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The rights issue comprised up to 6.11 crore partly paid-up equity shares at a price of Rs.131 per, aggregating Rs 799.86 crore. The proceeds from the issue will enhance the company’s capital adequacy, which stood at 22.2% at the end of December last year.
Fusion suffered net losses in all the first three quarters of FY25 due to high provisions to cover severe asset quality stress. The net loss widened to Rs 719 crore for the third quarter as compared with Rs 305 crore and Rs 36 crore in the preceding two quarters respectively. Its gross non-performing assets ratio rose to 12.6% at the end of December.
Warburg held 32.83% in Fusion through its affiliate as of December-end last year. Chicago-based Creation Investments, also listed as a promoter of Fusion, held 19.78%. The company founder and managing director Devesh Sachdev and his family held 5.1%.
Fusion’s share price jumped 8.4% Monday to 165.51 on BSE.
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https://economictimes.indiatimes.com/markets/stocks/news/fusion-finances-rs-800-crore-rights-issue-fully-subscribed/articleshow/121116313.cms
