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Fusion Ltd to raise Rs 600 Crore by issuing new equity shares


Public Offering: Fusion Ltd to raise Rs 600 Crore by issuing new shares

Fusion Limited currently manages a portfolio of Rs 7,400 crore. (Represent)

Jaipur:

Microfinance firm Fusion Limited is planning to raise around Rs 600 crore through the issuance of new shares in an initial public offering (IPO), a top official said on Thursday. Seven.

The initial sale of shares will be open for public registration on November 2 and end on November 4. The Company has fixed a price of Rs 350-368 per share, CEO and Director executive Devesh Sachdev said at a press conference.

The IPO consists of a new issuance of owner shares worth Rs 600 crore and an offering of 1,36,95,466 equity shares by existing promoters and shareholders.

The company is expected to raise Rs 1,104 crore in the upper part of the price range.

Sachdev said the company has about 1,000 branches in 377 counties in 19 states across the country with 29,000 customers.

The company currently manages a portfolio of Rs 7,400 crore, of which a portfolio of Rs 500 crore is from Rajasthan, he added.

The company offers loans in rural areas, especially to women with an average loan size of Rs 25,000 and a maximum limit of Rs 80,000, noted Sachdev.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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