Fusion CX Raises Rs 315cr From Anchor Book Ahead of IPO

Kolkata: Fusion CX Ltd, a provider of customer experience and AI data infrastructure services, has raised Rs 315 crore from anchor investors at Rs 289 per equity share ahead of its Rs 702 crore initial public offering (IPO), according to an exchange filing.

The anchor allocation included domestic mutual funds such as Kotak Mahindra Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Quant Mutual Fund, ITI Mutual Fund and JM Financial Mutual Fund, besides Kotak Mahindra Life Insurance, Bengal Finance and Investment Pvt Ltd, and foreign portfolio investors.

Of the 1,09,30,795 equity shares allotted to anchor investors, 85,08,703 shares, or 77.84 per cent, were allocated to six domestic mutual funds through 15 schemes.

Kotak Mahindra Life Insurance acquired 5,19,027 shares worth Rs 15 crore, taking its total investment in Fusion CX to Rs 65 crore. The insurer had recently invested Rs 50 crore through a secondary transaction.

Similarly, Bengal Finance and Investment, backed by investor Ashish Kacholia, acquired 6,92,019 shares worth Rs 20 crore in the anchor allocation, taking his total investment in the company to Rs 55 crore. Kacholia had invested Rs 35 crore through a secondary transaction announced on October 11.

Foreign investors participating in the anchor allocation included Loomis Sayles Global Emerging Markets Equity Fund, managed by Natixis Investment Managers, and Meru Investment Fund PCC-Cell 1.

The IPO will open for subscription on Wednesday, October 14, and close on Friday, October 16.

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