Fusion Micro Finance is expected to raise Rs 1,104 crore at the upper end of the price band.
New Delhi:
Fusion Micro Finance’s initial public offering was subscribed 12% on the first day of subscription on Wednesday.
According to an update on NSE, the IPO received bids for 26,04,560 shares as against 2,13,75,525 shares.
The non-institutional investor segment subscribed 23 per cent and the retail individual investor (RII) segment subscribed 14 per cent.
The Initial Public Offering (IPO) consists of a fresh issue of up to Rs 600 crore and an offer for sale of 1,36,95,466 equity shares.
The offer price is Rs 350-368 per share.
Fusion Micro Finance on Tuesday said it has raised a little over Rs 331 crore from anchor investors.
The company expects to raise Rs 1,104 crore at the upper end of the price band.
The net proceeds of the new issue will be used to increase the capital base of the microfinance firm.
IIFL Securities, ICICI Securities, CLSA India and JM Financial are the managers of the offer.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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