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November 1, 2022
This is to inform you that Fusion Micro Finance Limited is coming out with a public issue to raise Rs.1103.99 crore from the market.
The issue opens on November 2 and closes on November 4, 2022.
Details of the Fusion Micro Finance Limited IPO
| Company Details |
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- Fusion Micro Finance Limited founded with the core idea of creating opportunities at the bottom of the pyramid, and they do so by providing financial services to unserved and underserved women in rural and peri-rural areas across India. They believe that their network and services have improved accessibility to formal credit at affordable prices, thereby positively impacting the lives of their customers in rural India, and they were one of the youngest companies (in terms of getting an NBFC-MFI licence) among the top NBFC-MFIs in India in terms of AUM as of June 30, 2022, according to CRISIL. In addition, had the fourth fastest gross loan portfolio CAGR of 53.89% between the financial years 2017 and 2021 among the 10 largest NBFC-MFIs in India, according to CRISIL.
- They have prioritized organic geographic diversification since their inception in 2010, with a focus on strategic management of state concentration risk by expanding into underpenetrated rural areas that offer significant growth opportunities. As a result, they have achieved a significant footprint across India, where they have extended their reach to 2.90 million active borrowers which were served through their network of 966 branches and 9,262 permanent employees spread across 377 districts in 19 states and union territories in India, as of June 30, 2022.
- Their extensive and geographically diverse distribution network allows them to offer “last-mile” connectivity to their customers in remote rural areas. According to CRISIL, they had the fourth lowest gross loan portfolio per district and second lowest gross loan portfolio per customer among the top ten NBFC-MFIs in India, for the financial year 2022, demonstrating better diversification and lower risk per customer. As a result of their active management of state concentration, they have been able to maintain low levels of AUM concentration per state despite their growth over the years.
- Their key product offerings are income-generating loans that provide capital for women entrepreneurs in rural areas to fund businesses operating in the agriculture-allied and agriculture, manufacturing and production, trade and retail, and services sectors. Subject to certain eligibility criteria, they also offer their existing customers top-up loans to manage interim working capital requirements for existing businesses as well as emergency loans to fund urgent financial needs arising as a result of unforeseen events such as health emergencies, natural disasters and family bereavements. In addition, they offer their existing customers cross-sell loans that are utilized for livelihood and productivity enhancing purposes as well as MSME loans to eligible enterprises.
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| Issue Period |
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Issue opens on: Wednesday, November 2, 2022
Issue closes on: Friday, November 4, 2022
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| Price Band |
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Rs.350 to Rs.368 per equity share |
| Bid Lot |
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40 equity shares and in multiple thereafter. |
| Issue Size |
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Rs.1103.99 crore |
| Issue break-up |
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QIB - 50% of the offer – Rs.552.00 crore
NIB - 15% of the offer - Rs.165.60 crore
RET - 35% of the offer - Rs.386.40 crore |
| Listing |
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NSE and BSE |
| Registrar |
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Link Intime India Private Limited |
| UPI |
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All Retail & NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
Watch these 4 videos to know how to apply for the Fusion Micro Finance Limited IPO online easily.
Step 1: Create an UPI ID
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Step 2: Apply for IPO online using mobile app or website
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Step 3: Authorise UPI mandate to block payment
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Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
| Name of App (Supported Platforms) |
VPA Handle |
| BHIM Baroda Pay (only Android) |
@BARODAMPAY |
| BHIM Oriental Pay (Only Android) |
@obc |
| BHIM RBL Pay (Android & iOS) |
@rbl |
| BHIM (android & iOS) |
@upi |
| BHIM ALLBANK UPI (only Android) |
@allbank |
| BHIM Axis Pay (only android) |
@axisbank |
| BHIM IndusPay (only Android) |
@indus |
| BHIM Lotza UPI (only Android) |
@federal |
| BHIM SBIPay (only android) |
@sbi |
| Citi Mobile (android & iOS) |
@citi & @citigold |
| Google Pay (android & iOS) |
@okhdfcbank | @okaxis | @oksbi | @okicici |
| HSBC Simply Pay (android & iOS) |
@hsbc |
| iMobile by ICICI Bank (android users) |
@icici |
| Kotak Mobile Banking App (Android) |
@kotak |
| Phone-Pe (android & iOS) |
@ybl |
| SIB Mirror+ (only Android) |
@sib |
| BHIM YES PAY (only Android) |
@yesbank |
| DigiBank - DBS (Android & iOS |
@dbs |
| Paytm (Andriod & iOS) |
@paytm |
| BHIM AUPay (Android & iOS) |
@aubank |
| Freecharge (Android & iOS) |
@freecharge |
| BHIM BANDHAN UPI (Android & iOS) |
@bandhan |
| BHIM KBL UPI (Android) |
@kbl |
| Phone-Pe (Android & iOS) |
@ybl, @axl, @ibl |
- To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
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