Latest News | Fino Payments Bank Shares Close with Nearly 6 Pc Discount in Debut Trade

New Delhi, Nov 12 (PTI) Shares of Fino Payments Bank Ltd made a tepid market debut on Friday and settled with a discount of nearly 6 per cent from its issue price of Rs 577.

The stock made its debut at Rs 548, a decline of 5 per cent from the issue price on BSE. During the day, it dipped 11.47 per cent to Rs 510.80. The stock declined 5.50 per cent to close at Rs 545.25.

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On NSE, it listed at Rs 544.35, lower by 5.65 per cent. It slipped 5.73 per cent to settle at Rs 543.90.

In volume terms, 6.24 lakh shares were traded on BSE and over 1 crore on NSE.

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The initial public offer of Fino Payments Bank Limited was subscribed 2.03 times earlier this month.

The Rs 1,200.3-crore IPO had a price range of Rs 560-577 per share.

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).

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)