Latest News | Fusion Micro Finance’s IPO was subscribed 2.95 times in the last day

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New Delhi, November 4 (PTI) Fusion Micro Finance’s initial public offering (IPO) was subscribed 2.95 times on Friday, the last day for subscription.

The Rs 1,104 crore IPO has received bids for 6,30,36,040 shares against 2,13,75,525 shares on offer, according to data available from the NSE.

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The quota for qualified institutional buyers (QIB) received 8.59 times the subscription, while the non-institutional investors category was subscribed 1.38 times and retail individual investors (RII) 51%.

The IPO had a new issue of up to Rs 600 crore and a sell offer of up to 1,36,95,466 shares.

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It had a price range of Rs 350-368 per share.

On Tuesday, Fusion Micro Finance said it raised just over Rs 331 crore from senior investors.

The net proceeds from the new issue will be used to increase the capital base of the microfinance business.

IIFL Securities, ICICI Securities, CLSA India and JM Financial were the managers of the offering.

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)

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