Home / Markets / Ipo /  Fusion Microfinance IPO: GMP, share allotment, listing date details here

The Initial Public Offering (IPO) of Fusion Micro Finance was subscribed 2.95 times on Friday, the last day of subscription. The 1,104-crore IPO received bids for 6,30,36,040 shares against 2,13,75,525 shares on offer, as per data available with the NSE.

The quota meant for Qualified Institutional Buyers (QIBs) received 8.59 times subscription, while the non-institutional investors category was subscribed 1.38 times and Retail Individual Investors (RIIs) 51 per cent.

As per market observers, Fusion Microfinance shares are commanding a premium (GMP) of 6 in the grey market today. The shares of the company are expected to list on stock exchanges BSE and NSE on Tuesday, November 15, 2022.

The finalization of basis of share allotment of Fusion Microfinance IPO is expected to take place this week on Thursday, November 10, 2022 and if allotted, then the credit of shares to demat account of bidders will be done on Monday, November 14, 2022. The registrar for this IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on the registrar's website here or on the BSE website here.

Fusion Microfinance IPO had a fresh issue of up to 600 crore and an offer for sale of up to 1,36,95,466 equity shares. It had a price range of 350-368 a share. On Tuesday, Fusion Micro Finance said it has raised a little over 331 crore from anchor investors. Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm.

The New Delhi-based microfinance company claims to provide financial services to underserved women across India in order to facilitate their access to greater economic opportunities. The company uses a joint liability group (JLG) model, developed by Grameen Bank in Bangladesh, to give loans of up to 50,000. It is one of the youngest companies in terms of getting an NBFC-MFI license and among the top NBFC-MFIs in India in terms of AUM as of June 30, 2022. 

The three-day share sale had opened for subscription last week on Wednesday November 2, 2022 and the issue concluded on Friday, November 4, 2022.

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