Fusion Microfinance IPO: Fusion Microfinance’s three-day subscription period for the initial public offering (IPO) opened on November 2 and ended on November 4. People are now looking out for the IPO allotment date, which is most likely on November 10, 2022. According to the subscription status for Fusion Microfinance’s IPO, the 600 crores public offering has received 2.95 times subscriptions while its retail component, received 0.51 times subscriptions. The IPO is proposed to be listed on both the NSE and the BSE. Investors had the option to make a minimum bid of 40 shares and then in multiples of that number.
Fusion Microfinance IPO: Subscription Status
In the qualified institutional buyers(QIB) category, the IPO was, however, subscribed 8.59 times. The QIBs are said to have a significant role in an IPO. For qualified institutional buyers, 50% of the offer is set aside, followed by 15% for non-institutional investors and the remaining 35% for individual investors Any IPO’s QIB part needs to receive at least 90% subscription in order to be successful.
Fusion Microfinance IPO: GMP Today
As per market observers, Fusion Microfinance shares are commanding a premium (GMP) of Rs 6 in the grey market today.
Fusion Microfinance IPO: Share Allotment Process
The finalization of the basis of share allotment of Fusion Microfinance IPO is expected to take place this week on Thursday, November 10, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Monday, November 14, 2022. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar’s website here or on the BSE website here.
Through the issuance at a price range of Rs. 350-368 per share, Fusion Microfinance hopes to raise Rs. 1,104 crore. The offer consists of a fresh issuance for Rs 600 crore and an offer for sale for the remaining Rs 504 crore. While the money from the offer for sale will go to the selling shareholders, the goal of the new issuance is to boost the company’s capital base.
The fastest gross loan portfolio compound annual growth rate (CAGR) of 37 per cent between FY20 and FY22 among listed NBFC-MFIs in India is held by Fusion Microfinance, which was founded in 2010. Its entire assets under administration as of June 2022 were Rs 7,389 crore, with rural areas making up 91 per cent of that amount.
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