Fusion Microfinance Share Allotment Today: The initial public offering (IPO) of Fusion Microfinance closed with a 2.95 times subscription on November 7. The company received bids for 6,30,36,040 shares against the 2,13,75,525 shares on offer. The share allotment status is to be out on November 10, with the listing going live next week.
Those who have applied for the public issue may check their application status online through the BSE portal or the website of the official registrar of the public issue, which in this case is Link Intime Private Limited. The response to Fusion Microfinance’s IPO remained low key with the retail portion getting subscribed 0.51 times only. The sentiments in the grey market, haven’t been encouraging either. According to market observers, the Fusion Microfinance shares are available at a premium (GMP) of Rs 5 per share in the grey market.
How To Check Fusion Microfinance IPO Allotment?
Check the Status Via BSE Website
-Log on to bseindia.com
-Click on Public Issue Tab and then on the ‘Status of Issue Application’ link available on the right side of the screen.
-Select The Name of the Company, Fusion Micro Finance Limited in the dropbox
-Enter the application number, PAN in the specified fields
-Click on ‘I am not a Robot’ and hit submit.
Direct Links to Check the Status
However, for convenience, a bidder can login at direct BSE link — bseindia.com/investors/appli_check.aspx or at direct Link Intime web link — linkintime.co.in/MIPO/Ipoallotment.html.
While the response from the retail investor remained lukewarm, the company did receive an oversubscription of 8.59 times in the qualified institutional buyers(QIB) category The QIBs play an important role in IPOs. Half of the issue size is reserved for QIBs, followed by 15 per cent for non-institutional investors and the remaining 35 per cent for individual investors Any IPO’s QIB part needs to receive a minimum of 90 per cent subscription to be successful.
Fusion Microfinance aims to raise Rs 1,104 crore through the IPO. This includes fresh issuance for Rs 600 crore and an offer for sale for the remaining Rs 504 crore. The price band for the issue is Rs 350- 368 per share with a lot size of 40 shares.
Incorporated in 1994, Fusion Micro Finance offers financial services to women entrepreneurs belonging to the economically and socially deprived section of society. The company’s entire assets under administration as of June 2022 were Rs 7,389 crore, with rural areas making up 91 per cent of that amount.
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