Fusion Micro Finance IPO subscribed 29% on Day 2 of the issue

On Thursday’s second day of subscriptions, 29% of Fusion Micro Finance’s initial public offering was taken up. NSE data shows that 61,45,560 out of the 2,13,75,525 shares that were offered in the IPO got bids.

61% of the non-institutional investor category’s subscriptions were received, while 31% of the retail individual investor (RII) category’s subscriptions were received. A fresh issue of up to Rs600 crore and an offer to sell up to 1,36,95,466 equity shares are both included in the IPO.

The offer’s price range is Rs350—368 per share. Fusion Micro Finance announced on Tuesday that it has raised just over Rs331 crore from anchor investors. At the top of the price range, the company is anticipated to raise Rs1,104 crore. The new issue’s net proceeds will increase the microlending company’s capital base. The offer’s managers are IIFL Capital Services, ICICI Securities, CLSA India, and JM Financial.