Fusion Microfinance IPO listing date and time, Fusion Microfinance Share Price NSE BSE: Fusion Microfinance IPO will list on the NSE and BSE today. The IPO of the New Delhi-based company opened on November 2 and investors were able to subscribe to it till November 4. The company had fixed a price band of Rs 350-368 a share for its Rs 1,104 crore IPO.
Fusion Microfinance provides financial services to women in rural and semi-urban areas. The public issue was subscribed 2.95 times on the last day of subscription.
Fusion Microfinance Share Price NSE, BSE
According to data available with the NSE, Fusion Micro Finance IPO received bids for 6,30,36,040 shares against 2,13,75,525 shares on offer. The company issued the shares a the upper band of Rs 368.
The quota meant for Qualified Institutional Buyers (QIBs) received 8.59 times subscription, while the non-institutional investors category was subscribed 1.38 times and Retail Individual Investors (RIIs) 51 per cent. The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares.
Fusion Microfinance IPO listing date and time
Fusion Microfinance shares will list on NSE and BSE at 10 AM. The pre-open session will start at 9:45 AM.
“Trading members of the exchange are hereby informed that effective from Tuesday, November 15, 2022, the equity shares of Fusion Micro Finance shall be listed and admitted to dealings on the Exchange in the list of ‘B’ group of securities,” as per BSE notice.
Fusion Microfinance IPO listing price expectation
According to Anil Singhvi, the listing price could be below the issue price. He said that listing could take place around R 360 apiece with a stop loss of Rs 350. He, however, added that long-term investors can hold as the company is fundamentally strong.
Fusion Microfinance IPO Review
Zee Business Managing Editor Anil Singhvi had earlier suggested viewers to subscribe Fusion Micro Finance IPO for returns in the long term. He had said that the company has very experienced and clean promoters and has a very strong growth outlook.
According to the data of the last three years, he had said, the company has had very strong growth. It is a profit-making company and has good numbers and ratings. However, it has a lot of competition in the sector and valuation should have been more attractive.
“One should subscribe to this IPO for returns in the long term. If they can make some money in the short term, nothing like that. There are chances of listing gains as well but don’t expect major gains,” Singhvi had said.
Ahead of the IPO, Fusion Micro Finance allotted 89,99,943 equity shares to anchor investors at Rs 368 apiece, aggregating the transaction size to Rs 331.2 crore, according to an exchange filing.
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