Fusion Finance to make higher ECL provisioning, launches CEO search; shares tank 10%

Fusion Finance anticipates an increase in its Estimated Credit Loss provisioning to Rs 500-550 crore in Q2FY25 from Rs 348 crore in Q1FY25. The company also announced a leadership change with plans to appoint a new CEO. Shares fell 10% following the announcement, and the company is considering raising up to Rs 550 crore in equity capital.