Home / Markets / Ipo /  Fino Payments Bank IPO price band fixed at 560-577 a share
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MUMBAI : Fino Payments Bank Ltd has set a price band of 560-577 apiece for its three-day initial public offering (IPO), which will open for subscription on 29 October. It plans to list on the exchanges on 12 November. The IPO comprises a fresh issue worth 300 crore and an offer for sale of up to 15.60 million shares by Fino Paytech Ltd, the parent firm.

At the upper end of the price band, Fino Payments Bank is looking to raise 1,200 crore. It is backed by marquee investors such as Blackstone, ICICI Group, Bharat Petroleum and International Finance Corp. Axis Capital, CLSA Capital, ICICI Securities and Nomura Financial Advisory and Securities are the book running lead managers to the issue.

According to the payments bank, net proceeds from the IPO will be used to increase its tier-1 capital base. In FY21 the payments bank’s tier-1 capital ratio was at 56.25%.

Sigachi Industries Ltd, which is planning to list on 11 November , has set a price band of 161-163 a share. The IPO is set to open for subscription on 1 November. The IPO consists of a fresh issue of 7.70 million shares. It had earlier planned to sell 2.84 million shares for the proposed share sale. On the upper end of the price band, it is set to raise 125.43 crore.

The Hyderabad-based company manufactures microcrystalline cellulose, a polymer widely used by the pharmaceutical industry.

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