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Fusion Finance Approves Promoter Reclassification and Appoints New CSO
Fusion Finance has approved the reclassification of Mr. Devesh Sachdev and his family trust from the 'Promoter' to 'Public' category, as they no longer exercise control or hold board seats. This follows the termination of special rights previously held by the group in January 2026. Additionally, the company has appointed Ms. Priyanka Seth Wadhera, a Chartered Accountant with over 23 years of experience, as the Chief Strategy Officer (CSO). These changes reflect a transition toward a more professionally managed corporate structure.
Key Highlights
Board approved reclassification of Mr. Devesh Sachdev and family trust from 'Promoter' to 'Public' category shareholder.
Outgoing promoters confirmed they do not exercise direct or indirect control or influence management decisions.
Special rights previously granted to Mr. Sachdev were terminated via shareholder approval on January 7, 2026.
Ms. Priyanka Seth Wadhera appointed as Chief Strategy Officer (CSO) effective February 27, 2026.
New CSO brings 23+ years of experience, having previously served as Group CFO at Arya.ag and Indifi Technologies.
💼 Action for Investors
Investors should view the promoter reclassification as a formalization of the company's shift to a professionally managed entity. Monitor how the new CSO's extensive experience in fund raising and treasury management impacts the company's strategic growth.
Fusion Finance Focuses on UP Market with INR 1,837 Cr Portfolio; Returns to Profitability
Fusion Finance has highlighted Uttar Pradesh (UP) as a core strategic market, accounting for INR 1,837 crore of its total portfolio as of December 31, 2025. The company reported a return to profitability in Q3 FY26, driven by disciplined credit execution and improved asset quality. UP represents a significant portion of the business, comprising 25% of the total MFI book and 40% of the MSME book. With 299 branches in the state, Fusion is leveraging digital onboarding and AI-driven analytics to sustain growth in this high-potential region.
Key Highlights
Uttar Pradesh portfolio stands at INR 1,837 crore, with INR 1,543 crore in MFI and INR 294 crore in MSME lending.
The UP MFI book represents 25% of the company's total MFI book, while the UP MSME book accounts for 40% of its total MSME book.
Total Asset Under Management (AUM) reached INR 6,876 crore across India with 23.4 lakh customers as of Q3 FY26.
Company returned to profitability in Q3 FY26 following a focus on risk-based underwriting and branch-level monitoring.
Infrastructure in UP includes 271 MFI branches and 28 MSME branches serving over 5.6 lakh active loan accounts.
💼 Action for Investors
Investors should note the company's successful return to profitability and its strong foothold in the high-growth UP market. However, the high concentration of the MSME book (40%) in a single state warrants close monitoring of regional economic stability and asset quality.
Fusion Finance: Founder Devesh Sachdev Seeks Reclassification to Public Shareholder Category
Mr. Devesh Sachdev, the former Managing Director who resigned in September 2025, has formally requested to be reclassified from the Promoter to the Public category. This move follows a structured governance transition where his special rights were removed via shareholder approval in January 2026. Institutional promoters, including Honey Rose Investments and Creation Investments, will continue to hold majority shareholding and maintain their promoter status. The reclassification is a formal step to align the company's shareholding structure with its current professionally managed status.
Key Highlights
Mr. Devesh Sachdev resigned as Managing Director effective September 30, 2025, and left the Board on November 4, 2025.
Shareholders approved amendments to the Articles of Association in January 2026 to remove special rights held by Mr. Sachdev.
Institutional entities Honey Rose Investments and Creation Investments will remain as the primary promoters with majority control.
The reclassification process requires subsequent approvals from the Board of Directors, Stock Exchanges, and shareholders.
The company confirms that Mr. Sachdev is no longer involved in day-to-day management or affairs of the firm.
💼 Action for Investors
Investors should view this as a formalization of a leadership transition that has been underway since late 2025. Monitor the shareholding pattern for any potential stake sales by the Sachdev family once they are reclassified as public shareholders.
