Tag: qualified institutional buyers

Fino Payments Bank IPO fully subscribed on last day, BFSI News, ET BFSI

Personal Finance

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The initial public offer of Fino Payments Bank was subscribed 2.03 times on the last day of subscription on Tuesday. The Rs 1,200.3-crore IPO received bids for 2,32,46,150 shares against 1,14,64,664 shares on offer, according to data available with the NSE.

The category for Qualified Institutional Buyers (QIBs) was subscribed 1.65 times, while that for non-institutional investors was subscribed 21 per cent and Retail Individual Investors (RIIs) 5.92 times.

The initial public offer (IPO) had a fresh issue of up to Rs 300 crore and an offer for sale of up to 1,56,02,999 equity shares.

The price range for the offer was at Rs 560-577 per share.

Fino Payments Bank had on Thursday said it has garnered Rs 539 crore from anchor investors.

Proceeds from the fresh issue would be used towards augmenting the bank’s tier-1 capital base to meet its future capital requirements.

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).

Axis Capital, CLSA India, ICICI Securities and Nomura Financial Advisory and Securities were the managers of the offer. PTI SUM ANU ANU



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QIBs allotted 55 crore shares worth ₹4,500 crore

Banking & Finance

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Eligible qualified institutional buyers (QIBs), including BNP Paribas Arbitrage, SBI Life Insurance Company and Life Insurance Corporation of India, have been collectively allotted about 55 crore equity shares aggregating about ₹4,500 crore by the Capital Raising Committee of the Board of Directors of Bank of Baroda (BoB).

BoB’s qualified institutional placement (QIP) issue opened for subscription on February 25, 2021 and closed on March 2.

According to the bank’s regulatory filing, the issue price of ₹81.70 per equity share (including a premium of ₹79.70 per equity share) was at a discount of 5 per cent to the floor price of ₹85.98 per equity share determined as per SEBI Regulations for equity shares to be allotted to eligible QIBs in the issue.

The QIBs who have been allotted more than 5 per cent of the equity shares offered in the issue include BNP Paribas Arbitrage (11.26 per cent of the issue size), SBI Life Insurance Company (11.11 per cent), Life Insurance Corporation of India (10.44 per cent), and Nippon India Large Cap Fund and ICICI Prudential Business Cycle Fund (10.17 per cent each).

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