Fino Payments Bank files papers with SEBI for Rs 1,300 crore IPO

It is planning to raise an amount of Rs 1,300 crore which includes a fresh issue of Rs 300 crore as well as an OFS component.

Blackstone, ICICI Group and BPCL backed Fino Payments Bank have filed the draft documents with market regulator SEBI for an initial public offer (IPO).  It is planning to raise an amount of Rs 1,300 crore which includes a fresh issue of Rs 300 crore as well as an OFS component. “The fintech bank turned profitable in the fourth quarter of 2019-20 and has consistently enhanced its profitability since. This makes Fino Payments Bank the first profitable fintech to file for an IPO,” it said in a statement.