Brokers usually take bids until: Zerodha 4:45 PM, Groww 4:50 PM, Angel One and Upstox 5:00 PM (HNI 4:00 PM). Check the exact time with your broker or bank.
Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Augmenting the bank's Tier-1 capital base
-
(₹ in Crore)
Tap a bar to highlight a metric across periods and show its values.
No peer comparisons added yet.
Fino Payments Bank Limited is a Navi Mumbai based fintech company that was incorporated in 2017 and became the first payments bank in India to list on the stock exchanges while already profitable. It offers a wide range of largely digital, payments focused financial products through a pan-India distribution network. Its offerings include current and savings accounts, debit card issuance, domestic remittances, open banking through APIs, and cash withdrawal and deposit services via micro-ATMs and the Aadhaar Enabled Payment System, along with cash management services. Through its merchant network the bank also cross-sells third-party products such as gold loans, insurance, and bill payments, and manages business correspondent networks on behalf of other banks. The company counts marquee institutional investors among its backers, including Blackstone, ICICI Bank, Bharat Petroleum, Intel Capital, and IFC. After reporting losses in its earlier years, it turned profitable in fiscal 2021, the year ahead of its public listing, reflecting the scaling of its asset-light, transaction-led banking model.
Ahead of the offer, the company raised approximately Rs 538.78 crore from 29 anchor investors, including PineBridge Global Funds, HSBC, Invesco, Matthews Asia, Fidelity Funds, Societe Generale, Segantii, BNP Paribas, Tata Mutual Fund, SBI Life Insurance, Motilal Oswal Mutual Fund and Aditya Birla Sun Life.
Source: RHP • Analysis provided for informational purposes
Last Updated: 20 July 2026, 5:30 AM
First profitable payments bank to list
The company turned profitable in fiscal 2021, becoming the first Indian payments bank to reach the public markets while already generating profits.
Pan-India distribution reach
A wide network of banking outlets and customer service points across most of India's districts gives it broad access to underserved customer segments.
Diversified fee income streams
Beyond core banking, cross-selling of gold loans, insurance and bill payments through its merchant network adds diversified, capital-light revenue.
Backed by marquee institutional investors
Investors including Blackstone, ICICI Bank and IFC lend the company credibility and access to capital and expertise.
History of losses
The company reported losses in fiscal 2019 and 2020 and only turned profitable in fiscal 2021, so sustained profitability is not yet well established.
Regulatory constraints of the payments bank model
Payments banks operate under RBI restrictions such as deposit caps, which can limit growth relative to universal banks.
Thin margins on transaction-led business
Revenue is heavily linked to transaction volumes and fee income, which can be pressured by competition and pricing changes.
Fino Payments Bank Limited
Mindspace Juinagar, Plot No Gen 2/1/F, Tower 1, 8th Floor, TTC Industrial Area, MIDC Shirwane, Juinagar, Navi Mumbai 400706, Maharashtra, India
View on Maps →No financial information whatsoever published anywhere, within this website, should be considered as an advice to buy or sell securities or invest in IPOs, or as a guide to doing so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions.
We are not a SEBI Registered analyst. Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this website. The information on this website is based on information available as on date coupled with market perceptions.
You agree with the terms and conditions to use this website.
Grey-market disclaimer. GMP shown here is grey-market news only. We do not trade or deal in the grey market or subject-to rates, nor do we recommend trading in the grey market.
Not investment advice. IPO Nex is an information tool, not investment advice. We do not recommend buying or selling any securities. Always do your own research before applying to any IPO.
IPO Nex does not guarantee any listing gain or return. IPO investments are subject to market risks.
All times are IST.
© 2026 IPO Nex by Niota. All rights reserved.
Dependence on the merchant and BC network
A large share of operations runs through business correspondents and merchant partners, exposing the bank to execution and compliance risk in that network.