Fino Payments Bank IPO offers fintech exposure but at high valuation

ET Intelligence Group: Issue dates: October 29 – November 02 Issue price: Rs 560-577 Issue Size: Upto Rs 1,200 crore Lot size: 25 shares Implied market cap: Upto Rs 4,802 crore Fino Payments Bank (FPB), the first payments bank to go public, plans to raise Rs 300 crore through fresh equity and another Rs 900 crore through offer for sale as the promoter group offloads a 25 per cent stake. The payments banks (PBs) operate in a regulated