Mumbai: Fino Payments Bank Limited has informed the stock exchanges that there has been no deviation or variation in the utilization of funds raised through its Initial Public Offering (IPO) for the quarter ended December 31, 2025. The statement, a mandatory disclosure under SEBI regulations, was reviewed and approved by the bank's Audit Committee on January 29, 2026.
Key Details of the IPO Fund Utilization (as of December 31, 2025):
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Date of Fund Raising: November 09, 2021
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Total Amount Raised: ₹300.00 Crores
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Net Proceeds (after share issue expenses): ₹283.36 Crores
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Object of the Issue: Augmentation of the Bank’s Tier-1 capital base to meet future capital requirements.
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Utilization Status: The bank has confirmed that the entire net proceeds of ₹283.36 Crores have been fully utilized as per the stated object of the offer, primarily for the augmentation of the bank's technology infrastructure.
Regulatory Compliance & Disclosure:
This quarterly statement was filed pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee, after its review, affirmed that there was no deviation or variation in the use of the IPO funds. The disclosure is also available on the bank's official website.
Background:
Fino Payments Bank, which went public in November 2021, raised funds to strengthen its capital base and invest in technology to support its growth and future capital requirements. The consistent adherence to the stated utilization plan underscores the bank's commitment to regulatory compliance and transparent governance.
The bank's communication to the exchanges was signed by Mr. Basavraj Loni, Company Secretary & Compliance Officer.