New Delhi: Fusion Microfinance initial public offering (IPO) opening recieved positive response on Day 1 (November 2). On the first day of its subscription, the Fusion Microfinance IPO was subscribed 12 percent. Fusion's Rs 1,100-crore initial share sale -- Rs 600 crore in fresh share sale and the rest via an offer-for-sale by promoter families and existing external investors. The three day IPO will close on Friday (November 4).


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According to the company, 50 per cent of the issue size has been reserved for qualified institutional investors, 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors. 


Fusion Microfinance IPO Listing, GMP and other details


Ahead of the IPO, the New Delhi-headquartered microfinance company had said that it has raised a little over Rs 331 crore from anchor investors.The issue, with a price band of Rs 350-368 per share, will likely list on BSE and NSE on November 15. As per reports, the Fusion Microfinance latest GMP suggests a premium of Rs 24.


Fusion's current loan book is a shade less than Rs 7,400 crore -- as of June 2022 in an industry that has an AUM of USD35 billion -- of this a tad over Rs 200 crore is the MSME book, he said. Fusion has close to 970 branches spread across 377 districts in 19 states but most of them are concentrated in Bihar and UP, and it employs close to 10,000 people.
        
Fusion has one of the best asset quality in the industry with a GNPA of 3.67 per cent and an NNPA of 1.35 per cent and a provision coverage ratio of 96, as of June.  


With PTI Inputs