FUSION · price
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Awaiting price reaction for this filing.
CRISIL Ratings, the appointed Monitoring Agency, has submitted its report on the use of proceeds from Fusion Finance's Rs. 799.86 crore Rights Issue, which opened in April 2025 at Rs. 131 per share. The issue is partly paid-up, with shareholders having remitted Rs. 65.50 per share on application (Rs. 399.93 crore received so far), and the balance Rs. 65.50 per share (another Rs. 399.93 crore) to be called by March 31, 2027. During Q2 FY26, the company utilized Rs. 382.41 crore out of the Rs. 783.34 crore net proceeds earmarked for augmenting its capital base, with the funds deployed for onward lending. Issue expenses of Rs. 16.52 crore remain fully unutilized. As of September 30, 2025, Rs. 17.52 crore of unutilized proceeds were parked in an Axis Bank designated monitoring account, and no deviation from the disclosed objects was reported.
The report confirms that Rights Issue proceeds are being deployed on track and as disclosed, with no red flags, which is a positive signal for shareholders monitoring capital discipline. The large unutilized balance (Rs. 417.45 crore) and pending second call money indicate further capital is available to fuel loan book growth, but also that deployment is paced and dependent on the company's expansion plans.