Fino Paytech Unlisted Shares
Company Profile
Fino Paytech Limited (CIN: U72900MH2006PLC162656) was incorporated on June 15, 2006, and is headquartered in Navi Mumbai. As a pioneering fintech platform, Fino Paytech integrates banking technology with an extensive service delivery network to serve banks, governments, insurers, microfinance institutions, and end customers across urban and remote India. Leveraging the business correspondent model, Fino Paytech digitizes customer onboarding, remittances, micro-pensions, and social benefit disbursements, ensuring financial inclusion for over 50 million customers.
Key Areas of Focus
- Digital Financial Services: Banking, remittance, micro-pension, insurance, and merchant payments via BC network.
- Fintech Solutions: Customer onboarding, POS devices, card management, and terminal management systems.
- Social Benefit Schemes: MGNREGS wage disbursement, social security pensions, and subsidy transfers.
- Technology Innovations: Secure Aadhaar-based authentication, interoperable platform, and API-driven integrations.
Business Operations and Market Position
Fino Paytech operates a pan-India BC network of 100,000+ touchpoints across 25,000+ villages. Its subsidiaries—Fino Payments Bank, Fino Finance, and Fino Trusteeship—complement the core business, expanding reach into banking and lending. With ₹1,291 crore consolidated revenue in FY 2023 and robust institutional backing from BPCL, ICICI Group, Blackstone, and IFC, Fino Paytech ranks among India’s leading fintech enablers.
Core Product Portfolio
- Business Correspondent Services: Cash-in, cash-out, account opening, remittances, and bill payments.
- Payments Bank: Deposit accounts, remittances, and merchant services under Fino Payments Bank.
- Lending & Trusteeship: Microcredit disbursement via Fino Finance; securitization/trust services via Fino Trusteeship.
- Technology Platforms: POS devices, card management system, mobile applications, and API ecosystems.
Operational Capabilities and Expansion Plans
Fino Paytech’s technology stack—powered by in-house POS devices and Aadhaar-enabled authentication—ensures sub-second transactions and interoperability. In FY 2023, the company processed 200 million transactions, up 25% YoY. Expansion plans include adding 50,000 BC points, enhancing digital loan disbursements, and scaling micro-pension coverage to 10 million beneficiaries by FY 2026.
Promoters & Management
| Name | Designation |
| Ashok Kini | Non-Executive Chairman & Independent Director |
| Apurva Joshi | Independent Director |
| Rajeev Deoras | Independent Director |
| Amit Jain | Whole-time Director |
| Sudeep Gupta | Whole-time Director |
| Manoj Heda | Nominee Director |
| Ramakrishna Gupta | Nominee Director |
Shareholding Patterns (As of 31-03-2023)
| Shareholder | Shares Held | Holding (%) |
| Bharat Petroleum Corporation Limited | 27,991,070 | 26.81 |
| ICICI Prudential Life Insurance Company Ltd | 10,833,198 | 10.38 |
| ICICI Bank Limited | 9,485,140 | 9.09 |
| Blackstone GPV Capital Partners (Mauritius) | 7,183,536 | 6.88 |
| HAV 3 Holdings (Mauritius) Limited | 7,130,737 | 6.83 |
| ICICI Lombard General Insurance Company Ltd | 5,984,658 | 5.73 |
| International Finance Corporation | 6,282,138 | 6.02 |
| Others | 36,005,436 | 28.26 |
| Total Outstanding Shares | 127,408,963 | 100.00 |
Company Fundamentals
| Metric | Details |
| Outstanding Shares | 127,408,963 |
| Face Value | ₹10 per equity share |
| ISIN | INE511I01011 |
| Lot Size | 100 shares |
| Paid-up Share Capital | ₹104.40 crore |
| Instruments in Nature of Equity | ₹22.79 crore |
| Registered Office | TTC Industrial Area, MIDC Turbhe, Navi Mumbai – 400705 |
| Incorporation Date | June 15, 2006 |
| Industry | Financial Technology & Business Correspondent Services |
Financials
Consolidated Income Statement (₹ Crores)
| Particulars | FY 2022-23 | FY 2021-22 |
| Revenue from Operations | 1,149.43 | 1,000.82 |
| Other Income | 141.87 | 49.81 |
| Total Income | 1,291.30 | 1,050.63 |
| Purchase of Services | 184.65 | 175.37 |
| Employee Benefits Expense | 170.69 | 155.59 |
| Finance Costs | 54.15 | 30.10 |
| Depreciation & Amortization | 50.44 | 43.75 |
| Other Expenses | 765.60 | 704.72 |
| Total Expenses | 1,229.00 | 1,102.47 |
| Profit Before Tax | 62.30 | -51.84 |
| Tax Expense | 12.19 | 1.31 |
| Profit After Tax | 50.11 | -53.15 |
| Earnings Per Share (Basic & Diluted) | 2.61 | -4.24 |
Balance Sheet (₹ Crores)
