Fino Payments Bank board approves increase in authorized share capital; Stock gains 1%

24 Mar 2022 , 01:12 PM

The Board of Directors of the Fino Payments Bank Limited at its meeting held on Wednesday, March 23, 2022, has considered and approved the increase in Authorised Share Capital of the Bank from the existing Authorised Share Capital of Rs. 85,00,00,000/- divided into 8,50,00,000 Equity Shares having face value of Rs. 10/- each to Rs. 110,00,00,000/- divided into 11,00,00,000 Equity Shares having face value of Rs. 10/- each by creation of additional 2,50,00,000 Equity Shares having face value of Rs. 10/- each aggregating to Rs25,00,00,000 ranking pari-passu with the existing equity shares of the Bank, subject to approval by Reserve Bank of India and shareholders of the Bank.

At around 1:14 PM, Fino Payments Bank was trading at Rs283.70 apiece up by Rs2.7 or 0.96% from its previous closing of Rs281 apiece on the BSE.

The scrip has touched a high and low of Rs284.90 and Rs279.30 respectively so far today. The current market cap of the company is Rs2,338.32cr.