Fusion CX IPO
Fusion CX IPO is a book-building public issue of approximately ₹702 crore.
The issue is a combination of a fresh issue of 1,73,01,038 shares aggregating to ₹500 crore and an Offer for Sale (OFS) of 69,89,619 shares aggregating to ₹202 crore.
The IPO will open for subscription on 14 October 2026 and close on 16 October 2026. The allotment is expected to be finalized on 19 October 2026. The shares are proposed to be listed on NSE and BSE, with a tentative listing date of 22 October 2026.
The price band has been fixed at ₹275 to ₹289 per share. Investors can apply for a minimum of 51 shares, requiring an investment of ₹14,739 at the upper price band.
Fusion CX IPO Details
Fusion CX Ltd. is coming to the primary market with a book-building IPO of approximately ₹702 crore. The issue comprises a fresh issue of 1,73,01,038 shares aggregating to ₹500 crore and an Offer for Sale of 69,89,619 shares aggregating to ₹202 crore.
The IPO price band is ₹275 to ₹289 per share, and the face value of each equity share is ₹1. Investors can bid for a minimum of 51 shares and thereafter in multiples of the specified lot size.
At the upper price band of ₹289 per share, one retail lot of 51 shares requires an investment of ₹14,739.
The company is proposed to be listed on NSE and BSE. The tentative allotment date is 19 October 2026, while the tentative listing date is 22 October 2026.
Fusion CX IPO Details
| Particulars | Details |
|---|---|
| Company Name | Fusion CX Ltd. |
| IPO Open Date | 14 October 2026 |
| IPO Close Date | 16 October 2026 |
| IPO Size | ₹702 Crore |
| Price Band | ₹275 to ₹289 per share |
| Face Value | ₹1 per share |
| Lot Size | 51 Shares |
| Issue Type | Book Building |
| Issue Structure | Fresh Issue + Offer for Sale |
| Listing Exchange | NSE and BSE |
| Total Issue Size | 2,42,90,657 Shares |
| Fresh Issue | 1,73,01,038 Shares aggregating to ₹500 Crore |
| Offer for Sale | 69,89,619 Shares aggregating to ₹202 Crore |
| Minimum Retail Investment | ₹14,739 at the upper price band |
| Expected Allotment | 19 October 2026* |
| Refund / Unblocking | 21 October 2026* |
| Demat Credit | 21 October 2026* |
| Tentative Listing Date | 22 October 2026* |
| Market Cap at Upper Price | ₹4,172.01 Crore |
| Registrar | KFin Technologies Ltd. |
| Book Running Lead Managers | Nuvama Wealth Management Ltd.; IIFL Capital Services Ltd.; Motilal Oswal Investment Advisors Ltd. |
Fusion CX IPO Issue Size
| Issue Component | Shares | Approx. Amount |
|---|---|---|
| Total Issue | 2,42,90,657 | ₹702 Crore |
| Fresh Issue | 1,73,01,038 | ₹500 Crore |
| Offer for Sale | 69,89,619 | ₹202 Crore |
The fresh issue proceeds are intended to support the company’s stated objectives, including repayment or prepayment of certain borrowings and investments in technology tools through its step-down subsidiaries. The OFS proceeds will go to the selling shareholders.
Fusion CX IPO Timeline
| Event | Date |
|---|---|
| IPO Opens | Wednesday, 14 October 2026 |
| IPO Closes | Friday, 16 October 2026 |
| Allotment | Monday, 19 October 2026* |
| Refund / Unblocking | Wednesday, 21 October 2026* |
| Shares Credited to Demat | Wednesday, 21 October 2026* |
| Listing | Thursday, 22 October 2026* |
Fusion CX IPO Issue Reservation
| Investor Category | Reservation |
|---|---|
| QIB | Not less than 75% |
| Retail | Not more than 10% |
| NII | Not more than 15% |
Fusion CX IPO Investor Category
| Category | Investment Limit | Application Basis |
|---|---|---|
| Retail Individual Investor (RII) | Up to ₹2 Lakhs | Retail category |
| Small HNI (S-HNI) | ₹2 Lakhs to ₹10 Lakhs | Non-Institutional Investor |
| Big HNI (B-HNI) | Above ₹10 Lakhs | Non-Institutional Investor |
| Qualified Institutional Buyers (QIB) | As per applicable IPO rules | Institutional category |
Fusion CX IPO Lot Size
Investors can bid for a minimum of 51 shares and thereafter in multiples of 51 shares. The investment amounts below are calculated using the upper price band of ₹289 per share.
