The promoter (Fino PayTech) is doing a buyback of Rs. 125 Cr. To recall, the IPO (of the bank) last year was mostly an OFS; the fresh issue of shares was much smaller.
Per the letter of offer, BPCL and the ICICI Bank group are the largest shareholders, each holding more than 20%.
The Letter of Offer is available on the Fino PayTech website.
Disc: Invested in the bank; views biased.
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