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Fusion Micro Finance IPO: Check price band, allotment date, and listing date; subscription opens today

Fusion Micro Finance IPO: Dates for Fusion Micro Finance’s initial public offering (IPO), price range, share allotment, and listing announced on Wednesday, November 2. Microfinance organisation Fusion Microfinance is situated in New Delhi. For its $1,104 million first public offering, it has set a price range of Rs. 350–368 per share.

The IPO consists of a new equity share issue for Rs 600 crore and an offer by the promoters and current shareholders to sell 1,36,95,466 equity shares. Each share would have a face value of 10 rupees.

People selling shares in the OFS

Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society UA, and Global Financial Inclusion Fund are the people selling shares in the OFS.

Qualified institutional investors have been allocated 50% of the offering size, retail investors 35%, and the remaining non-institutional investors 15%.

Bids can be submitted for a minimum of 40 shares and in multiples of that number.

Date of the Fusion Micro Finance IPO Allotment

The IPO allocation date for Fusion Micro Finance is November 10. The selected bidders’ Demat accounts will receive Fusion Micro Finance shares on November 14.

Date of the Fusion Micro Finance IPO

Both the prestigious BSE and NSE will list the Fusion Micro Finance IPO. The IPO listing date for Fusion Micro Finance is November 15.

Fusion Micro Finance announced that it has secured slightly more than Rs 331 crore from anchor investors in advance of the IPO. According to a circular posted on the BSE website, the business has agreed to distribute 89,99,943 equity shares to anchor investors for a total transaction value of Rs 331.2 crore at a price of Rs 368 per share.

Anchor investors

It went on to list a number of the anchor investors, including Nomura, BNP Paribas Arbitrage, Aditya Birla Sun Life Mutual Fund, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, Motilal Oswal Mutual Fund, HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, and Kotak Mahindra Life Insurance Company.

The fresh issue’s net proceeds will be used to increase the microlending company’s capital base.

In order to help neglected women in India have easier access to better economic possibilities, a microfinance organisation with headquarters in New Delhi offers financial services to these individuals.

Disclaimer: These investments are subject to market risks, read all scheme related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates.

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