iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Fusion Micro Finance dips 6% from issue price

15 Nov 2022 , 10:45 AM

Fusion Micro Finance (FMFL) has made a bumpy stock market debut, with its shares sliding up to 6% to Rs 346.10 compared to its issue price on the BSE and NSE on Tuesday. The stock opened at Rs 360.50, a 2% decrease from its issue price of Rs 368 per share on the BSE. The NSE opened at Rs 359.50, according to market statistics.
At 10:08 a.m., FMFL was trading at Rs 349.15, down 5% from its issue price, while the S&P BSE Sensex was down 0.11 %. On the NSE and BSE, around 6.4 million shares were traded.

The Rs 1,104-crore initial public offering (IPO) of a Delhi-based microfinance institution had a positive reaction and was subscribed to 2.95 times. The amount intended for qualified institutional buyers (QIBs) was subscribed to 8.59 times, while the portion reserved for non-institutional investors was subscribed to 1.38 times. However, individual retail investors were only subscribed to about 51% of the time, or 0.51 times, according to the data.
FMFL provides financial services to unserved and underprivileged women in rural and semi-rural India. Total AUM amounted at Rs 7,389 crore as of June 30, 2022, with a 53.8 % CAGR in FY17-21. As of June 30, 2022, the gross NPA ratio was 3.6%, while the net NPA ratio was 1.3%.

The number of active borrowers served by FMFL’s 966 branches and 9,262 workers throughout 377 districts in 19 Indian states and union territories increased by 33.6 % CAGR to 2.9 million (June 2022). The company has a history of providing microfinance services to rural regions with significant development potential, and it has consistently maintained strong rates of customer acquisition and retention, with retention rates for Q1FY23 standing at 71.7%.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Finance
  • Fusion Finance
  • IPO
  • markets
  • news
  • NSE
  • Top News
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.