Financial Insights

Fino Payments Bank IPO subscribed 13% on bidding debut

The IPO of FinTech firm Fino Payments Bank has been subscribed to 13% so far as investors submitted an offer of 14.52 shares to the 1.14 billion IPO on October 29, the first day of bidding.

After raising Rs 53.78 billion from anchor investors on October 28, the total public offering has dropped from the previous 2.09 billion shares to 1.14 billion shares.

The individual investors bought 70% of the shares in the reserved portion and employees submitted an offer of 300 shares in the reserved portion.
The portion reserved for non-institutional and qualified institutional investors has not yet bid.

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