IPO update: Fino Payments Bank

Fino Payments Bank came out with its IPO about two months ago. You can read Value Research's analysis of the IPO here. This follow-up article focuses on the IPO's performance, post-IPO events, and changes in its valuation since then. Our analysis of the IPO We gave a score of six out of 11 to this company when it came out with its IPO. As the name suggests, Fino Payments Bank is a payments bank. It offers a diverse range of payment-focussed financial products and digital services. Being a payments bank, it cannot undertake lending activities and is required to have a minimum of 25 per cent of its physical access points, including business correspondents in rural areas. In essence, the company is a fintech firm that operates on an asset-light business model where each banking outlet (merchant) serves the community's banking and financial needs. The primary source of revenue for the Bank is the fees and commis