Fusion CX IPO
Bookbuilding IPO | ₹702.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Wed, Oct 14, 2026
IPO Close
Fri, Oct 16, 2026
Price Band
₹275.00 to ₹289.00
Market Cap (Pre-IPO)
₹4,172.01 Cr
IPO Details
| IPO Date | Oct 14, 2026 to Oct 16, 2026 |
| Listing Date | Tentative: Oct 22, 2026 |
| Face Value | ₹1.00 per share |
| Price Band | ₹275.00 to ₹289.00 |
| Lot Size | 51 Shares (Minimum: ₹14,739.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹702.00 Crores |
| Total Shares Offered | 24,290,657 shares |
| Fresh Issue | 17,301,038 shares |
| Offer For Sale | 6,989,619 shares |
Fusion CX IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 18.18 |
| NII Shares Offered | 27.27 |
Fusion CX IPO Lot Size
Investors can bid for a minimum of 51 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,739 |
| Retail (Max) | 13 | 663 | ₹191,607 |
| S-HNI (Min) | 14 | 714 | ₹206,346 |
| S-HNI (Max) | 67 | 3,417 | ₹987,513 |
| B-HNI (Min) | 68 | 3,468 | ₹1,002,252 |
Fusion CX Financial Information (Restated Consolidated)
Fusion CX Ltd.'s revenue increased by 37% and profit after tax (PAT) rose by 129% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 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 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 30.30% |
| ROCE (Return on Capital Employed) | 71.59% |
| Debt/Equity | 0.53 |
| RoNW (Return on Net Worth) | 30.74% |
| PAT Margin (Profit After Tax Margin) | 9.34% |
| EBITDA Margin | 19.48% |
| Price to Book Value | 6.61 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 13.37 | 15.43 |
| P/E (x) | 21.62 | 18.73 |
Company Overview
Fusion CX Limited – Company Overview
- Incorporated in 2004, Fusion CX Limited is a customer experience (CX) and business process solutions provider offering multichannel customer support through voice, email, chat, social media and messaging.
- 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 June 30, 2026, the Company operated 40 delivery centres across 13 countries, supported customers in 28 languages and served 208 customers, including 22 Fortune 1000 companies.
- The Company's key industry verticals include telecom and utilities, healthcare and life sciences, high-tech and travel, banking, financial services and insurance (BFSI), and retail.
Company Strengths
- Global Delivery Network: Operates 40 delivery centres across 13 countries, enabling round-the-clock customer support across multiple time zones.
- AI-Driven Technology: Invests in proprietary AI tools and platforms to enhance customer engagement, automate processes and improve operational efficiency.
- Proven Acquisition Track Record: Has experience acquiring and integrating businesses to expand service offerings, customer relationships and growth opportunities.
- Diversified Industry Presence: Serves multiple industries, including telecom and utilities, healthcare, BFSI, retail, high-tech and travel.
- Customer-Centric Approach: Offers tailored, multilingual and omnichannel solutions to meet diverse customer requirements.
- Experienced Management Team: Benefits from experienced promoters, a diverse Board and management with industry knowledge, supported by a skilled workforce.
Use of Proceeds
| 1) | Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries) | 275.70 |
| 2) | Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt.Ltd., for upgrading IT tools i.e. Arya and MindVoice | 61.15 |
| 3) | Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | |
| Total | 336.84 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Fusion CX IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Fusion CX | 13.47 | 13.41 | 43.73 | - | 30.74 | - | Consolidated |
| Firstsource Solutions Ltd. | 9.77 | 9.56 | 61.80 | 22.27 | 15.00 | 16.49 | Consolidated |
| Eclerx Services Ltd. | 76.23 | 74.42 | 278.00 | 19.65 | 53.00 | 4.99 | Consolidated |
| AlliDigi Tech Limited | 53.96 | 53.96 | 235.00 | 14.12 | 29.00 | 3.43 | Consolidated |
| Inventurus Knowledge Solutions Ltd. | 43.12 | 42.26 | 568.00 | 31.41 | 7.58 | 2.34 | Consolidated |
| Sagility India Limited | 1.98 | 1.98 | 30.50 | 21.66 | 6.47 | 1.53 | Consolidated |
| Hinduja Global Solutions Ltd. | 6.92 | 6.92 | 53.00 | 51.07 | 2.00 | 6.59 | Consolidated |
Quick Info
| Sector | Information Technology Enabled Services (ITeS) and Business Process Outsourcing (BPO) / Knowledge Process Outsourcing (KPO) |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹4,172.01 Cr |
Important Dates
| IPO Open | Oct 14, 2026 |
| IPO Close | Oct 16, 2026 |
| Allotment Date | Oct 19, 2026 |
| Credit to Demat | Oct 21, 2026 |
| Listing Date | Tentative: Oct 22, 2026 |
Lead Manager(s)
Nuvama Wealth Management Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹702.00 crores.
- Issue Structure: The issue is a combination of a fresh issue of 1.73 crore shares aggregating to ₹500.00 crores and an offer for sale of 69.90 lakh shares aggregating to ₹202.00 crores.
- IPO Dates: The issue opens for subscription on October 14, 2026 and closes on October 16, 2026.
- Allotment Date: The allotment is expected to be finalized on October 19, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on October 22, 2026.
- Retail Investment Requirement: Minimum 1 lot (51 shares) amounting to approximately ₹14,739 at the upper price band.
- Issue Price Band: ₹275 to ₹289 per equity share.
- Lot Size: 51 shares per lot.
This IPO offers investors an opportunity to participate in the company through a combination of a fresh issue of shares and an offer for sale by existing shareholders.