FINO Payments Bank made a weak debut in the secondary market on Friday, with shares listing at a discount to the issue price. FINO Payments Bank shares listed at Rs 548 apiece on BSE, a discount of five percent to the issue price of Rs 577 of its initial public offer (IPO), which was subscribed two times.
On NSE, the stock began its journey at Rs 544.35, a 5.7 percent discount to the issue price.
Prior to the initial share sale, Fino Payments Bank had garnered Rs 539 crore from 29 anchor investors.
ALSO READ
Fino Payments Bank is a scheduled commercial bank serving the emerging Indian market with its digital-based financial services. It offers a range of financial products and services. It is a fully-owned subsidiary of Fino Paytech, a pioneer in technology-enabled financial inclusion solutions.
Read More: Fino Payments Bank Makes Weak Market Debut, Shares List At 6% Discount To