Fusion Microfinance IPO 2021 Update : Fusion Micro Finance Limited has registered preliminary request for IPO with capital markets regulator SEBI (Securities and Exchange Board of India) to boost funds by an preliminary share sale. Fusion Micro Finance comprises fresh issuance of equity shares as well as offer for sale of their promotor’s shares.
Fusion Micro Finance Limited IPO comprises below shares to be sale:
- Fresh Issuance – Worth Rs. 600 Crore
- Offer for sale (Promotor’s) – 219.66 lakh equity shares
The raised money will be used for below purposes :
- Utilize the Net Proceeds towards augmenting its capital base.
- Company expects to receive the benefits of listing of the Equity Shares on the Stock Exchanges and enhancement of Company’s brand name amongst their existing and potential customers and creation of a public market for our Equity Shares in India.
Fusion Microfinance is a registered NBFC – MFI which operates in a Joint Liability Group lending model of Grameen. Fusion as an organization was set-up in 2010.
Fusion provides loans ranging from INR 10,000 to INR 75,000 for loan tenure of 1 years to 2 years. The clients are from the poor section of the society and undertake these loans to start new business or expand existing businesses. These loans help the families to earn more surpluses and improve the quality of life of their family.