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Fino Payments zooms 36% in 2 days as Capri Global buys 1.3 mn shares

On Wednesday November 23, Capri Global Holdings Private Limited bought 1.32 million shares representing 1.59 per cent of total equity of Fino Payments Bank via open market deals.

Buzzing stocks | Fino Payments Bank | Market trends

SI Reporter  |  Mumbai 

Fino Payments Bank
Fino Payments Bank

Shares of rallied 13 per cent to Rs 262.70 on the National Stock Exchange (NSE) in Thursday’s intra-day trade on the back of heavy volumes.

In the last two trading sessions, shares of fintech company have zoomed 36 per cent. On November 23, Wednesday, Holdings Private Limited bought 1.32 million shares representing 1.59 per cent of total equity of the company via open market deals. bought shares at price of Rs 228.77 per share via block deal on the NSE, the exchange data shows. The names of the sellers were not disclosed.

At 10:23 am, traded 10 per cent higher at Rs 253.80, as compared to 0.53 per cent rise in the Nifty 50. A combined 4.73 million shares changed hands at the counter on the NSE and BSE.

made its stock market debut on November 12, 2021. Despite the sharp surge in past two day’s, the stock still trades at a 54 per cent discount when compared with its issue price of Rs 577 per share. The stock hit an all-time low of Rs 182.55 on November 17, 2022.

Fino Payments Bank is a wholly owned subsidiary of FINO PayTech, which is engaged in providing business and banking technology platform based solutions and services related to financial inclusion.

Fino Payments Bank is backed by marquee investors like Bharat Petroleum, ICICI group, Blackstone, IFC, Intel and LIC among others. Frugal innovation is the key which has given the fintech a leadership position at the middle of the pyramid, which primarily constitutes emerging India customers.

The Mumbai-based bank operates on asset light business model that principally relies on fee and commission based income generated from merchant network and strategic commercial relationships. The bank’s platform facilitated more than 67 crore transactions with a gross transaction value of over Rs 1.87 trillion crore in the financial year 2021-22.

Capital is engaged in the business of providing loans to Micro, Small and Medium Enterprises (MSMEs), providing long term finance for construction of residential houses in India, retail Lending in India and in providing ancillary services related to the said business activities.

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First Published: Thu, November 24 2022. 10:42 IST