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Fino Payments Bank, which made the list of flop IPOs of 2021, is set to rise. All experts estimate that the stock will yield returns of up to 28 percent. For this reason, the experts recommend a strong buy.
What is the price now: The BSE Index share price is Rs 236.60 down 3.37% from the previous day. At the same time, the market capitalization is close to Rs 1970 crore. Let us tell you that the share price had risen to Rs 422 in January 2022 which is its highest level in 52 weeks. There, the share price fell to a 52-week low of Rs. 182.55 on November 17, 2022.
What was the issue price: The issue price of Fino Payments Bank IPO ranged from Rs 560 to Rs 577 per share. In 2021, the IPO opened on October 29 and closed on November 2. The company’s shares were listed at a discount. So far, this share has not reached its issue price.
Here’s the plan: There have also been reports recently that the bank is considering converting into a Small Finance Bank (SFB) and internal talks are ongoing. Recently, a bank official had said that Small Finance Bank would approach RBI for the license in due course.