| Investor Category | Lots | Shares | Investment at ₹289 |
|---|---|---|---|
| Retail Minimum | 1 | 51 | ₹14,739 |
| Retail Maximum | 13 | 663 | ₹1,91,607 |
| S-HNI Minimum | 14 | 714 | ₹2,06,346 |
| S-HNI Maximum | 67 | 3,417 | ₹9,87,513 |
| B-HNI Minimum | 68 | 3,468 | ₹10,02,252 |
About Fusion CX Ltd.
Fusion CX Ltd., incorporated in 2004, is a customer experience (CX) and business process solutions provider. The company offers multichannel customer support through voice, email, chat, social media and messaging, helping businesses manage customer interactions across multiple channels.
The company also provides AI data infrastructure services, including data collection, data annotation, image and video labelling, and robotic teleoperations. Fusion CX combines human expertise with technology and proprietary AI tools to deliver multilingual, omnichannel customer engagement, improve operational efficiency and automate customer interactions.
Through its subsidiary, Omind Technologies, the company is developing AI-powered solutions for marketing, conversational AI, quality automation and workforce management.
As of 30 June 2026, Fusion CX operated 40 delivery centres across 13 countries, supported customers in 28 languages and served 208 customers, including 22 Fortune 1000 companies.
Its key industry verticals include telecom and utilities, healthcare and life sciences, high-tech and travel, banking, financial services and insurance (BFSI), and retail.
Fusion CX Products and Business Areas
| Business Area | Key Offering |
|---|---|
| Customer Experience Services | Customer support and engagement across voice and digital channels. |
| Omnichannel Customer Support | Customer interactions through voice, email, chat, social media and messaging. |
| AI Data Services | Data collection, data annotation, image labelling and video labelling. |
| Robotic Teleoperations | Services supporting robotic operations and related data workflows. |
| Conversational AI | AI-powered tools designed to support automated customer conversations. |
| Quality Automation | Technology-assisted quality monitoring and automation solutions. |
| Workforce Management | Technology solutions supporting workforce planning and operational management. |
| Marketing Technology | AI-enabled marketing solutions developed through Omind Technologies. |
Fusion CX Business Strengths
- Global Delivery Network: Operates 40 delivery centres across 13 countries, supporting customer operations across different time zones.
- AI-Driven Technology: Invests in proprietary technology and AI tools to improve customer engagement and operational efficiency.
- Omnichannel Capabilities: Provides customer support across voice, email, chat, social media and messaging channels.
- Customer Diversification: Serves customers across multiple industries, including telecom, healthcare, BFSI, retail, high-tech and travel.
- International Reach: Supports customers in 28 languages and operates in 13 countries.
- Acquisition Experience: Has experience acquiring and integrating businesses to expand its services and customer base.
- AI and Data Services: Offers data annotation, image and video labelling and other AI-related services alongside customer experience operations.
- Experienced Management: Benefits from management with industry knowledge and a workforce supporting its global operations.
Fusion CX IPO Objects of the Issue
The company proposes to utilise the net proceeds from the fresh issue towards the following stated objectives.
| # | Issue Objects | Estimated Amount |
|---|---|---|
| 1 | Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company and certain subsidiaries, including step-down subsidiaries. | ₹275.70 Crore |
| 2 | Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt. Ltd., for upgrading IT tools, including Arya and MindVoice. | ₹61.15 Crore |
| 3 | Pursuing inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes. | As stated in the offer documents |
Fresh Issue: Approximately ₹500 crore is proposed to be raised through the fresh issue. The amounts above are based on the issue-object figures provided for this post. Investors should refer to the final RHP for the detailed allocation, net proceeds and any applicable limits for general corporate purposes.
