- October 28, 2022
- Posted by: Bastion team
- Category: World News
Fusion Micro Finance is engaged in providing financial services to women entrepreneurs belonging to the economically and socially deprived section of society.
The issue consists of fresh equity shares worth Rs 600 crore with an offer for sale (OFS) of up to 13,695,466 equity shares from existing shareholders and promoters of the company.
Promoter Devesh Sachdev is looking to sell up to 6.5 lakh equity shares, Mini Sachdev up to 1 lakh equity shares, and Creation Investments Fusion and Honey
are looking to offload 14 lakh equity shares each.
Oikocredit Ecumenical Development Cooperative Society UA will sell around 66.1 lakh shares, while Global Impact Funds SCA SiCAR will sell around 35.4 lakh shares.
The New Delhi-headquartered shadow lender’s issue can be subscribed till Friday, November 4 with a bid of a minimum of 40 equity shares and then in its multiple thereof.
The net proceeds from the fresh issue will be used towards augmenting its capital base to meet future capital requirements, the lender said.
Launched in 2010, Fusion Microfinance provides financial services to unserved and underserved women in rural and peri-rural areas across India. Its gross asset under management was at Rs 73.89 billion, up 59.6% from the year-ago quarter.
It has 2.90 million…