Let f be an elliptic modular form and p an odd prime that is coprime to the level of f. We study the link between divisors of the characteristic ideal of the p-primary fine Selmer group of f over the cyclotomic $\mathbb {Z}_p$ extension of $\mathbb {Q}$ and the greatest common divisor of signed Selmer groups attached to f defined using the theory of Wach modules. One of the key ingredients of our proof is a generalisation of a result of Wingberg on the structure of fine Selmer groups of abelian varieties with supersingular reduction at p to the context of modular forms.