Fusion Finance Receives Request to Reclassify 2.80% Promoter Stake to Public Category
Fusion Finance Limited has received formal requests from Mr. Devesh Sachdev, Ms. Mini Sachdev, and the Devesh Sachdev Family Trust to be reclassified from the 'Promoter and Promoter Group' to the 'Public' category. Collectively, these entities hold 45,34,863 equity shares, which accounts for approximately 2.80% of the company's total share capital. The applicants have confirmed they do not exercise control, hold no special rights, and have no representation on the Board. This reclassification is subject to approvals from the Board of Directors, shareholders, and the stock exchanges (NSE and BSE).
Key Highlights
Mr. Devesh Sachdev (Promoter) holds 44,24,363 shares representing 2.73% of total equity.
Total stake seeking reclassification across all three entities is approximately 2.80%.
Applicants confirm they hold less than 10% voting rights and have no influence on management or policy decisions.
All special rights previously acquired via shareholder agreements or Articles of Association have been terminated.
The Board of Directors will consider the reclassification request in its next scheduled meeting.
💼 Action for Investors
Investors should view this as a technical regulatory change in shareholding structure; however, monitor for any potential future stake sales by these individuals once they are in the public category.
Fusion Finance Issues Final Call Notice for 7.06 Lakh Partly Paid Shares at ₹65.50 Each
Fusion Finance Limited has issued a first and final reminder-cum-forfeiture notice for 7,06,503 outstanding partly paid-up equity shares from its 2025 rights issue. Shareholders are required to pay a call amount of ₹65.50 per share, which includes a ₹5 face value and ₹60.50 premium. Additionally, an interest of 10% per annum is applicable for the delayed period from December 12, 2025, to February 15, 2026. The payment window is strictly open from February 16, 2026, to March 02, 2026.
Key Highlights
Call amount set at ₹65.50 per share for 7,06,503 partly paid-up equity shares
Interest of 10% p.a. charged for the 66-day delay period (approx. ₹1.18 per share)
Payment period scheduled from February 16, 2026, to March 02, 2026
Failure to pay by the deadline will result in forfeiture of shares and previously paid amounts
Payments must be made via Axis Bank collection centers using the prescribed payment slip
💼 Action for Investors
Holders of partly paid-up shares should complete the payment by March 02, 2026, to prevent the total loss of their investment through forfeiture. Other investors should view this as a routine completion of the company's capital-raising process.
Fusion Finance Q3 FY26: Returns to Profitability with PAT of ₹14 Cr; GNPA Drops to 4.38%
Fusion Finance has successfully restored its profitability in Q3 FY26, reporting a PAT of ₹14 Cr and restoring its going-concern status. Asset quality has seen a massive improvement, with GNPA declining to 4.38% from 12.58% in the previous year, and credit costs falling for the fifth consecutive quarter to ₹79 Cr. The company's capital position is exceptionally strong with a CRAR of 38.80%, supported by a successful rights issue and ₹2,522 Cr raised in Q3. The 'new book' now accounts for 79% of the portfolio with a high collection efficiency of 99.56%.
Key Highlights
Restored profitability with a PAT of ₹14 Cr in Q3 FY26 and a total income of ₹424 Cr.
GNPA significantly improved to 4.38% from 12.58% YoY; NNPA stands at 0.63%.
Capital Adequacy Ratio (CRAR) remains robust at 38.80% with a net worth of ₹2,331 Cr.
Disbursements increased to ₹1,594 Cr in Q3 FY26 from ₹1,298 Cr in Q2 FY26.
Credit costs declined for the fifth consecutive quarter to ₹79 Cr, down from ₹571 Cr in Q3 FY25.
💼 Action for Investors
Investors should note the successful turnaround and restoration of going-concern status, which significantly de-risks the stock. The sharp improvement in asset quality and strong capital buffers suggest a positive trajectory, though monitoring the performance of the new loan book remains essential.
Fusion Finance Returns to Profitability in Q3 FY26 with PAT of ₹14 Cr; GNPA Improves to 4.38%
Fusion Finance reported a significant turnaround in Q3 FY26, posting a Profit After Tax of ₹14 crore compared to a loss of ₹22 crore in the previous quarter. The company saw a 23% QoQ growth in disbursements to ₹1,594 crore, while Net Interest Margins (NIM) expanded to 11.32%. Asset quality showed improvement with Gross NPA declining to 4.38% from 4.61% in Q2 FY26. Crucially, the 'Going Concern' caveat previously mentioned by auditors has been removed, and the company maintains a very high capital adequacy ratio of 38.80%.
