Fusion Micro Finance Initial Public Offering (IPO) 1,104 crore is set to open for membership on November 2, 2022. The public issue will end on November 4, 2022.
Non-Banking Finance Company (NBFC) will sell its shares in the limit of 350-368 each.
Fusion Micro Finance IPO The issue involves the issuance of new equity shares of value 600 crore with the Offer for Sale (OFS) of 13,695,466 equity shares by the promoters and existing shareholders.
The issue involves issue of new equity shares of value 600 crore with Offer for Sale (OFS) of 13,695,466 Equity Shares, valued at Rs. 504 crore from the existing shareholders and promoters of the company. The new issue will be used to increase the capital base.
The minimum bid is for 40 equity shares and then in multiples thereof.
Those selling shares in the OFS include Devesh Sachdev (Founder and Chairman of MFI), his wife Mini Sachdev, two funds from Honey Rose Investment and Creation Investment Fusion, Dutch influence investor Oikocredit Ecumenical Development Co-operative Society and Global Financial Inclusion. Fund.
“Fusion is well positioned to deliver ROA/ROE on an ongoing basis barring any force majeure that disrupts the micro finance industry every few years. Fusion’s metrics are similar to those of the largest listed MFI players such as Credit Access. , while Fusion is priced at a whopping 45% discount in comparison. We recommend ‘subscribing’ to the issue,” said the brokerage firm run by Nirmal Bang.
The Premium (GMP) of Fusion Micro Finance Shares is 36 in the gray market today. The company’s shares are expected to be listed on the stock exchanges BSE and NSE on Tuesday, November 15, 2022.
The Premium (GMP) of Fusion Micro Finance Shares is 36 in the gray market today. The company’s shares are expected to be listed on the stock exchanges BSE and NSE on Tuesday, November 15, 2022.
Launched in 2010, Fusion Micro Finance provides financial services to underserved and underserved women in rural and peri-rural areas across India. Its Gross Asset Under Management (AUM) was 73.89 billion, up 59.6% from the year-ago quarter.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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