Fusion Microfinance's IPO to open on 2nd November

31 Oct 2022 , 06:37 AM

Fusion Microfinance’s IPO will open on November 2nd. Fusion will begin its Rs1,100 crore initial share sale on Wednesday at a price range of Rs 350-368 per share, with Rs600 crore in new share sales and the remaining Rs600 crore coming from an offer-for-sale by the promoter families and current external investors.

Fusion Microfinance, is also testing a small business-focused secured loan book, that it plans to commercially launch it next month in order to strengthen its secured portfolio and accelerate faster growth. Small-ticket loans, up to Rs 50,000 per borrower, are often provided by microfinance. These loans are completely unsecured and without collateral.

Fusion, which has the largest customer base and second-largest loan book and is backed by major global private equity firm Warburg Pincus,  wants to develop a secured lending business that is only aimed at small businesses, which do not necessarily have to be run by women alone.