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Fusion Micro Finance IPO is a book build issue of ₹1,103.99 crores. The issue is a combination of fresh issue of 1.63 crore shares aggregating to ₹600.00 crores and offer for sale of 1.37 crore shares aggregating to ₹503.99 crores.
Fusion Micro Finance IPO bidding started from Nov 2, 2022 and ended on Nov 4, 2022. The allotment for Fusion Micro Finance IPO was finalized on Nov 10, 2022. The shares got listed on BSE, NSE on Nov 15, 2022.
Fusion Micro Finance IPO price band is set at ₹368.00 per share . The lot size for an application is 40. The minimum amount of investment required by an retail is ₹14,000 (40 shares). The lot size investment for sNII is 14 lots (560 shares), amounting to ₹2,06,080, and for bNII, it is 68 lots (2,720 shares), amounting to ₹10,00,960.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹350 to ₹368 per share |
| Issue Price Final | ₹368 per share |
| Lot Size | 40 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,99,99,813 shares (aggregating up to ₹1,103.99 Cr) |
| Fresh Issue | 1,63,04,347 shares (aggregating up to ₹600.00 Cr) |
| Offer for Sale | 1,36,95,466 shares of ₹10 (aggregating up to ₹503.99 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 8,43,26,388 shares |
| Share Holding Post Issue | 10,06,30,735 shares |
Fusion Micro Finance IPO offers total 2,99,99,813 shares. Out of which 1,49,99,906 (50.00%) allocated to QIB, 59,99,963 (20.00%) allocated to QIB, 44,99,972 (15.00%) allocated to NII, 1,04,99,935 (35.00%) allocated to RII and 89,99,943 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,49,99,906 (50.00%) | NA |
| − Anchor Investor Shares Offered | 89,99,943 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 59,99,963 (20.00%) | NA |
| NII (HNI) Shares Offered | 44,99,972 (15.00%) | NA |
| − bNII > ₹10L | 29,99,981 (10.00%) | 5,357 |
| − sNII < ₹10L | 14,99,991 (5.00%) | 2,678 |
| Retail Shares Offered | 1,04,99,935 (35.00%) | 2,62,498 |
| Total Shares Offered | 2,99,99,813 (100.00%) |
Fusion Micro Finance IPO raises ₹331.20 crore from anchor investors. Fusion Micro Finance IPO Anchor bid date is November 1, 2022. Fusion Micro Finance IPO Anchor Investors list
| Bid Date | November 1, 2022 |
| Shares Offered | 89,99,943 |
| Anchor Portion Size (In Cr.) | 331.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 10, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 8, 2023 |
Fusion Micro Finance IPO opens on November 2, 2022, and closes on November 4, 2022.
| IPO Open Date | Wed, Nov 2, 2022 |
| IPO Close Date | Fri, Nov 4, 2022 |
| Tentative Allotment | Thu, Nov 10, 2022 |
| Initiation of Refunds | Fri, Nov 11, 2022 |
| Credit of Shares to Demat | Mon, Nov 14, 2022 |
| Tentative Listing Date | Tue, Nov 15, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 4, 2022 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹14,720 |
| Retail (Max) | 13 | 520 | ₹1,91,360 |
| S-HNI (Min) | 14 | 560 | ₹2,06,080 |
| S-HNI (Max) | 67 | 2,680 | ₹9,86,240 |
| B-HNI (Min) | 68 | 2,720 | ₹10,00,960 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹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...
| Listing Date | November 15, 2022 |
| BSE Script Code | 543652 |
| NSE Symbol | FUSION |
| ISIN | INE139R01012 |
| Final Issue Price | ₹368 per share |
| BSE Listing Group | B |
Fusion Micro Finance Ltd.
H-1, C Block,
Community Centre, Naraina Vihar,
New Delhi, 110028
New Delhi, New Delhi
Phone: +91- 011-46646600
Email: companysecretary@fusionmicrofinance.com
Website: https://fusionmicrofinance.com/
MUFG Intime India Pvt.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 2,99,99,813 equity shares of the face value of ₹10 aggregating up to ₹1,103.99 Crores. The issue is priced at ₹368 per share. The minimum order quantity is 40.
The IPO opens on November 2, 2022, and closes on November 4, 2022.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹14,720.
You can apply in Fusion Micro Finance IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Fusion Micro Finance IPO listing date is on Tuesday, November 15, 2022.
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