New Delhi, Nov 2 (PTI) The initial public offer of Fino Payments Bank was subscribed 2.03 times on the last day of subscription on Tuesday.

The Rs 1,200.3-crore IPO received bids for 2,32,46,150 shares against 1,14,64,664 shares on offer, according to data available with the NSE.

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The category for Qualified Institutional Buyers (QIBs) was subscribed 1.65 times, while that for non-institutional investors was subscribed 21 per cent and Retail Individual Investors (RIIs) 5.92 times.

The initial public offer (IPO) had a fresh issue of up to Rs 300 crore and an offer for sale of up to 1,56,02,999 equity shares.

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The price range for the offer was at Rs 560-577 per share.

Fino Payments Bank had on Thursday said it has garnered Rs 539 crore from anchor investors.

Proceeds from the fresh issue would be used towards augmenting the bank's tier-1 capital base to meet its future capital requirements.

Fino Payments Bank or FPBL is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services.

The company is a fully-owned subsidiary of Fino Paytech, a pioneer in technology-enabled financial inclusion solutions.

Fino Paytech is backed by investors like Blackstone, ICICI Group, Bharat Petroleum and International Finance Corporation (IFC).

Axis Capital, CLSA India, ICICI Securities and Nomura Financial Advisory and Securities were the managers of the offer.

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