Fusion Finance Limited has made Rights Issue involving up to 6,10,58,392 partly paid-up equity shares aggregating to ~₹799.86 crores.
Cyril Amarchand Mangaldas advised Fusion Finance and its promoters - Warburg Pincus and Creation Investments regarding their participation in the rights issue.
The transaction team was led by Vishal Yaduvanshi (Partner, Regional Co-Head Markets Practice – Northern Region) Abhyuday Bhotika (Partner), with the support from Mihir Mathur (Senior Associate), Rajshree Agarwal, Nimisha Sharma, Kaartikay Agarwal and Sanskar Modi (Associate).
Additionally, Vasudha Goenka (Partner) and Navjot Chhabra (Associate) advised on certain aspects of securities laws.
JSA advised IIFL Capital Services Limited, the Lead Manager, in connection with the rights issue.
The transaction team was led by Madhurima Mukherjee Saha (Lead Partner) and included Anuj Pethia (Partner), Bhavini Mohan (Senior Associate), and Kumar Shubham, Anshuman Singh, and Devina Chopra (Associates).
The issue offered 6.10 crore partly paid-up equity shares at ₹131 per share (₹10 face value + ₹121 premium) in a 55:91 rights ratio to eligible shareholders as of April 4, 2025. The subscription window ran from April 15 to April 25, with ₹65.50 payable on application and the balance due in future calls by March 2027
Prominent investors, including Warburg Pincus affiliate Honey Rose Investment and Creation Investments, participated in the offering. Proceeds will be used to bolster the company’s capital adequacy and support its microfinance expansion. Following the announcement, the company’s stock rose over 7%, reflecting positive market sentiment.
Fusion Finance Limited is a non-banking financial company (NBFC), and microfinance institution focused on providing financial services to underserved and unserved women across rural, semi-urban, and urban areas in India, with household incomes of up to ₹300,000.
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