Fusion Micro Finance IPO
Fusion Micro Finance Limited (FUSION) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 15 November 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +3.0% (likely range +2% to +9%), day's high +11.1%, chance of a gain 80%. Actual: -2.3% at the open, -0.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 59,56,362 | 5,11,52,560 | 8.59x | |
| NII (HNI) total | 46,25,749 | 63,62,800 | 1.38x | |
| Big NII (above ₹10 lakh) | 30,83,832 | 46,82,400 | 1.52x | |
| Small NII (₹2-10 lakh) | 15,41,917 | 16,80,400 | 1.09x | |
| Retail | 1,07,93,414 | 55,20,680 | 0.51x | |
| Total | 2,13,75,525 | 6,30,36,040 | 2.95x |
Bids on NSE and BSE together, as published by NSE, as of 04 Nov 2022, 07:00 PM. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Fusion Micro Finance's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Varroc EngineeringJun 2018 | 9.16x | 2.45x | 0.95x | 3.59x | ₹1,955 Cr | +5.0% | +9.8% |
| Vedant FashionsFeb 2022 | 7.49x | 1.07x | 0.39x | 2.57x | ₹3,149 Cr | +8.0% | +14.6% |
| Metro BrandsDec 2021 | 8.49x | 3.02x | 1.13x | 3.64x | ₹1,368 Cr | -12.6% | +1.6% |
| Vijaya Diagnostic CentreSep 2021 | 13.1x | 1.32x | 1.09x | 4.54x | ₹1,895 Cr | +1.7% | +22.0% |
| L&T Technology ServicesSep 2016 | 5.01x | 1.03x | 1.75x | 2.53x | ₹894 Cr | +7.0% | +8.3% |
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| IIFL Securities Limited / ICICI Securities Limited /CLSA India | 11 | +5.7% | 64% |
| JM Financial | 109 | +22.8% | 75% |
Offer documents (NSE)
Frequently asked
What is the Fusion Micro Finance IPO price band and lot size? ₹350–368 per share, with a lot of 40 shares, so the smallest retail bid is ₹14,720.
How many times has it been subscribed? 2.95x overall: QIB 8.59x, NII 1.38x, retail 0.51x.
How did it list? It opened at ₹360, -2.3% against the issue price of ₹368, and closed its first day -11.7%.