Key Highlights
Reported PAT of ₹14 Cr in Q3 FY26, recovering from a ₹22 Cr loss in Q2 FY26.
Disbursements grew 23% QoQ to ₹1,594 Cr, the highest level in the last five quarters.
Gross NPA improved to 4.38% from 4.61% QoQ, with Net NPA standing at 0.63%.
Net Interest Margin (NIM) increased to 11.32% while cost of funds decreased to 10.28%.
Capital Adequacy Ratio (CRAR) remains robust at 38.80% with total liquidity of ₹1,783 Cr.
💼 Action for Investors
The removal of the 'Going Concern' caveat and the return to profitability mark a major recovery milestone for the company. Investors should watch for continued stabilization in the microfinance sector and sustained collection efficiency to confirm a long-term trend.
Fusion Finance Returns to Profitability in Q3 FY26 with ₹14 Cr PAT; GNPA Improves to 4.38%
Fusion Finance reported a significant turnaround in Q3 FY26, posting a Profit After Tax (PAT) of ₹14 crore compared to a loss of ₹22 crore in Q2 FY26. The company saw a 23% QoQ growth in disbursements to ₹1,594 crore, marking its highest level in five quarters. Asset quality improved as Gross NPA declined to 4.38% from 4.61% QoQ, while Net Interest Margins (NIM) expanded to 11.32%. Crucially, the 'Going Concern' caveat previously issued by auditors has been removed, signaling improved financial stability.
Key Highlights
Turned profitable with a PAT of ₹14 crore in Q3 FY26 versus a loss of ₹22 crore in Q2 FY26.
Loan disbursements grew 23% QoQ to ₹1,594 crore, the highest in the last five quarters.
Gross NPA improved to 4.38% from 4.61% QoQ, with a strong Stage 3 provision coverage of ~86%.
Net Interest Margin (NIM) expanded to 11.32% from 10.85% in the previous quarter.
Capital Adequacy Ratio (CRAR) remains robust at 38.80% following a successful Rights Issue.
💼 Action for Investors
The return to profitability and the removal of the 'Going Concern' audit caveat are major positive milestones for the company. Investors should watch for continued stability in credit costs and collection efficiencies to confirm a sustained long-term recovery.
Fusion Finance Returns to Profitability in Q3 FY26 with PAT of ₹14 Cr; GNPA Improves to 4.38%
Fusion Finance reported a significant turnaround in Q3 FY26, posting a Profit After Tax (PAT) of ₹14 crore compared to a loss of ₹22 crore in the previous quarter. Loan disbursements grew 23% QoQ to ₹1,594 crore, marking the highest level in five quarters, while Net Interest Margins (NIM) improved to 11.32%. Asset quality showed signs of recovery with Gross NPA declining to 4.38% and credit costs reducing to ₹79 crore. Notably, the 'Going Concern' caveat has been removed, and the company maintains a very strong capital adequacy ratio of 38.80%.
Key Highlights
Returned to profitability with a PAT of ₹14 crore in Q3 FY26 vs a loss of ₹22 crore in Q2 FY26
Disbursements reached a five-quarter high of ₹1,594 crore, representing a 23% QoQ growth
Gross NPA improved to 4.38% from 4.61% in Q2 FY26, with a high Stage 3 provision coverage of 86%
Net Interest Margin (NIM) expanded to 11.32% from 10.85% in the previous quarter
Robust liquidity position with ₹1,783 crore in cash and equivalents, representing 23.01% of total assets
💼 Action for Investors
The return to profitability and the removal of the 'Going Concern' caveat are major positive triggers for the stock. Investors should watch for continued stability in asset quality and AUM growth to confirm a long-term recovery trend.
Fusion Finance Q3 FY26: Returns to Profit with ₹14 Cr PAT; GNPA Improves to 4.38%
Fusion Finance reported a turnaround in Q3 FY26 with a Profit After Tax (PAT) of ₹14 crore, recovering from a ₹22 crore loss in the previous quarter. Loan disbursements grew 23% QoQ to ₹1,594 crore, and Net Interest Margins (NIM) expanded to 11.32% from 10.85%. Asset quality showed improvement as Gross NPA declined to 4.38% from 4.61%, while the 'Going Concern' caveat was officially removed. The company maintains a very strong capital position with a CRAR of 38.80% following its recent Rights Issue.
