Fino Payments Bank to merge its holding company

The process would begin once Fino completes its proposed IPO by December 2021, according to Economic Times. Fino filed its DHRC with SEBI in August 2021. The finance bank may also give partial exits to some of its early investors via the IPO.

With the payment bank expected to launch its IPO by the end of 2021, some of the investors in the bank may sell a part of their stake via the Rs1500 crore IPO. The current investors at Fino are Blackstone, Bharat Petroleum, Intel, IFC, and ICICI Bank to name a few.

Fino offers a range of financial products and services primarily in the digital space including current accounts and savings accounts, issuance of debit card and related transactions, facilitating domestic remittances, Open Banking functionality, withdrawing and depositing cash, and cash management services (CMS).