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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of FUSION MICROFINANCE LIMITED will open for subscription on November 02, 2022 and closes on November 04, 2022. It is expected to list on the stock exchanges on November 15, 2022. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Since its inception in 2010, the company has been one of the youngest among the top 10 NBFC-MFIs in India in terms of AUM providing financial services to un-served and underserved women in rural and peri-rural areas across India. In addition, they had the fourth fastest gross loan portfolio CAGR of 53.89% between the financial years 2017-21 among the ten largest NBFC-MFIs in India.
The company has achieved a significant footprint across India and extended its reach to 2.90 million active borrowers. They serve these borrowers through their network of 966 branches spread across 377 districts in 19 states and union territories in India. In addition, they have 9,262 permanent employees. Their share of AUM from rural customers represented 91.37% of the total AUM and their focus customer segment is women in rural areas with an annual household income of up to ₹300,000. (As of June 30, 2022)
The company runs its business on a joint liability group-lending model, wherein a few women form a group (typically comprising five to seven members) and guarantee one another’s loans. This model ensures credit discipline through peer support within the group, enabling customers to manage finances prudently and promptly repay their loans. Their key product offerings include income-generating loans that provide capital for women entrepreneurs in rural areas to fund businesses operating in the agriculture-allied, agriculture, manufacturing, production, trade, retail, and services sectors.
Devesh Sachdev, Creation Investments Fusion, LLC, Creation Investments Fusion II, LLC and Honey Rose Investment Ltd.
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards augmenting its capital base.
|IPO Size||₹ 1103.99 Crore*|
|Offer Mix||Fresh issue ₹ 600 Crore + Offer For Sell ₹ 503.99 Crore*|
|Price Band||₹ 350 - ₹ 368|
|Lot Size||40 Shares (& in multiples thereof)|
|Face Value||₹ 10|
|Application Amount||Min. ₹ 14,720 (1 lot) | Max. ₹ 1,91,360 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Link Intime India Private Limited|
|Cut-off time for UPI Mandate Confirmation||04-November-2022 (up to 05:00 PM)|
₹ 552.00 Crore
(50% of the Issue Size)
₹ 165.60 Crore
(15% of the Issue Size)
₹ 386.39 Crore
(35% of the Issue Size)
|IPO Opens||November 02, 2022|
|IPO Closes||November 04, 2022|
|Finalization of the basis of allotment||November 10, 2022|
|Unblocking of funds / Initiation of refunds||November 11, 2022|
|Credit of equity shares to Demat accounts||November 14, 2022|
|Listing of equity shares||November 15, 2022|
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