Key Highlights
Returned to profitability with Q3 PAT of ₹14 crore vs ₹22 crore loss in Q2 FY26
Disbursements grew 23% QoQ to ₹1,594 crore, the highest level in five quarters
Gross NPA improved to 4.38% from 4.61% QoQ; Net NPA stands at 0.63%
Net Interest Margin (NIM) increased to 11.32% from 10.85% in the previous quarter
Capital Adequacy Ratio (CRAR) remains very healthy at 38.80% with liquidity of ₹1,783 crore
💼 Action for Investors
The return to profitability and removal of the 'Going Concern' caveat are significant recovery signals for the stock. Investors should monitor the sustainability of asset quality improvements and credit cost reductions in the upcoming quarters.
Fusion Finance Appoints Krishan Gopal as CFO; Amandeep Singh Steps Down as Interim CFO
Fusion Finance Limited has appointed Mr. Krishan Gopal as the Chief Financial Officer (CFO) and Key Managerial Personnel effective January 17, 2026. Mr. Gopal brings over 20 years of experience in finance, treasury, and fundraising, having previously served as CFO at Aye Finance, DMI Finance, and Satin Creditcare Network. He succeeds Mr. Amandeep Singh, who resigned from his interim role following this permanent appointment. This leadership update is intended to strengthen the company's financial agility and support its long-term growth ambitions.
Key Highlights
Mr. Krishan Gopal appointed as permanent CFO and KMP effective January 17, 2026
New CFO brings over 20 years of experience in finance, treasury, and strategic planning
Previous leadership roles include CFO at Aye Finance, DMI Finance, and Satin Creditcare Network
Mr. Amandeep Singh resigned as Interim CFO following the permanent appointment
The appointment was recommended by the Nomination and Remuneration Committee and the Audit Committee
💼 Action for Investors
Investors should view the transition from an interim to a highly experienced permanent CFO as a positive move for management stability. Monitor the impact of the new CFO's expertise on the company's fundraising costs and treasury management in future earnings.
Fusion Finance Appoints Krishan Gopal as CFO; Brings 20+ Years of Financial Leadership Experience
Fusion Finance Limited has appointed Mr. Krishan Gopal as its Chief Financial Officer and Key Managerial Personnel, effective January 17, 2026. Mr. Gopal succeeds Mr. Amandeep Singh, who was serving as the Interim CFO. With over 20 years of experience, Mr. Gopal has previously held CFO positions at Aye Finance, DMI Finance, and Satin Creditcare Network. This appointment is intended to strengthen the company's treasury, fundraising, and strategic planning capabilities as it pursues long-term growth.
Key Highlights
Mr. Krishan Gopal appointed as CFO and Key Managerial Personnel effective January 17, 2026.
Brings over 20 years of experience in finance, treasury, fundraising, and investor relations.
Previous roles include CFO at Aye Finance, Group CFO at DMI Finance, and CFO at Satin Creditcare.
Mr. Amandeep Singh steps down from the Interim CFO position following this permanent appointment.
💼 Action for Investors
Investors should view the transition from an interim to a permanent, highly experienced CFO as a positive move for leadership stability. Monitor the company's future fundraising and treasury management under the new leadership.
Fusion Finance Appoints Krishan Gopal as CFO; Amandeep Singh Resigns as Interim CFO
Fusion Finance Limited has appointed Mr. Krishan Gopal as its permanent Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective January 17, 2026. Mr. Gopal brings over 20 years of extensive experience in finance, treasury, and fundraising from previous roles at Aye Finance, DMI Finance, and PNB Housing Finance. Following this appointment, Mr. Amandeep Singh has resigned from his position as Interim CFO. This leadership transition is intended to strengthen the company's financial agility and support its long-term growth ambitions.
