Fusion CX Fixes IPO Price Band at Rs 275–289 per Share; Issue Size at Rs 702 Cr

New Delhi: AI-powered customer experience solutions provider Fusion CX Ltd on Friday fixed the price band of Rs 275-289 per share for its Rs 702 crore Initial Public Offering (IPO), which will open for subscription on October 14.

At the upper end of the price band, Fusion CX is expected to command a post-issue market capitalisation of over Rs 4,170 crore.

The three-day public issue will close on October 16, while bidding by anchor investors is scheduled for October 13, according to a public announcement.

The IPO comprises a fresh issue of equity shares worth up to Rs 500 crore and an Offer For Sale (OFS) of shares aggregating up to Rs 202 crore by existing shareholders, P N S Business Pvt Ltd and Rasish Consultants Pvt Ltd.

The company had initially planned to raise up to Rs 1,000 crore through its IPO, according to its draft red herring prospectus filed with Sebi in May 2025. However, the proposed issue size has since been reduced to Rs 702 crore.

Fusion CX proposes to utilise Rs 275 crore from the fresh issue proceeds towards repayment or prepayment of certain outstanding borrowings availed by the company and its subsidiaries. Another Rs 61 crore will be invested in its step-down subsidiaries, Omind Technologies Inc and Omind Technologies Pvt Ltd, to upgrade IT tools, including Arya and MindVoice.

The remaining proceeds will be used for acquisitions, other strategic initiatives and general corporate purposes.

In the last three years, the company has acquired six businesses, including Skycom Group, Scribe.ology LLC, Sequential Technologies LLC and S4 Communications LLC in the United States, VA Platinum Offshoring Pty Ltd in Australia and Ready Call Center Ltd in Belize.

Incorporated in 2004, the Kolkata-headquartered company provides customer experience and AI-driven solutions across multiple channels, including voice, email, chat, social media and messaging.

Its services span sectors such as telecommunications and utilities, healthcare and life sciences, high technology, travel, banking, financial services and insurance (BFSI), and retail.

Fusion CX supports customer interactions in 28 languages, including English, French, Spanish, Portuguese, German, Arabic, Mandarin, Italian and Hindi.

As of June 30, 2026, it had 13,735 employees operating across 13 countries through 40 delivery centres.

The company’s client portfolio comprises 208 customers.

On the financial front, Fusion CX reported a more than two-fold jump in profit after tax to Rs 169 crore in FY26, compared with Rs 74.40 crore in FY25. Revenue from operations rose 37 per cent to Rs 1,818 crore from Rs 1,329 crore in the previous fiscal, according to an addendum filed with Sebi.

Firstsource Solutions, eClerx Services, Alldigi Tech, Inventurus Knowledge Solutions, Sagility India and Hinduja Global Solutions are listed peers of the company, according to its red herring prospectus.

The net offer has reserved 75 per cent for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs) and 10 per cent for retail individual investors.

The equity shares are proposed to be listed on the BSE and NSE on October 22.

Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors are the book-running lead managers to the issue, while KFin Technologies is the registrar.

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