Fino Payments Bank IPO Lists at Discount and Stays Lower

5paisa Research Team 5paisa Research Team 12th December 2022 - 01:44 am

Fino Payments Bank had a weak listing on 12th November and listed at a discount of -5.66%, and closed the day below the listing price. While the stock did show a bounce during the day, it failed to hold on to higher levels.

With overall subscription of just 2.03X and limited trading interest in the GMP market, the listing was expected to be weak.

Here is the Fino Payments Bank listing story on 12-Nov

The Fino Payments Bank IPO price was fixed at the upper end of the band at Rs.577 despite the mere 2.03X subscription. The price band for the IPO was Rs.560 to Rs.577.

On 12th Nov, the stock of Fino Payments Bank listed on the NSE at a price of Rs.544.35, a discount of -5.66% below the issue price of Rs.577. On the BSE, the stock listed at Rs.548 a discount of -5.03% on the issue price.

On the NSE, Fino Payments Bank closed on 12-Nov at a price of Rs.535.45, a first day closing discount of -7.2% on the issue price. On the BSE, the stock closed at Rs.545.25, a first day closing discount of a more moderate -5.5% on the issue price.

On both the exchanges, the stock not only listed below the IPO price but closed Day-1 below the listing price. On Day-1 of listing, Fino Payments Bank touched a high of Rs.582.95 on the NSE and a low of Rs.511.05. The damage was limited below the listing price.

Check - Fino Payments Bank - Subscription Day 1

On Day-1 of listing, the Fino Payments Bank stock traded a total of 101.13 lakh shares on NSE amounting to value of Rs.548.25 crore. It did not feature among the top trades on value or on volumes on NSE.

On the BSE, Fino Payments Bank touched a high of Rs.583.35 and a low of Rs.510.80. On BSE, the stock traded a total of 6.24 lakh shares amounting to value of Rs.33.85 crore. It was not among the most active shares on the BSE.

At the close of Day-1 of listing, Fino Payments Bank had a market capitalization of Rs.4,537.26 crore with free-float market cap of just Rs.635.22 crore.

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