Microfinance firm Fusion Restricted is planning to lift round Rs 600 crore by contemporary issuance of fairness shares in its preliminary public providing (IPO), a high official stated on Saturday.
The preliminary share sale will open for public subscription on November 2 and conclude on November 4. The corporate has mounted a worth band of Rs 350-368 a share, its MD and CEO Devesh Sachdev stated at a press convention.
The IPO contains contemporary issuance of fairness shares value Rs 600 crore and a proposal of sale of 1,36,95,466 fairness shares by promoters and current shareholders.
The corporate is anticipated to lift Rs 1,104 crore on the higher finish of the value band.
The corporate has round 1,000 branches in 377 districts in 19 states within the nation with a 29 lakh buyer base, Sachdev stated.
The corporate presently manages a Rs 7,400 crore portfolio, out of which Rs 500 crore portfolio is from Rajasthan, he added.
The corporate affords loans within the rural sector, particularly girls with a median mortgage measurement of Rs 25,000 and a most restrict of Rs 80,000, Sachdev famous.
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