October 29, 2021 - November 2, 2021

Fino Payments Bank IPO Review & Recommendations

Hem Securities, Marwadi Shares and Finance Ltd, Nirmal Bang, InvestorGain.com and Ventura Securities Limited have given "Apply" recommendation to Fino Payments Bank IPO. Arun Kejriwal and Dilip Davda have given "May Apply" recommendation to Fino Payments Bank IPO. Angel One, Ashika Research, Axis Capital, Capital Market, HDFC Securities Limited, ICICI Securities, Reliance Securities and Religare Broking Limited have "Neutral" view about the IPO. Arihant Capital Markets Ltd recommend to "Avoid" the IPO.

Fino Payments Bank IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	5	2	8	1	0
%	31.25	12.50	50.00	6.25	0.00

Fino Payments Bank IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Angel One	Neutral
Arihant Capital Markets Ltd	Avoid
Arun Kejriwal	May Apply
Ashika Research	Neutral
Axis Capital	Neutral
Capital Market	Neutral
Dilip Davda	May Apply
HDFC Securities Limited	Neutral
Hem Securities	Apply
ICICI Securities	Neutral
Marwadi Shares and Finance Ltd	Apply
Nirmal Bang	Apply
Reliance Securities	Neutral
Religare Broking Limited	Neutral
InvestorGain.com	Apply
Ventura Securities Limited	Apply

Fino Payments Bank IPO Capital Market Rating

The Captial Market (CapitalMarket.com) rating for Fino Payments Bank IPO is 40. Their analysis recommends Avoid, however active risk seekers can try for the IPO.

Reviewer	Rating Score	Rating
Capital Market	40	Avoid, however active risk seekers can try

Fino Payments Bank IPO Review by Dilip Davda (May apply)

[Dilip Davda] The company is a novel technology company in the financial sector. It has established its play and enjoys a niche place. Perhaps due to such status, it is trying its maiden float with fancy pricing which is exorbitant on all counts. Though it has turned the corner for the last three quarters, its carried forward losses remain a major concern. For the last three fiscals, it has posted an average negative earnings and hence it has a negative P/E. Considering all these, risk seeker/cash surplus investors may consider investment for the long term. Read detail review...

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