IPO of Fusion Micro Finance on November 2: do you have to register?

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The initial public offering (IPO) of Fusion Micro Finance of 1,104 crore is expected to be opened for subscription on November 2, 2022. The public issuance will end on November 4, 2022.

The Non-Banking Financial Corporation (NBFC) will sell its shares in the range of 350-368 each.

Merger Microfinance Initial Public Offering includes the issue consists of the issue of new shares with a value 600 crore with an offer for sale (OFS) of 13,695,466 shares by the promoters and existing shareholders.

The issue consists of the issue of new shares with a value 600 crore with an offer to sell (OFS) of up to 13,695,466 shares, worth 504 crore from existing shareholders and promoters of the company. The new issue will be used to increase the capital base.

The minimum bid is that of 40 shares and then in multiples thereof.

Those selling shares in the SFO are Devesh Sachdev (Founder and Chairman of the MFI), his wife Mini Sachdev, Honey Rose Investment and two funds from Creation Investments Fusion, Dutch impact investor Oikocredit Ecumenical Development Co- operative Society and Global Financial Inclusion Fund.

“Fusion is well positioned to deliver an ROA/ROE above 4%/20% on a sustainable basis, barring unforeseen events that hamper the microfinance industry every few years. Fusion’s metrics are similar to those of the largest listed MFI player, namely CreditAccess. , while Fusion’s valuations are at a steep 45% discount in comparison. We recommend that you “subscribe” to the show,” the brokerage said. beyond Nirmal Bang.

Fusion Micro Finance shares command a premium (GMP) of 36 on the gray market today. The company’s shares are expected to be listed on the BSE and NSE stock exchanges on Tuesday, November 15, 2022.

Fusion Micro Finance shares command a premium (GMP) of 36 on the gray market today. The company’s shares are expected to be listed on the BSE and NSE stock exchanges on Tuesday, November 15, 2022.

Launched in 2010, Fusion Micro Finance provides financial services to unserved and underserved women in rural and peri-rural areas across India. Its gross assets under management (AUM) was 73.89 billion, up 59.6% from the prior year quarter.

Disclaimer: The opinions and recommendations made above are those of individual analysts or brokerage firms, and not of Mint.

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