 29th. At a price band of 577, the company allocated a total of 93,37,641 equity shares to 29 anchor investors. 5 Mutual Funds through a total of 17 schemes make up the anchor investor list. The company plans to raise 1,200.29 crores through an initial public offering (IPO).

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