Shares of Fino Payments Bank made its bourses debut on Friday by listing at ₹544 per share with a discount of over 5% on the NSE corresponding to its IPO issue price of ₹577 apiece. On the other hand, Fino Payments Bank share price started trading at ₹548 per share on its listing on BSE.

The initial public offering (IPO) of Fino Payments Bank opened on October 29 and closed on November 1, which was subscribed 2.03 times on the last day of subscription. As per the data available with the NSE, ₹1,200.3 crore worth IPO received bids for 2,32,46,150 shares against 1,14,64,664 shares on offer.

Fino Payments Bank has been booking profits since the fourth quarter of the financial year 2020. The Mumbai headquartered bank posted a profit of Rs 20.47 crore in FY21, against a loss of Rs 32.03 crore in FY20. Revenue of the Payments bank increased to Rs 791 crore from Rs 691.3 crore in the same period.

In the quarter ended June 2021, its revenue jumped from 151.3 crore to Rs.206.2 crore. During the three months, the lender registered a profit of Rs 3.12 crore against Rs 1.85 crore in the corresponding period, last fiscal.

The Qualified Institutional Buyers category was subscribed 1.65 times, and the shares set aside for HNIs was subscribed 21%, whereas the retail category was subscribed 5.92 times.