Fusion Microfinance on Friday said it has fixed a price band of Rs 350-368 a share for its Rs 1,104 crore initial public offering (IPO).
The initial share sale will open for public subscription on November 2 and conclude on November 4. The bidding for anchor investors will open on November 1, according to the company.
The IPO comprises fresh issuance of equity shares worth Rs 600 crore and an offer of sale of 1,36,95,466 equity shares by promoters and existing shareholders.
Those selling shares in the OFS are — Devesh Sachdev, Mini Sachdev, Honey Rose Investment Ltd, Creation Investments Fusion, LLC, Oikocredit Ecumenical Development Co-operative Society UA and Global Financial Inclusion Fund.
The company is expected to raise Rs 1,104 crore at the upper end of the price band.
Net proceeds from the fresh issue will be used to augment the capital base of the microfinance firm.
The New Delhi-headquartered microfinance company provides financial services to underserved women across
| Subscribe To Our Free Newsletter |