| Particulars | Mar 31 2023 | Mar 31 2022 |
| Non-Current Assets | ||
| Property, Plant & Equipment | 124.67 | 87.86 |
| Right-of-Use Assets | 30.19 | 34.72 |
| Intangible Assets | 20.43 | 8.97 |
| Investments | 54.89 | 43.30 |
| Other Non-Current Assets | 126.90 | 96.51 |
| Total Non-Current Assets | 357.08 | 271.36 |
| Current Assets | ||
| Inventories | 41.86 | 13.26 |
| Investments (Current) | 1,090.89 | 590.73 |
| Trade Receivables | 72.37 | 70.03 |
| Cash & Cash Equivalents | 399.32 | 1,057.47 |
| Other Current Assets | 211.09 | 101.86 |
| Total Current Assets | 1,815.53 | 1,833.35 |
| Total Assets | 2,172.61 | 2,104.71 |
| Equity & Liabilities | ||
| Equity Share Capital | 104.40 | 109.17 |
| Instruments Entirely Equity Nature | 22.79 | 23.83 |
| Other Equity | 373.11 | 1,005.54 |
| Total Equity | 500.30 | 1,138.54 |
| Non-Current Liabilities | ||
| Borrowings | 19.93 | 19.91 |
| Lease Liabilities | 27.63 | 32.54 |
| Provisions | 10.72 | 1.92 |
| Total Non-Current Liabilities | 58.28 | 54.37 |
| Current Liabilities | ||
| Borrowings | 434.80 | 270.80 |
| Trade Payables | 22.94 | 43.30 |
| Other Financial Liabilities | 1,415.40 | 863.53 |
| Other Current Liabilities | 24.08 | 30.59 |
| Provisions & Tax Liabilities | 19.81 | 29.58 |
| Total Current Liabilities | 1,917.03 | 1,237.80 |
| Total Equity & Liabilities | 2,475.61 | 2,430.71 |
Cash Flow Statement (₹ Crores)
| Particulars | FY 2022-23 | FY 2021-22 |
| Net Cash from Operating Activities | 387.09 | 217.39 |
| Net Cash from Investing Activities | -538.77 | 671.23 |
| Net Cash from Financing Activities | -506.48 | 23.34 |
| Net Change in Cash | -658.16 | 912.96 |
| Cash & Cash Equivalents (BOY) | 1,057.47 | 144.51 |
| Cash & Cash Equivalents (EOY) | 399.32 | 1,057.47 |
Annual Reports and Regulatory Compliance
Fino Paytech’s annual reports up to FY 2022-23 comply with Indian GAAP and SEBI guidelines. Audited by top firms, reports cover governance, risk management, technology frameworks, and social impact. Fino Payments Bank and Fino Finance filings adhere to RBI regulations, ensuring robust compliance across all subsidiaries.
IPO Preparations and Market Listing Plans
Fino Paytech has not announced an IPO as of mid-2025. However, its deleveraged balance sheet, profitable core operations, and growing BC network make it a strong candidate for future public offering. Strategic investors may anticipate an IPO once market conditions stabilize, creating an exit opportunity and price discovery.
FAQs – How to Buy or Sell Fino Paytech Unlisted Shares
How can I buy Fino Paytech Unlisted Shares?
Register on UnlistedShareBrokers, complete KYC with PAN, Aadhaar, and demat details, search “Fino Paytech Limited,” select your lot of 100 shares, and place a secure buy order.
What is the minimum lot size for Fino Paytech Unlisted Shares?
100 shares per transaction, subject to market availability and broker terms.
What documents are required for Fino Paytech Unlisted Shares transactions?
PAN card, Aadhaar card, Client Master Report (CMR), canceled cheque, and an active NSDL/CDSL demat account.
What is the current lock-in period for Fino Paytech Unlisted Shares?
Six months from acquisition, as per SEBI regulations for unlisted pre-IPO shares.
How are Fino Paytech Unlisted Shares transferred between accounts?
Via Delivery Instruction Slip (DIS)—submit offline to your DP or execute online e-DIS through your broker’s portal.
What are the current valuation metrics for Fino Paytech?
Based on FY 2023 earnings, shares trade on P/E ~15x and P/B ~4x, reflecting growth potential in fintech and BC services.
What makes Fino Paytech shares attractive for investment?
Leadership in digital financial inclusion, diversified revenue streams, strong institutional backing, and improving profitability turnaround.
What are the tax implications of Fino Paytech Unlisted Shares transactions?
Short-term gains (≤24 months) taxed at slab rates; long-term gains (>24 months) taxed at 20% with indexation benefits. Dividends taxed per personal income bracket.
Can I pledge Fino Paytech Unlisted Shares for loans?
Yes. Lenders typically accept quality unlisted shares as collateral, offering 50–70% loan-to-value based on share quality and liquidity.
What is the outlook for Fino Paytech’s IPO and exit opportunities?
Although no IPO is announced, robust BC network growth and profitable core operations pave the way for a potential listing, providing clear exit and liquidity for unlisted shareholders.
