Payments banks cashing in on demonetisation and moving towards digital cash

Payments banks are upbeat after the government’s announcement of demonetisation of Rs 500 and Rs 1,000 notes, as they feel this move will definitely improve the digital payments system in the country. Founded in 2006, FINO PayTech is a financial inclusion software solutions and services company.

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“Post the introduction of new notes too, there will be less availability of cash for customers prompting a shift to digital channels for making payments. From this perspective, entities that are involved in electronic payments such as banks, wallets and card issuers, will benefit. Going forward, this will only get strengthened,” says FINO PayTech CEO and MD Rishi Gupta. A payments technology company, FINO PayTech has received the RBI’s in-principle approval to start a payments bank.

FINO PayTech has ICICI Bank and BPCL as investors and partners. It also has the largest private equity firms globally — Blackstone and IFC — as investors. The company is in the process of getting regulatory approvals for new investors. Once they are in place, we will apply for a formal banking licence. Post that, it will take us two to three months to launch.

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Shopping list of niche unlisted companies ahead of IPO

 As secondary markets gain momentum, many companies operating in niche business are looking to tap primary market for raising funds through initial public issue (IPOs). Unlisted shares of e-commerce, payments banks and general insurance companies are in fancy.

Insurance is an age-old and proven business and with rising per capital incomes, there will be more need for insurance cover. Shares of life insurance companies ICICI Prudential Life Insurance and HDFC Standard Life Insurance are seeing high demand from investors. Shares of general insurance firm ICICI Lombard are also being highly traded.

It is not only insurance companies but a whole host of new segments will be entering the market soon. These include leading stock exchange Bombay Stock Exchange, a mutual fund UTI Asset Management Company, an e-commerce company MSTC and payments bank FINO Paytech

Investors can also draw comfort, especially in the case of new-age businesses, from the presence of private equity (PE) and venture capitalist (VC) investors. Their presence usually indicates a lot of due-diligence has already been done on the company, it is being mentored, and is likely to have a high quality of corporate governance.

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FINO Paytech pre-IPO investment opportunity

FINO Paytech is a leading provider of last mile banking solutions. In August 2015, the company got a payment banking license from RBI. The payments bank is expected to be operational before the end of this calendar year.

In July 2016, Government-owned oil marketing company Bharat Petroleum Co Ltd (BPCL) picked up a 21% stake in FINO Paytech for Rs 251 crore in an all-cash deal. This deal values FINO Paytech at around 1250 crores or aprox Rs 175 per share.

There is currently a unique and attractive pre-IPO investment opportunity available in this company. For buying shares of FINO Paytech or any other companies, please call on 8108234400 or place your order here

Fino PayTech expects to raise between Rs 400 crore and Rs 500 crore which will simultaneously dilute the foreign shareholding in the company to below 49% to comply with the RBI licensing conditions. Private equity investors, banks, insurance, technology, retail and non-banking finance companies are showing interest in picking up stake.

FINO PayTech is an institutional investor driven company owned by international and Indian investors. Foreign shareholding in FINO currently stands at 70%. Major investors in the company include ICICI Group (16%), Headland Capital Partners (15%), International Finance Corp (10%), Intel Capital (10%) and Blackstone (10%). Its other shareholders are Corporation Bank, Union Bank, Indian Bank and Life Insurance Corporation.

Recently there are news reports that ICICI Bank would be its partner bank for support in deposits, cash management, manpower and technology. Fino PayTech already offers a variety of other services, including recharges for mobiles, utility bill payments, ticket booking, insurance distribution, and assisted online shopping, among others.

The fast-growing remittances on the retail platform (which had doubled in the past five months to about Rs 300 crore every month) augurs well for FINO Paytech.