PE Fund Investments
Warburg Pincus, Creation invest in Fusion Finance’s Rs.800-Cr rights issue
Existing private equity investors Creation Investments (via Creation Investments Fusion LLC) and Warburg Pincus LLC (via Honey Rose Investment Ltd) participated in Delhi-based, publicly listed MFI Fusion Finance's INR 800 crore rights issue. The issue consists of 6,11,000 partly paid-up equity shares priced at INR 131 per share.IIFL Capital Services served as lead manager to the issue, with CRISIL Ratings as the monitoring agency. Axis Bank acted as banker to the issue.The funds will be used by the company for enhancing its capital adequacy ratio, for strengthening the company’s balance sheet.Founded in 2010, Fusion Finance , a NBFC-MFI, operates a joint liability group lending model. The company, focusing on women in rural and semi-urban areas, currently operates in 22 states and claims 3.66 million active customers.
Between Jun-10 andDec-19, Fusion Microfinance had attracted about USD 202- M from Incofin, Abler Nordic, BIO, Oikocredit, Creation Investments, GAWA Microfinance Fund, Warburg Pincus, othersFor FY24, Fusion Microfinance had reported about INR 2317 Cr in Operating Income and about INR 505 Cr in PAT.
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