Bookbuilding IPO | ₹1,104 Cr | Listed at BSE, NSE | Wed, Nov 2, 2022 - Fri, Nov 4, 2022
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 per share. The lot size for an application is 40. The minimum amount of investment required by an retail is ₹14,720 (40 shares) (based on upper price). 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 Open
Wed, Nov 2, 2022
IPO Close
Fri, Nov 4, 2022
Issue Price
₹368 per share
Market Cap (Pre-IPO)
₹3,703.21 Cr
| IPO Date | 2 to 4 Nov, 2022 |
| Listed on | Tue, Nov 15, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹350 to ₹368 |
| Issue Price | ₹368 per share |
| Lot Size | 40 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,99,99,813 shares (agg. up to ₹1,104 Cr) |
| Fresh Issue | 1,63,04,347 shares (agg. up to ₹600 Cr) |
| Offer for Sale | 1,36,95,466 shares of ₹10 (agg. up to ₹504 Cr) |
| Share Holding Pre Issue | 8,43,26,388 shares |
| Share Holding Post Issue | 10,06,30,735 shares |
| BSE Script Code / NSE Symbol | 543652 / FUSION |
| ISIN | INE139R01012 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 40 shares and in multiples thereof.
| 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 |
Fusion Micro Finance IPO raises ₹331.20 crore from anchor investors. Fusion Micro Finance IPO Anchor bid date is November 1, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Nov 1, 2022 |
| Shares Offered | 89,99,943 |
| Anchor Portion (₹ Cr.) | 331.20 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Dec 10, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Feb 8, 2023 |
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 | 30 Jun 2022 | 31 Mar 2022 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 7,615.24 | 7,290.48 | 5,824.87 | 5,837.93 | 4,239.99 |
| Total Income | 360.45 | 1,201.35 | 264.96 | 873.09 | 730.31 |
| Profit After Tax | 75.10 | 21.76 | 4.41 | 43.94 | 69.61 |
| NET Worth | 1,416.47 | 1,337.95 | 1,251.65 | 1,246.36 | 1,198.89 |
| Total Borrowing | 6,009.97 | 5,775.81 | 4,422.65 | 4,432.25 | 2,973.69 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Augment the capital base of the Company | 569.37 |
| KPI | |
|---|---|
| ROE | 1.68 |
| Debt/Equity | 1.20 |
| RoNW | 1.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.67 | |
| P/E (x) | 12.33 | |
| Promoter Holding | 85.57% | 58.10% |
| Market Cap | ₹3,703.21 Cr. |
The Fusion Micro Finance IPO is subscribed 2.95 times on November 4, 2022 7:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 8.59 | 59,56,362 | 5,11,52,560 |
| NII | 1.38 | 46,25,749 | 63,62,800 |
| bNII (bids above ₹10L) | 1.52 | 30,83,832 | 46,82,400 |
| sNII (bids below ₹10L) | 1.09 | 15,41,917 | 16,80,400 |
| Retail | 0.51 | 1,07,93,414 | 55,20,680 |
| Total | 2.95 | 2,13,75,525 | 6,30,36,040 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission) | 24.10 |
| 2 | Brokerage, selling commission, bidding charges, processing fees and bidding charges for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs | 2.60 |
| 3 | Advertising and marketing expenses for the Offer | 7.40 |
| 4 | Listing fees, SEBI filing fees, BSE & NSE processing fees, book building software fees | 4.50 |
| 5 | Other regulatory expenses | 0.53 |
| 6 | Printing and stationery expenses | 2.38 |
| 7 | Fees payable to the legal counsel | 7.55 |
| 8 | Fees payable to other advisors to the Offer | 5.00 |
| 9 | Miscellaneous | 2.31 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹368.00 | ₹368.00 |
| Open | ₹360.50 | ₹359.50 |
| Low | ₹321.40 | ₹321.10 |
| High | ₹364.35 | ₹364.80 |
| Last Trade | ₹324.90 | ₹324.80 |
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 ₹1,104 Crores. The issue is priced at ₹368 per share. The minimum order quantity is 40.
The IPO opens on Wed, Nov 2, 2022, and closes on Fri, Nov 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 Wed, Nov 2, 2022 and closes on Fri, Nov 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 Mon, Nov 14, 2022. Check the Fusion Micro Finance IPO allotment status.
The Fusion Micro Finance IPO listing date is on Tue, Nov 15, 2022.
