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Fusion Micro Finance IPO is a book built issue of Rs 1,103.99 crores. The issue comprises of fresh issue of Rs 600.00 crore and offer for sale of 1.37 crore shares.
Fusion Micro Finance IPO bidding started from November 2, 2022 and ended on November 4, 2022. The allotment for Fusion Micro Finance IPO was finalized on Thursday, November 10, 2022. The shares got listed on BSE, NSE on November 15, 2022.
Fusion Micro Finance IPO price band is set at ₹350 to ₹368 per share. The minimum lot size for an application is 40 Shares. The minimum amount of investment required by retail investors is ₹14,720. The minimum lot size investment for sNII is 14 lots (560 shares), amounting to ₹206,080, and for bNII, it is 68 lots (2,720 shares), amounting to ₹1,000,960.
ICICI Securities Limited, Clsa India Private Limited, Iifl Securities Ltd and Jm Financial Limited are the book running lead managers of the Fusion Micro Finance IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Fusion Micro Finance IPO RHP for detailed information.
| IPO Date | November 2, 2022 to November 4, 2022 |
| Listing Date | November 15, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹350 to ₹368 per share |
| Lot Size | 40 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,103.99 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 13,695,466 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 84,326,388 |
| Share holding post issue | 100,630,735 |
Fusion Micro Finance IPO offers 21,375,525 shares. 5,956,362 (27.87%) to QIB, 4,625,749 (21.64%) to NII, 10,793,414 (50.49%) to RII. 269,835 RIIs will receive minimum 40 shares and 2,753 (sNII) and 5,506 (bNII) will receive minimum 560 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 5,956,362 (27.87%) | NA |
| NII (HNI) Shares Offered | 4,625,749 (21.64%) | |
| bNII > ₹10L | 3,083,832 (14.43%) | 5,506 |
| sNII < ₹10L | 1,541,917 (7.21%) | 2,753 |
| Retail Shares Offered | 10,793,414 (50.49%) | 269,835 |
| Total Shares Offered | 21,375,525 (100%) |
Fusion Micro Finance IPO opens on November 2, 2022, and closes on November 4, 2022.
| IPO Open Date | Wednesday, November 2, 2022 |
| IPO Close Date | Friday, November 4, 2022 |
| Basis of Allotment | Thursday, November 10, 2022 |
| Initiation of Refunds | Friday, November 11, 2022 |
| Credit of Shares to Demat | Monday, November 14, 2022 |
| Listing Date | Tuesday, November 15, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 4, 2022 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹14,720 |
| Retail (Max) | 13 | 520 | ₹191,360 |
| S-HNI (Min) | 14 | 560 | ₹206,080 |
| S-HNI (Max) | 67 | 2,680 | ₹986,240 |
| B-HNI (Min) | 68 | 2,720 | ₹1,000,960 |
| Lot Size Calculator | |||
The promoters of the Company, namely, Devesh Sachdev, Creation Investments Fusion, LLC, Creation Investments Fusion II, LLC and Honey Rose Investment Ltd
| Share Holding Pre Issue | 85.57% |
| Share Holding Post Issue | 58.10% |
Incorporated in 1994, Fusion Micro Finance Ltd is engaged in providing financial services to women entrepreneurs belonging to the economically and socially deprived section of the society. The company's responsibilities are not restricted merely to financial support, but also to acquaint the clients to manage their finances by disseminating Financial Literacy to them.
Fusion Micro Finance Ltd is one of the youngest companies among the top 10 NBFC-MFIs in India in terms of AUM as of June 30, 2022.
The company have achieved a significant footprint across India, where the company have extended its reach to 2.90 million active borrowers which were served through our network of 966 branches and 9,262 permanent employees spread across 377 districts in 19 states and union territories in India, as of June 30, 2022.
The company's business runs on a joint liability group-lending model, wherein a small number of women form a group (typically comprising five to seven members) and guarantee one another's loans.
As of June 30, 2022 and March 31, 2022, 2021 and 2020, our total AUM was Rs. 73,890.23 million, Rs. 67,859.71 million, Rs. 46,378.39 million and Rs. 36,065.24 million, respectively.
Competitive Strengths:
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 4239.99 | 730.31 | 69.61 | 1198.89 | 2973.68 |
| 31-Mar-21 | 5837.93 | 873.09 | 43.94 | 1246.36 | 4432.25 |
| 30-Jun-21 | 5824.87 | 264.96 | 4.41 | 1251.65 | 4422.65 |
| 31-Mar-22 | 7290.48 | 1201.35 | 21.76 | 1337.95 | 5775.81 |
| 30-Jun-22 | 7615.24 | 360.45 | 75.1 | 1416.46 | 6009.97 |
| Amount in ₹ Crore | |||||
The market capitalization of Fusion Micro Finance IPO is Rs 3703.21 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 12.33 |
The Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
Objects of the Fresh Issue :
1. Augment the capital base of the Company.
[Dilip Davda] Over the years, the company has gained credentials to be among the first two MFIs in India. Though it marked growth in top lines, it posted declining profits amidst the pandemic, natural calamities, and expansion spending from FY20 to FY22. It is on a recovery path as indicated by Q1 of FY23 and based on these earnings, the issue is lucratively priced. Investors may consider an investment with a medium to long-term perspective. Read detail review...
The Fusion Micro Finance IPO is subscribed 2.95 times on November 4, 2022 7:00:00 PM. The public issue subscribed 0.51 times in the retail category, 8.59 times in the QIB category, and 1.38 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 8.59 |
| NII | 1.38 |
| bNII (bids above ₹10L) | 1.52 |
| sNII (bids below ₹10L) | 1.09 |
| Retail | 0.51 |
| Total | 2.95 |
| Listing Date | November 15, 2022 |
| BSE Script Code | 543652 |
| NSE Symbol | FUSION |
| ISIN | INE139R01012 |
| Final Issue Price | ₹368 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹368.00 |
| ₹360.50 |
| ₹321.40 |
| ₹364.35 |
| ₹324.90 |
| NSE |
|---|
| ₹368.00 |
| ₹359.50 |
| ₹321.10 |
| ₹364.80 |
| ₹324.80 |
Fusion Micro Finance Limited
H-1, C Block,
Community Centre, Naraina Vihar,
New Delhi, 110028
Phone: +91- 011-46646600
Email: companysecretary@fusionmicrofinance.com
Website: https://fusionmicrofinance.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: fusion.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Fusion Micro Finance IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹1,103.99 Crores. The issue is priced at ₹350 to ₹368 per share. The minimum order quantity is 40 Shares.
The IPO opens on November 2, 2022, and closes on November 4, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Fusion Micro Finance IPO using UPI as a payment gateway. Zerodha customers can apply in Fusion Micro Finance IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Fusion Micro Finance IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Fusion Micro Finance IPO opens on November 2, 2022 and closes on November 4, 2022.
Fusion Micro Finance IPO lot size is 40 Shares, and the minimum amount required is ₹14,720.
You can apply in Fusion Micro Finance IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Fusion Micro Finance IPO will be done on Thursday, November 10, 2022, and the allotted shares will be credited to your demat account by Monday, November 14, 2022. Check the Fusion Micro Finance IPO allotment status.
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