Fusion MicroFinance IPO Subscription Status: Day 2 Live Updates
Fusion MicroFinance IPO Subscription Status: Day 2 Live Updates
The IPO was subscribed 0.16 times or 16% as of 11 a.m. on Nov. 3, led by non-institutional investors
Subscription in Fusion MicroFinance Ltd. continued on the second day of its maiden public offering on Thursday, as it looks to raise up to Rs 1,100 crore.The IPO was subscribed 0.07 times on the first day. The bidding was led by non-institutional investors.The Warburg Pincus-backed microfinance lender is issuing fresh stocks worth Rs 600 crore and a secondary sale of 1.37 crore shares through the initial public offering.Issue DetailsIPO Opens: Nov. 2.IPO Closes: Nov. 4.Fresh Issue: Rs 600 crore.Face Value: Rs 10 apiece.Offer For Sale: 1.37 crore shares.Price Band: Rs 350-368.Book Running Lead Managers: ICICI Securities, CLSA India, IIFL Securities, JM Financial.The selling shareholders of the company include:Devesh Sachdev (6,50,000 shares).Mini Sachdev (1,00,000 shares).Honey Rose Investments (14,00,000 shares).Creation Investments Fusion (14,00,000 shares).Oikocredit Ecumenical Development Cooperative Society (66,06,375 shares).Global Impact Funds SCA (35,39,091 shares).The New Delhi-headquartered microfinance company intends to use the net proceeds from the fresh issuance to augment its capital base.As of June 30, the company's capital adequacy ratio stood at 21.13%, while tier-1 capital ratio was at 19.45%.Continue Reading. Read more on Markets by BloombergQuint.