Fusion Micro Finance IPO
Fusion Micro Finance IPO — date, price band, lot size & details 2022
Fusion Micro Finance listed on 15 Nov 2022 at ₹359.5, 2.3% below the ₹368 issue price.
Fusion Micro Finance is an NBFC-MFI that gives small loans to women entrepreneurs from economically and socially deprived sections. It served 2.90 million active borrowers on 30 June 2022.
Stock price
Fusion Micro Finance is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 02 Nov 2022
- Close 04 Nov 2022
- Allotment 10 Nov 2022
- Refund/credit 11 Nov 2022
- Listing 15 Nov 2022
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 4 Nov, 2022 |
|---|---|
| Price Band | ₹350 – ₹368 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹1103.99 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,720 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹368 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹14,720 |
| Retail (max) | 13 | 520 | ₹1,91,360 |
| S-HNI (min) | 14 | 560 | ₹2,06,080 |
| S-HNI (max) | 67 | 2,680 | ₹9,86,240 |
| B-HNI (min) | 68 | 2,720 | ₹10,00,960 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 730.31 crore in FY2020 to Rs 1,201.35 crore in FY2022.
- 02Profit after tax was Rs 75.10 crore in the three months to 30 June 2022, far above Rs 21.76 crore in all of FY2022.
- 03Rs 600.00 crore of the issue was fresh capital to support lending growth.
- 04It reached 2.90 million active borrowers through 966 branches in 19 states and union territories.
- 05Net worth grew from Rs 1,198.89 crore on 31 March 2020 to Rs 1,416.47 crore on 30 June 2022.
Risks · 5
- 01Profit after tax fell from Rs 69.61 crore in FY2020 to Rs 21.76 crore in FY2022 as loan stress rose.
- 02The pre-issue P/E was 142.64 at the upper band of Rs 368, based on EPS of Rs 2.58.
- 03Total borrowing was Rs 6,009.97 crore on 30 June 2022, against net worth of Rs 1,416.47 crore.
- 04Microfinance loans are unsecured and sensitive to local shocks, elections and loan waivers across its 377 districts.
- 05Promoters and the promoter group held 85.57% before the issue and 68.18% after it, as per the RHP.
Three years of numbers
All figures in ₹ crore, as reported in the Fusion Micro Finance offer document.
| Metric | 30 Jun 2022 | 31 Mar 2022 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|---|
| Assets | 7,615.24 | 7,290.48 | 5,824.87 | 5,837.93 | 4,239.99 |
| Total Income | 360.45 | 1,201.35 | 264.96 | 873.09 | 730.31 |
| Profit After Tax | 75.10 | 21.76 | 4.41 | 43.94 | 69.61 |
| NET Worth | 1,416.47 | 1,337.95 | 1,251.65 | 1,246.36 | 1,198.89 |
| Total Borrowing | 6,009.97 | 5,775.81 | 4,422.65 | 4,432.25 | 2,973.69 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Fusion Micro Finance RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Fusion Micro Finance IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.58 | ₹29.85 |
| P/E Ratio (x) | 142.64 | 12.33 |
| Market Cap at Offer Price (₹ Cr) | ₹10,711.94 | ₹925.86 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹368 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹569.37 Cr of the issue is earmarked to named objects.
About the company
It is one of the youngest companies among the top 10 NBFC-MFIs in India by AUM as of 30 June 2022.
On that date it served 2.90 million active borrowers through 966 branches and 9,262 permanent employees across 377 districts in 19 states and union territories.
The IPO was Rs 1,103.99 crore, with Rs 600.00 crore of fresh issue and Rs 503.99 crore of offer for sale. The fresh money was meant to augment the capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Fusion Micro Finance IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
CLSA India Pvt. Ltd
9 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Star Health and Allied Insurance Company (-6.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Fusion Micro Finance?
The current Grey Market Premium is ₹5, or 1% over the issue price.
What is the Fusion Micro Finance IPO price band?
₹350 to ₹368, on a face value of ₹10.
When is the allotment?
The basis of allotment is 10 November 2022, with listing on 15 November 2022.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