Offer for Sale: The OFS component of approximately ₹202 crore represents shares sold by existing shareholders. Proceeds from the OFS go to those selling shareholders and not to the company.
Fusion CX Financial Performance
Fusion CX’s consolidated financial information shows growth in income and profitability between FY2025 and FY2026. Based on the figures provided, total income increased from ₹1,352.03 crore in FY2025 to ₹1,851.83 crore in FY2026, while profit after tax increased from ₹74.31 crore to ₹169.84 crore.
| Particulars (₹ Crore) | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 |
| Total Income | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 |
| Profit After Tax | 55.70 | 169.84 | 74.31 | 36.26 |
| EBITDA | 95.09 | 329.87 | 197.78 | 104.62 |
| Net Worth | 610.84 | 552.46 | 354.58 | 270.15 |
| Reserves and Surplus | 607.01 | 547.97 | 345.76 | 258.54 |
| Total Borrowing | 238.13 | 266.86 | 306.73 | 210.61 |
Note: Financial figures are presented in ₹ crore. The June 2026 figures relate to the period ended 30 June 2026, while the March figures relate to the respective financial years. Refer to the company’s offer documents for accounting definitions and detailed financial statements.
Fusion CX IPO Key Performance Indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 |
|---|---|---|
| ROE | 8.99% | 30.30% |
| ROCE | 19.84% | 71.59% |
| Debt/Equity | 0.51 | 0.53 |
| RoNW | 9.12% | 30.74% |
| PAT Margin | 11.36% | 9.34% |
| EBITDA Margin | 20.03% | 19.48% |
| NAV | ₹48.35 | ₹43.73 |
| P/B | 5.98x | 6.61x |
Fusion CX IPO Valuation
At the upper price band of ₹289 per share, the company’s stated post-issue market capitalization is approximately ₹4,172.01 crore. The valuation figures below are based on the information provided for this IPO post.
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹13.37 | ₹15.43 |
| P/E | 21.62x | 18.73x |
| Market Cap at Offer Price | ₹3,672.01 Crore | ₹4,172.01 Crore |
Valuation ratios should be reviewed alongside the company’s business model, financial performance, outstanding borrowings, industry conditions and risks described in the RHP. The final valuation calculations should be checked against the offer documents before publication.
Fusion CX Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 99.03% | 81.82% |
| Public | 0.97% | 18.18% |
| Total | 100% | 100% |
Company Promoters: Pankaj Dhanuka, Kishore Saraogi, P N S Business Pvt. Ltd. and Rasish Consultants Pvt. Ltd.
Fusion CX IPO Offer for Sale – Selling Shareholders
| Name | Category | Estimated Amount |
|---|---|---|
| P.N.S. Business Pvt. Ltd. | Promoter | ₹101 Crore |
| Rasish Consultants Pvt. Ltd. | Promoter | ₹101 Crore |
| Total | – | ₹202 Crore |
Note: The amounts shown are estimated amounts based on the information provided. Refer to the final offer documents for the exact number of shares offered by each selling shareholder and the final OFS details.
Fusion CX IPO Pros and Cons
Potential Positives
- Established customer experience and business process solutions business with operations dating back to 2004.
- Global delivery network spanning 40 centres across 13 countries.
- Customer support capabilities covering 28 languages and multiple communication channels.
- Diversified customer base across telecom, healthcare, BFSI, retail, high-tech and travel.
- AI data infrastructure services, including data annotation, image and video labelling.
- Investment in AI-powered technology through Omind Technologies.
- Total income increased from ₹1,352.03 crore in FY2025 to ₹1,851.83 crore in FY2026, based on the supplied figures.
- Fresh issue proceeds are intended to support debt repayment, technology investment and other stated corporate objectives.
Key Risks / Considerations
- The company operates in a competitive customer experience and business process services industry.
- Dependence on major customers or industry sectors may affect operating performance if customer demand changes.
- International operations expose the business to currency, regulatory, geopolitical and country-specific risks.
