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Fino Payments Bank to raise up to Rs 200 cr via equity in FY18

Firm to utilise funds to further its expansion plans

Fino Payments Bank
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Source: www.finopaytech.com

Nikhat Hetavkar Mumbai
Fino Payments Bank will raise up to Rs 200 crore in capital from a fresh set of investors in this financial year to fund its network expansion plans.

Rishi Gupta, its managing director and chief executive, said the bank is looking to bag investments within the Rs 150-200 crore range to back its expansion plans.

In the medium term, that is within two to three years, the bank would take steps in favour of listing itself on the exchanges to meet the regulatory conditions set out in the banking license. The exact timing for listing is linked to the bank