Latest News | Fusion Micro Finance IPO Subscribed 29 Pc on Day 2 of Offer
Get latest articles and stories on Latest News at LatestLY. The initial public offering of Fusion Micro Finance was subscribed 29 per cent on the second day of subscription on Thursday.
New Delhi, Nov 3 (PTI) The initial public offering 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.
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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.
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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.
(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)