Fusion Micro Finance IPO to Open on Nov 02: Check IPO Details, Issue Date, Price

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Fusion Micro Finance IPO to Open on Nov 02: Check IPO Details, Issue Date, Price

November 01, 2022
Fusion Micro Finance IPO to Open on Nov 02: Check IPO Details, Issue Date, Price

Fusion Micro Finance is coming out with a fresh public issue to raise Rs.1103.99 crores from the market.

Below are the details of the Fusion Micro Finance IPO:

  • Issue opens – Nov 02 (Wednesday)
  • Issue closes – Nov 04 (Friday)
  • Issue size – Rs. 1103.99 crores
  • Price band – Rs. 350 to 368 per equity share
  • Bid lot – 40 shares and in multiples thereof

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And here are some details of the company and further details on the Fusion Micro Finance Limited.

Company details:

·    Fusion Micro Finance Limited founded with the core idea of creating opportunities at the bottom of the pyramid, and they do so by providing financial services to unserved and underserved women in rural and peri-rural areas across India. They believe that their network and services have improved accessibility to formal credit at affordable prices, thereby positively impacting the lives of their customers in rural India, and they were one of the youngest companies (in terms of getting an NBFC-MFI licence) among the top NBFC-MFIs in India in terms of AUM as of June 30, 2022, according to CRISIL. In addition, had the fourth fastest gross loan portfolio CAGR of 53.89% between the financial years 2017 and 2021 among the 10 largest NBFC-MFIs in India, according to CRISIL.

·    They have prioritized organic geographic diversification since their inception in 2010, with a focus on strategic management of state concentration risk by expanding into underpenetrated rural areas that offer significant growth opportunities. As a result, they have achieved a significant footprint across India, where they have extended their reach to 2.90 million active borrowers which were served through their 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.

·    Their extensive and geographically diverse distribution network allows them to offer “last-mile” connectivity to their customers in remote rural areas. According to CRISIL, they had the fourth lowest gross loan portfolio per district and second lowest gross loan portfolio per customer among the top ten NBFC-MFIs in India, for the financial year 2022, demonstrating better diversification and lower risk per customer. As a result of their active management of state concentration, they have been able to maintain low levels of AUM concentration per state despite their growth over the years.

·    Their key product offerings are income-generating loans that provide capital for women entrepreneurs in rural areas to fund businesses operating in the agriculture-allied and agriculture, manufacturing and production, trade and retail, and services sectors. Subject to certain eligibility criteria, they also offer their existing customers top-up loans to manage interim working capital requirements for existing businesses as well as emergency loans to fund urgent  financial needs arising as a result of unforeseen events such as health emergencies, natural disasters and family bereavements. In addition, they offer their existing customers cross-sell loans that are utilized for livelihood and productivity enhancing purposes as well as MSME loans to eligible enterprises.

Issue break-up:

  • QIB – 50% of the offer – Rs. 552 crores
  • NIB – 15% of the offer – Rs. 165.60 crores
  • RET – 35% of the offer – Rs. 386.40 crores

Listing: BSE and NSE

Registrar: Link Intime India Private Limited

UPI: All Retail & NII bidders' (bids up to Rs 5,00,000) applications through brokers are compulsorily in UPI Mode

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