Fino Payments Bank IPO - Huge Opportunity From Digital Payments; Valuations Appear Pricey: Reliance Securities
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Reliance Securities' IPO Report
Fino Payments Bank Ltd., incorporated in 2017, is a growing fintech company, offering a wide portfolio of digital financial products and services in India.
The company has a pan-India distribution network and its major products and services include:
current accounts and savings accounts,
issuance of debit card and related transactions,
facilitating domestic remittances,
open banking functionality (through their application programming interface),
withdrawing and depositing cash (via microATM or Aadhaar Enabled Payment System, and
cash management services.
Fino Payments Bank’s merchants facilitate it in cross-selling other financial products and services such as third-party gold loans, insurance, bill payments and recharges.
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