Fusion Micro Finance IPO: Issue subscribed nearly 3 times on final day led by QIBs

The Rs 1,103.99 crore offer received bids for over 6.30 crore (6,30,35,880) shares against the issue size of over 2.13 crore (2,13,75,525) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 8.59 times, while the portion for non institutional investors was subscribed 1.38 times and that of retail individual investors (RIIs) was subscribed just around 51 per cent or 0.51 times, the data showed.

Fusion Micro Finance IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 13,695,466 equity shares by promoters and existing shareholders. The net proceeds from the fresh issue will be used to augment the capital base of the company.

The 3-day IPO opened for subscription on Wednesday, November 2, 2022, and concluded at 5 pm today. It has a price band of Rs 350-368 per share.

The company raised over Rs 331 crore (Rs 3,31,19,79,024) from 17 anchor investors ahead of the IPO.

Fusion Micro Finance claims to provide financial services to underserved women across India in order to facilitate their access to greater economic opportunities.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for DCX Systems is expected to take place on Thursday, November 10, 2022, as per the information provided in the red herring prospectus (RHP).

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