Fusion Micro Fin IPO subscribed 29% on Day-2
The initial public offering (IPO) of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday.
image for illustrative purpose
New Delhi: The initial public offering (IPO) of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday. The IPO received bids for 61,45,560 shares against 2,13,75,525 shares on offer, according to NSE data.
The category meant for non-institutional investors was subscribed 61 per cent and Retail Individual Investors (RIIs) part attracted 31 per cent subscription. The IPO has a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares.
Price range for the offer is at Rs 350-368 a share. On Tuesday, Fusion Micro Finance said it has raised a little over Rs 331 crore from anchor investors. The company is expected to raise Rs 1,104 crore at the upper end of the price band.
Net proceeds of the fresh issue will be used to augment the capital base of the microfinance firm. IIFL Securities, ICICI Securities, CLSA India and JM Financial are the mangers to the offer.
