Fino Payments Allots 4.1K Shares Under ESOP Scheme

SUMMARY

The startup said that its board approved the allotment of 4,100 equity shares at a face value of INR 10 each to eligible employees

With the fresh allotment, the issued, subscribed and paid-up equity share capital rose to INR 83,21,84,020 Cr from INR 83,21,43,020 Cr

Shares of the listed payments company rose as much as 2.8% to INR 206.85 apiece on the BSE intraday morning trade today

Fino Payments Bank’s board has approved an allotment of 4,100 equity shares under its employee stock option plan (ESOP).

As per the bank’s regulatory filing yesterday (March 4), the startup said that its board approved the allotment of 4,100 equity shares at a face value of INR 10 each to eligible employees upon exercise of vested options under the Fino Payments Bank Limited – Employee Stock Option Policy, 2023.

“The equity shares so allotted upon exercise of vested options pursuant to ESOP-2023, and it shall rank pari-passu with the existing equity shares of the bank,” the filing said.

With the fresh allotment, the issued, subscribed and paid-up equity share capital of the company has increased to INR 83,21,84,020 Cr from INR 83,21,43,020 Cr earlier.

Shares of the listed payments company rose as much as 2.8% to INR 206.85 apiece on the BSE intraday morning trade today (March 5), while its market capitalisation currently stands at INR 1,708.39 Cr (more than $196.1 Mn).

Based on the stock’s previous closing price of INR 201.30 per share, the newly allotted equity shares are worth INR 8.25 Lakh.

The stock is on its revival run, after recording its 52-week low of INR 200.20 per share, only a day ago.

Fino Payments’ shares ended the day’s trading session 2.3% higher at INR 206 apiece on the BSE.

This development comes more than a month after Fino Payments clarified about the customer defraud incident that arose from the initial complaints between May 2023 and June 2024. The company also shed more light on how the errant and now-terminated employees undertook the alleged fraud.

The company’s stock surge comes in the light of recovering India’s benchmark indices, where BSE Sensex closed 1.01% higher at 73,730.23, while Nifty 50 closed 1.15% up at 22,337.30, today, providing tempting buying opportunities even as the global trade uncertainty prevails.

On the financial front, the company reported a net profit of INR 23.11 Cr in the third quarter of fiscal year 2024-25 (Q3 FY25), up 1.3% from INR 22.80 Cr in the same quarter last year.

Meanwhile, its revenue’s biggest portion was from CASA (Current Account Savings Account), which brought in INR 111.6 Cr in the quarter with a margin of 50%. Further, revenue from Fino’s digital payment services, its UPI payments stack, grew 4X in the quarter to INR 109.7 Cr.