Fusion CX Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹275 - ₹289
- Lot size
- 51 shares
- Issue amount
- ₹702 cr
- Total subscription
- 4.71×
- Opens
- 14 Oct 2026
- Closes
- 16 Oct 2026
- Allotment
- 19 Oct 2026
- Listing
- 22 Oct 2026
Offer at a glance
Issue overview
- Issue size
- 2,42,90,657 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹14,025
- Fresh issue
- ₹500 cr
- Offer for sale
- ₹202 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,739
- Issue type
- Bookbuilding IPO
- Shares before issue
- 12,70,59,295
- Shares after issue
- 14,43,60,333
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 51 | ₹14,739 |
| sHNI | 14 | 714 | ₹2,06,346 |
| bHNI | 68 | 3,468 | ₹10,02,252 |
Share reservation
Subscription & GMP
Subscription by category
Reported 16 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 47,629 | 2,60,720 |
| HNIs(10L +) | 3,402 | 3,223 |
| HNIs (2-10L) | 1,701 | 7,783 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 210.6 | 886.88 |
| RETAIL | 70.2 | 434.69 |
| NIB | 105.3 | 494.9 |
| HNIs 2+ | 35.1 | 166.83 |
| HNIs 10+ | 70.2 | 331.28 |
| HNIs | 105.3 | 498.11 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 4.41 | 13.47 | 5.9 | 2.88 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 19.84 | 71.59 | 49.73 | 19.56 |
| RONW | 9.12 | 30.74 | 20.96 | 13.42 |
| PRE IPO(PE) | 0 | 21.46 | 0 | 0 |
| POST IPO(PE) | 18.73 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Fusion CX Limited | 21.46 | 0 | 1.00 | 43.73 | 30.74 | 13.47 |
| FirstSource Solutions Limited | 22.27 | 0 | 10.00 | 61.80 | 15.00 | 9.77 |
| eClerx Services Limited | 19.65 | 0 | 10.00 | 278.00 | 53.00 | 76.23 |
| Alldigi Tech Limited | 14.12 | 0 | 10.00 | 235.00 | 29.00 | 53.96 |
| Inventurus Knowledge Solutions Limited | 31.41 | 0 | 1.00 | 568.00 | 7.58 | 43.12 |
| Sagility India Limited | 21.66 | 0 | 10.00 | 30.50 | 6.47 | 1.98 |
| Hinduja Global Solutions Limited | 51.07 | 0 | 10.00 | 53.00 | 2.00 | 6.92 |
Company information
Company profile
Founded in 2004, Fusion CX Limited is a customer experience service provider that offers multilingual and omnichannel support through voice, chat, email, social media, and messaging platforms. Over time, the company has evolved into a technology-driven partner with SaaS capabilities, using its subsidiary Omind Technologies to build tools in conversational AI, marketing automation, quality monitoring, and workforce management, helping businesses improve efficiency and reduce costs. It operates on flexible pricing models like fixed-fee, transaction-based, and outcome-based, catering to different business needs. Fusion CX provides services such as customer acquisition, support, order management, payments, collections, retention, and technical assistance across industries like telecom, healthcare, BFSI, retail, and travel, where it has strong expertise. Its AI-led approach combines automation with human support to manage the complete customer journey from onboarding to retention. As of December 31, 2024, the company runs 40 delivery centers in 15 countries, supports 28 languages, and has over 10,000 CX professionals along with a large field workforce. With steady growth through expansions and acquisitions, along with recognition from global research firms, Fusion CX has built a strong position as a reliable and innovative partner for businesses worldwide.
Strengths
- Global Delivery Network: Fusion CX operates 40 scalable delivery centres across 15 countries, providing 24/7 multichannel support in 28 languages as of December 31, 2024. Its onshore, nearshore and offshore delivery models help provide cost-effective services tailored to different cultures and markets.
- In-House AI & Technology Development: The Company continuously invests in proprietary AI platforms, including Arya, Mind WorkPlace and MindVoice, developed through its subsidiary Omind. These solutions aim to improve customer experience, operational efficiency and customer engagement.
- Successful Acquisition & Expansion Strategy: Fusion CX has experience in acquiring and integrating businesses such as Ameridial Inc., Boomsourcing LLC and Ready Call Center Limited. These acquisitions have helped expand its service capabilities, geographic presence and revenue opportunities.
Risk factors
- Customer Concentration Risk: The top 10 customers contributed 44.26%, 41.04%, 40.16% and 37.95% of revenue from operations for the nine months ended December 31, 2024 and FY2024, FY2023 and FY2022, respectively. Losing a major customer or a reduction in business from key clients could adversely affect revenue and financial performance.
- Employee Attrition Risk: The Company depends on attracting and retaining skilled employees and key managerial personnel to maintain service quality. CX employee attrition rates were 28.56%, 32.15%, 29.43% and 30.32% across the respective periods, and continued high attrition could disrupt operations and service continuity.
- Cybersecurity & Data Protection Risk: The Company processes large volumes of sensitive and confidential customer data, making it vulnerable to cyber threats such as hacking, malware and phishing. Any security breach could result in financial losses, regulatory action and damage to the Company’s reputation.
Promoters
Mr. Pankaj Dhanuka
Mr. Kishore Sarogi
P N S Business Private Limited
Rasish Consultants Private Limited
Registrar & documents
Lead manager
Nuvama Wealth Management Limited, IIFL Capital Services Limited, Motilal Oswal Investment Advisors Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot No. Y9, Block EP & GP, Sector-5, Bidhan Nagar, Salt Lake Kolkata, West Bengal, 700091
033 4508 6520
[email protected]Company website ↗Understanding FUSIONCX IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.