Latest News | Fusion Micro Finance IPO Subscribed 2.95 Times on Last Day
Get latest articles and stories on Latest News at LatestLY. The Initial Public Offering (IPO) of Fusion Micro Finance was subscribed 2.95 times on Friday, the last day of subscription.
New Delhi, Nov 4 (PTI) The Initial Public Offering (IPO) of Fusion Micro Finance was subscribed 2.95 times on Friday, the last day of subscription.
The Rs 1,104-crore IPO received bids for 6,30,36,040 shares against 2,13,75,525 shares on offer, as per data available with the NSE.
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The quota meant for Qualified Institutional Buyers (QIBs) received 8.59 times subscription, while the non-institutional investors category was subscribed 1.38 times and Retail Individual Investors (RIIs) 51 per cent.
The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares.
It had a price range of Rs 350-368 a share.
On Tuesday, Fusion Micro Finance said it has raised a little over Rs 331 crore from anchor investors.
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 were the managers to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)