Key Highlights
Mr. Krishan Gopal appointed as permanent CFO and KMP effective January 17, 2026
New CFO brings over 20 years of experience in strategic planning, treasury, and investor relations
Previous leadership roles held at Aye Finance, DMI Finance, Satin Creditcare, and PNB Housing Finance
Mr. Amandeep Singh steps down as Interim CFO following the permanent appointment
The appointment was recommended by the Nomination and Remuneration Committee and Audit Committee
💼 Action for Investors
Investors should view the appointment of a permanent, highly experienced CFO as a positive step toward management stability. Monitor the company's future fundraising and treasury management efficiency under the new leadership.
Fusion Finance Shareholders Approve Sanjay Garyali as MD with 99.85% Majority
Fusion Finance Limited has successfully passed two key special resolutions via postal ballot with overwhelming shareholder support. The appointment of Mr. Sanjay Garyali as the Managing Director was approved with 99.85% of the votes cast in favor. Additionally, shareholders approved amendments to the company's Articles of Association with nearly 100% support. The total voter turnout represented 62.31% of the total voting power, indicating strong participation from the promoter group and institutional investors.
Key Highlights
Appointment of Mr. Sanjay Garyali as Managing Director approved with 99.85% votes in favor
Amendment to the Articles of Association (AOA) passed with 99.99% shareholder approval
Total voter turnout recorded at 62.31% of total voting power with 81.97 million votes cast
Promoter group provided 100% support for both resolutions, casting 68.73 million votes
Public institutional investors showed high confidence with 13.05 million votes cast in favor
💼 Action for Investors
Investors should view the formalization of the Managing Director's appointment as a positive step toward leadership stability. Monitor the company's strategic direction and operational performance under the new MD's tenure.
Fusion Finance Completes ₹800 Crore Rights Issue with 99% Final Call Receipt
Fusion Finance has successfully concluded its ₹800 crore Rights Issue, receiving approximately 99% of the First and Final Call money. The company collected ₹395.30 crore in this final stage at a call price of ₹65.50 per share. This successful capital raise converts partly paid shares into fully paid equity, significantly strengthening the company's capital base. As of September 30, 2025, the company's capital adequacy stood at 31.31%, which will be further bolstered by this infusion.
Key Highlights
Successfully completed the full ₹800 crore capital raise through a Rights Issue
Received ~99% of the First and Final Call money, totaling ₹395.30 crore
Capital Adequacy Ratio stood at a strong 31.31% as of September 30, 2025
Fully paid-up equity shares (FV ₹10) commenced trading on NSE and BSE from January 6, 2026
Company manages an AUM of ₹7,038 crore with a network of 1,545 branches across 22 states
💼 Action for Investors
The successful completion of the rights issue provides Fusion Finance with a robust capital cushion to fund its long-term growth and expansion plans. Investors should view this as a positive signal of shareholder confidence and improved financial flexibility for the NBFC-MFI.
Fusion Finance Collects Rs 395.30 Cr via Rights Issue Final Call with 99% Success Rate
Fusion Finance Limited has successfully completed the collection of the First and Final Call money for its Rights Issue. The company received a total of Rs 395.30 Crores, which represents approximately 99% of the total amount called from shareholders. Following this, the partly paid-up shares have been converted into fully paid-up equity shares of Rs 10 each. These shares are set to commence trading on the NSE and BSE as fully paid-up securities effective January 06, 2026.
Key Highlights
Total amount of Rs 395.30 Crores received through the First and Final Call
High collection efficiency achieved with approximately 99% of the called amount paid
Call money was priced at Rs 65.50 per partly paid-up equity share
Converted fully paid-up shares will be available for trading from January 06, 2026
💼 Action for Investors
The high collection rate reflects strong investor confidence and successfully bolsters the company's capital position. Shareholders should note the transition of their holdings to fully paid-up status and the commencement of trading under the new ISIN.
Fusion Finance Allots NCDs Worth ₹150 Crores at 10.95% Coupon Rate
Fusion Finance Limited has successfully allotted 15,000 senior secured Non-Convertible Debentures (NCDs) to raise ₹150 crores via private placement. The issue includes a green shoe option of ₹50 crores and carries a coupon rate of 10.95% per annum, payable monthly. These debentures have a tenure of 30 months and are scheduled to mature on June 29, 2028. The capital raised will likely be used to support the company's microfinance lending operations and manage liquidity.
