Private Equity

Private Equity Fund Investments

IPO-bound Fino PayTech to raise Rs 75-Cr via right issue

Economic Times  

IPO-bound financial services player Fino PayTech is looking to raise about INR 74.75 crore by issuing 29,66,470 crore equity shares to eligible shareholders via a rights issue at INR 252 per share. The company is offering one equity share for every 34 shares held by shareholders as on the record date - August 27, 2021. Fino Paytech is engaged in providing technology-based solutions and services related to financial inclusion. For FY21, Fino Paytech reported a net loss of INR 52.41, compared to a net loss of INR 22.19 crore in the previous fiscal. The company reported a consolidated revenue of INR 860.37 crore, compared to INR 852.92 crore in the previous year. Bharat Petroleum holds 22.91 per cent stake in Fino Paytech, whereas International Finance Corporation has 7.79% stake in the company. LIC of India, Indian Bank, Union Bank of India, ICICI Bank, ICICI Lombard General Insurance, ICICI Prudential Life Insurance and Exide Life Insurance also own considerable stakes in the company