The Board of Directors of Fusion Finance Limited (the "Board") at its meeting held on December 4, 2024, approved the offer and issuance of equity shares of the Company on a partly paid-up basis through the rights issue ("Rights Equity Shares") for an amount not exceeding ?800 crore, by way of a rights issue (the "Rights Issue"), in accordance with the Companies Act, 2013, as amended and the rules made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, other applicable laws, and in furtherance to our prior intimation letter dated March 26, 2025 regarding the meeting of the Board held on March 29, 2025.
The Board at its meeting held today, i.e. on March 29, 2025 has considered and approved the following terms of the Rights Issue:
a. Total number of Rights Equity Shares and Rights Issue size: 6,10,58,392 Rights Equity Shares each on partly paid-up basis for an amount aggregating to ? 799.86 crore (assuming full subscription and payment of call monies).
b. Rights Issue Price: ? 131 per Rights Equity Share (including a premium of ? 121 per Rights Equity Share), to be payable as follows:
On Application - Rs. 5.00 (Face Value) and Rs. 60.50 (Premium).
One or more subsequent Call(s), with terms and conditions such as the number of Calls and the timing and quantum of each Call as may be decided by our Board/ Rights Issue Committee from time to time to be completed on or prior to March 31, 2027, or such other extended timelines - Rs. 5.00 (Face Value) and Rs. 60.50 (Premium).
c. Record date: April 4, 2025
d. Rights Issue period:
1. Rights Issue Opening Date: Tuesday, April 15, 2025;
2. Last date for on-market renunciation: April 21, 2025;
3. Last date for off-market: Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat accounts of the Renouncees on or prior to the Rights Issue Closing Date; and
4. Rights Issue Closing Date: Friday, April 25, 2025.
e. Outstanding Equity Shares:
1. prior to the Rights Issue: 10,10,23,885 Equity Shares of the Company;
2. post Rights Issue#: 16,20,82,277 Equity Shares of the Company.
#Assuming full subscription and payment of call monies.
f. Rights entitlement ratio: 55 (fifty five) Rights Equity Share for every 91 (ninety one) Equity Shares of face value of ?10 each held on the Record Date i.e. April 4, 2025.
Shares of Fusion Finance Limited was last trading in BSE at Rs. 140.20 as compared to the previous close of Rs. 146.70. The total number of shares traded during the day was 85526 in over 2486 trades.
The stock hit an intraday high of Rs. 148.45 and intraday low of 137.35. The net turnover during the day was Rs. 12095148.00. |