Key Highlights
Allotment of 15,000 senior secured NCDs with a face value of ₹1,00,000 each
Total fundraise of ₹150 crores, including a ₹50 crore green shoe option
Fixed coupon rate of 10.95% per annum with monthly interest payments
Instrument tenure of 30 months with maturity date set for June 29, 2028
Secured by a 1.10x charge over identified book debts and receivables
💼 Action for Investors
Investors should monitor the company's ability to maintain margins given the 10.95% borrowing cost. This fundraise ensures liquidity for growth, but the interest rate reflects the current high-yield environment for microfinance institutions.
Fusion Finance Allots NCDs Worth Rs 150 Crores at 10.95% Interest Rate
Fusion Finance Limited has successfully allotted 15,000 senior, secured, rated, and listed Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 150 crores, which includes a green shoe option of Rs 50 crores. These NCDs carry a coupon rate of 10.95% per annum with monthly interest payments and a tenure of 30 months. The capital raised will likely support the company's lending operations and liquidity management for its microfinance business.
Key Highlights
Allotment of 15,000 NCDs with a face value of Rs 1,00,000 each totaling Rs 150 crores
Fixed coupon rate of 10.95% per annum to be paid on a monthly basis
Instrument tenure is 30 months with a final maturity date of June 29, 2028
Secured by a first ranking exclusive charge of 1.10x over identified receivables
Includes a green shoe option of Rs 50 crores which was fully utilized within the total issue
💼 Action for Investors
Investors should view this as a positive step for liquidity management and growth capital. Monitor the company's ability to maintain margins given the 10.95% cost of these funds.
Fusion Finance Allots NCDs Worth Rs 150 Crore at 10.95% Interest
Fusion Finance Limited has successfully allotted 15,000 senior, secured, rated, and listed Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 150 crore, which includes a green shoe option of Rs 50 crore. These debentures carry a fixed coupon rate of 10.95% per annum with interest payable monthly. The instruments have a tenure of 30 months and are secured by a 1.10x charge on the company's receivables.
Key Highlights
Allotment of 15,000 NCDs with a face value of Rs 1,00,000 each totaling Rs 150 crore
Coupon rate fixed at 10.95% per annum with a monthly payment schedule
Tenure of 30 months from the date of allotment with maturity on June 29, 2028
Secured by a first ranking exclusive charge of 1.10x over identified book debts and receivables
The NCDs will be listed on the wholesale debt market segment of BSE Limited
💼 Action for Investors
This fundraise strengthens the company's liquidity position for its microfinance lending operations. Investors should monitor how the 10.95% borrowing cost impacts net interest margins in the upcoming quarters.
Fusion Finance Assigned CARE A (RWN) Rating for ₹150 Cr NCD; ₹1,500 Cr Facilities on Watch
CARE Ratings has assigned a 'CARE A' rating to Fusion Finance's new ₹150 crore NCDs while maintaining a 'Rating Watch with Negative Implications' (RWN) on ₹1,500 crore of bank facilities. The negative watch is primarily due to a breach of financial covenants on borrowings totaling ₹2,077 crore as of September 30, 2025, which makes them technically repayable on demand. While the company has secured waivers for ₹1,331 crore, it is still awaiting waivers for the remaining ₹746 crore. Despite these challenges, the company maintains a liquidity buffer of ₹892 crore and is completing an ₹800 crore rights issue to bolster its capital position.
Key Highlights
CARE A (RWN) rating assigned to ₹150 crore NCDs and maintained for ₹1,500 crore bank facilities
Breach of financial covenants for ₹2,077 crore in borrowings as of September 30, 2025
Company has secured waivers for ₹1,331 crore but is pending waivers for ₹746 crore
Rights issue of ₹800 crore underway, with ₹400 crore already raised and ₹400 crore expected in Dec 2025
Liquidity remains comfortable at ₹892 crore with additional unavailed lines of ₹2,730 crore
💼 Action for Investors
Investors should closely monitor the company's ability to secure the remaining ₹746 crore in lender waivers and the successful completion of the second tranche of the rights issue. The 'Rating Watch with Negative Implications' and auditor's 'going concern' note indicate significant near-term credit and operational risks.