IPO: Fusion Micro Finance Public Offer Subscribed 12% On Day 1 Of Offer

Fusion Micro Finance is expected to raise Rs 1,104 crore at the upper end of the price band.

New Delhi:

The initial public offering of Fusion Micro Finance was subscribed 12 per cent on the first day of subscription on Wednesday.

The IPO received bids for 26,04,560 shares against 2,13,75,525 shares on offer, according to an update on the NSE.

The non-institutional investors category received 23 per cent subscription and Retail Individual Investors (RIIs) portion was subscribed 14 per cent.

The Initial Public Offering (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.

The offer has a price range of Rs 350-368 a share.

Fusion Micro Finance on Tuesday 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 managers to the offer.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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