Fusion Microfinance IPO listing price: Shares make weak stock market debut - check stop loss | Fusion Microfinance Share Price NSE, BSE

Fusion Microfinance IPO listing date and time, Fusion Microfinance Share Price NSE BSE: Shares of Fusion Microfinance made a weak stock market debut today, November 15. On NSE and BSE, shares listed at a discount of more than 2 per cent from the issue price of Rs 368. The stock of Fusion Microfinance listed and admitted to dealings on the Exchange in the list of 'B' group of securities, as per BSE notice.

Fusion Microfinance Share Price NSE, BSE

Fusion Microfinance shares started trading at a discount of 2.31 per cent at Rs 359.50 apiece on NSE. On BSE, Fusion Microfinance shares listed at a discount of 2.40 per cent at Rs 360.50.

The IPO of the New Delhi-based company opened on November 2 and investors were able to subscribe to it till November 4. The company had fixed a price band of Rs 350-368 a share for its Rs 1,104 crore IPO. Fusion Microfinance provides financial services to women in rural and semi-urban areas. The public issue was subscribed 2.95 times on the last day of subscription. 

At 10:10 AM, Fusion Microfinance stock quoted Rs 349 apiece, declining more than 5 per cent on NSE.

According to data available with the NSE, Fusion Microfinance IPO received bids for 6,30,36,040 shares against 2,13,75,525 shares on offer. The company issued the shares a the upper band of Rs 368.

The quota meant for Qualified Institutional Buyers (QIBs) received 8.59 times subscription, while the non-institutional investors category was subscribed 1.38 times and Retail Individual Investors (RIIs) 51 per cent. The IPO had a fresh issue of up to Rs 600 crore and an offer for sale of up to 1,36,95,466 equity shares.

Fusion Microfinance Share Stop Loss By Anil SInghvi 

According to Zee Business Managing Editor Anil Singhvi, investors should place a stop loss at Rs 350. He, however, added that long-term investors can hold the stock as the company is fundamentally strong. 

Earlier, Singhvi had predicted that the listing price could be below the issue price. He had said that listing could take place around Rs 360 apiece.

Fusion Microfinance IPO Review By Anil Singhvi

Zee Business Managing Editor Anil Singhvi had earlier suggested viewers to subscribe Fusion Microfinance IPO for returns in the long term. He had said that the company has very experienced and clean promoters and has a very strong growth outlook.

According to the data of the last three years, he had said, the company has had very strong growth. It is a profit-making company and has good numbers and ratings. However, it has a lot of competition in the sector and valuation should have been more attractive.

"One should subscribe to this IPO for returns in the long term. If they can make some money in the short term, nothing like that. There are chances of listing gains as well but don't expect major gains," Singhvi had said.

Ahead of the IPO, Fusion Microfinance allotted 89,99,943 equity shares to anchor investors at Rs 368 apiece, aggregating the transaction size to Rs 331.2 crore, according to an exchange filing.

Click Here For Latest Updates On Stock Market | Zee Business Live

How have new-gen companies like Paytm, Zomato, Nykaa and others performed in Q2