- AI adoption and automation may require continued technology investment and adaptation to changing customer needs.
- The company has outstanding borrowings, although part of the fresh issue proceeds is proposed to be used for repayment or prepayment of specified borrowings.
- Financial performance and key performance indicators can vary between reporting periods.
- Investors should review the IPO valuation and compare it with relevant listed companies before applying.
- Investors should carefully examine the RHP and all disclosed risk factors before making an investment decision.
Fusion CX IPO Registrar & Lead Managers
IPO Registrar: KFin Technologies Ltd.
Book Running Lead Managers:
- Nuvama Wealth Management Ltd.
- IIFL Capital Services Ltd.
- Motilal Oswal Investment Advisors Ltd.
Fusion CX IPO Important Information
| Particulars | Details |
|---|---|
| Company | Fusion CX Ltd. |
| IPO Type | Book Building Issue |
| IPO Size | ₹702 Crore |
| Price Band | ₹275 – ₹289 |
| Face Value | ₹1 per share |
| Lot Size | 51 Shares |
| Minimum Investment | ₹14,739 |
| Fresh Issue | 1,73,01,038 Shares aggregating to ₹500 Crore |
| Offer for Sale | 69,89,619 Shares aggregating to ₹202 Crore |
| Total Issue Shares | 2,42,90,657 Shares |
| Listing | NSE and BSE |
| Registrar | KFin Technologies Ltd. |
| Lead Managers | Nuvama Wealth Management Ltd.; IIFL Capital Services Ltd.; Motilal Oswal Investment Advisors Ltd. |
| Market Cap at Upper Price | ₹4,172.01 Crore |
Fusion CX IPO Registrar Contact Details
| Particulars | Details |
|---|---|
| Registrar | KFin Technologies Ltd. |
| Phone | 040-79615565 |
| fusion.ipo@kfintech.com | |
| Website | KFin Technologies |
Fusion CX Ltd. Contact Details
Company Address:
Plot No. Y9, Block EP & GP,
Sector-5, Bidhan Nagar,
Salt Lake,
Kolkata, West Bengal – 700091
Phone: 033 4508 6520
Email: secretarial@fusioncx.com
Website: Fusion CX Official Website
Fusion CX IPO Quick Summary
Fusion CX IPO is a book-building public issue of approximately ₹702 crore. The IPO opens on 14 October 2026 and closes on 16 October 2026.
The price band is ₹275 to ₹289 per share, with a minimum lot size of 51 shares. At the upper price band, one retail lot requires an investment of ₹14,739.
The issue includes a fresh issue of 1,73,01,038 shares aggregating to ₹500 crore and an Offer for Sale of 69,89,619 shares aggregating to ₹202 crore.
Fusion CX provides customer experience and business process solutions, multichannel customer support, AI data services, data annotation, image and video labelling, and AI-powered technology solutions.
As of 30 June 2026, the company operated 40 delivery centres across 13 countries, supported customers in 28 languages and served 208 customers, including 22 Fortune 1000 companies.
Based on the supplied financial figures, the company reported total income of ₹1,851.83 crore and profit after tax of ₹169.84 crore for FY2026.
The allotment is expected on 19 October 2026, and the tentative listing date is 22 October 2026.
Fusion CX IPO FAQs
Fusion CX IPO Official Documents
Investors should refer to the company’s Red Herring Prospectus (RHP) for detailed information about the IPO, business, financial statements, promoters, issue objects, valuation and risk factors.
Review the official offer documents through the relevant IPO intermediaries and regulatory disclosures before applying.
Disclaimer
This Fusion CX IPO information is provided solely for educational and informational purposes. IPO investments are subject to market risks, and actual listing performance may differ from expectations. Investors should carefully review the company’s RHP, financial statements, risk factors and other official disclosures before making any investment decision. TradingMinds does not provide investment advice or guarantee IPO listing gains.
*Note: IPO allotment, refund, demat credit and listing dates mentioned in this post are tentative and may change according to the final IPO schedule, regulatory requirements and applicable exchange processes.
