New Delhi: Fusion Micro Finance made a muted debut on Dalal Street as the company got listed at Rs 360.50 on Tuesday, a discount of 2% to its issue price of Rs 368 on BSE.
The young microfinance player debuted at a discount of 2% at Rs 359.50 as against the given issue price on the National Stock Exchange (NSE).
Ahead of its listing on Dalal Street, shares of Fusion Microfinance were trading at a discount of Rs 5 in the grey market.
The initial public offering of ran between November 2-4 wherein the company sold its shares in the range of Rs 350-368 apiece to raise Rs 1,104 crore.
The issue was subscribed 2.95 times, with the quota for qualified institutional bidders (QIB) getting 8.6 times subscription, whereas the HNI portion was booked 1.38 times. Retail investors made just 51% bids for their portion.
Incorporated in 1994, Fusion Micro Finance is engaged in providing financial services to women entrepreneurs belonging to the economically and socially deprived section of society.
It has 2.90 million active borrowers with a network of 966 branches and 9,262 permanent employees spread across 377 districts and 19 states and union territories.