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Fusion Microfinance Ltd (FML) is planning an initial public offer comprising fresh issue of equity shares aggregating up to ₹600 crore and offer for sale of up to about 2.19 crore equity shares.
As per the company’s draft red herring prospectus (DRHP), it may undertake pre-IPO placement, in consultation with the Book Running Lead Managers, for cash consideration aggregating up to ₹120 crore.
The company, which has its registered office in New Delhi and corporate office at Gurugram, said the proceeds from the fresh issue of equity shares will augment its capital base.
FML’s total revenue from operations in FY21 was at ₹856 crore (₹720 crore in FY20). Profit for the year was lower at ₹44 crore (₹70 crore), as per the DRHP.
As of March 31, FML’s total assets under management was ₹4,638 crore (₹3,606.52 crore as at March-end 2020).
Promoters are holding 85.21 per cent of the pre-offer capital of FML -- Honey Rose Investment Ltd (48.65 per cent), Creation Investments Fusion, LLC (18.17 per cent), Creation Investments Fusion II, LLC (11.80 per cent) and Devesh Sachdev (6.59 per cent).
Selling Shareholders (other than Honey Rose Investment Ltd, Creation Investments Fusion, LLC and Devesh Sachdev) are holding 12.03 per cent of the pre-offer capital of FML -- Oikocredit Ecumenical Development Co-operative Society U.A (7.83 per cent) and Global Financial Inclusion Fund (4.20 per cent).
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