Fusion CX IPO: dates, price band, lot size and GMP
Fusion CX IPO opens 14 – 16 Oct 2026 on the Mainboard, price band ₹275 – ₹289, lot 51 shares, no GMP reported yet. Allotment 19 Oct, listing 22 Oct.
Listing date: Fusion CX IPO is scheduled to list on 22 Oct on NSE, BSE.
Updated 9 Oct 2026, 10:10 IST. Dated dealer references.
BuyUnlistedShares tracks 201 IPOs on its calendar; the Fusion CX IPO has a price band of ₹275 – ₹289, a lot of 51 shares and no grey-market premium reported yet as of 09 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 14 – 16 Oct 2026 |
| Price band | ₹275 – ₹289 |
| Lot size | 51 shares |
| Issue size | ₹702.00 Cr |
| Fresh issue | ₹500 Cr |
| Offer for sale | ₹202 Cr |
| Subscription | — |
| Registrar | Kfin Technologies Ltd. |
| Lead managers | Nuvama Wealth Management Ltd., IIFL Capital Services Ltd., Motilal Oswal Investment Advisors Ltd. |
| Status | Upcoming |
Timeline
- Issue opens: 14 Oct
- Issue closes: 16 Oct
- Allotment: 19 Oct
- Refunds: 21 Oct
- Demat credit: 21 Oct
- Listing: 22 Oct
Issue details
| Face value | ₹1 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹4,172.01 Cr |
| P/E (pre-issue) | 21.62x |
| P/E (post-issue) | 18.73x |
| Fresh issue (shares) | 1,73,01,038 |
| Offer for sale (shares) | 69,89,619 |
| Total shares offered | 2,42,90,657 |
| Promoter holding pre-issue | 99.03% |
| Promoter holding post-issue | 81.82% |
| Promoters | Pankaj Dhanuka, Kishore Saraogi, P N S Business Pvt.Ltd., Rasish Consultants Pvt.Ltd. |
| Lead managers | Nuvama Wealth Management Ltd., IIFL Capital Services Ltd., Motilal Oswal Investment Advisors Ltd. |
| Registrar phone | 040-79615565 |
| Registrar email | fusion.ipo@kfintech.com |
| Company website | fusioncx.com |
| Anchor bid date | 13 Oct 2026 |
| Anchor lock-in ends (50%) | 18 Nov 2026 |
| Anchor lock-in ends (remaining) | 17 Jan 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 51 | ₹14,739 |
| Retail (maximum) | 14 | 714 | ₹2,06,346 |
| sNII (minimum) | 14 | 714 | ₹2,06,346 |
| bNII (minimum) | 68 | 3,468 | ₹10,02,252 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not less than 75% |
| NII (HNI) | — | — | Not more than 15% |
| Retail | — | — | Not more than 10% |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹13.37 |
|---|---|
| EPS (post-issue) | ₹15.43 |
| P/E (pre-issue) | 21.62x |
| P/E (post-issue) | 18.73x |
| RoNW | 30.74% |
| RoCE | 71.59% |
| RoE | 30.3% |
| PAT margin | 9.34% |
| EBITDA margin | 19.48% |
| Price / book | 6.61x |
| NAV per share | ₹43.73 |
| Debt / equity | 0.53 |
| Market cap (upper band) | ₹4,172.01 Cr |
Financials (₹ Cr)
| Metric | 30 Jun 2026 | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|---|
| Assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 | +21.2% |
| Total Income | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 | +37% |
| Profit After Tax | 55.7 | 169.84 | 74.31 | 36.26 | +128.6% |
| EBITDA | 95.09 | 329.87 | 197.78 | 104.62 | +66.8% |
| NET Worth | 24.57 | 26.74 | 16.66 | 11.05 | +60.5% |
| Reserves and Surplus | 607.01 | 547.97 | 345.76 | 258.54 | +58.5% |
| Total Borrowing | 48.06 | 58.73 | 81.93 | 83.1 | −28.3% |
About Fusion CX
Incorporated in 2004, Fusion CX Limited is a next-generation customer experience (CX) service provider, delivering high-end, multilingual, and omnichannel engagement solutions across voice, chat, email, social media, and messaging platforms. Fusion CX has strategically evolved into a technology-driven, SaaS-enabled CX partner. Through its technology subsidiary, Omind Technologies, Fusion CX develops proprietary platforms in conversational AI, marketing AI, quality automation, and workforce management-enhancing customer interactions, operational efficiency, and cost optimization at scale.
The company operates through flexible commercial models-fixed-fee, transaction-based, and outcome-based-designed to meet the specific needs of enterprise clients across sectors.
Fusion CX provides a comprehensive suite of services including customer acquisition, customer service, order fulfillment support, payment and collections services, customer retention, technical support and digital solutions. These solutions are tailored for key verticals such as telecom and utilities, healthcare and life sciences, BFSI, retail, and high-tech and travel (HTT), where the company has developed deep domain expertise. Its AI-led, omnichannel approach ensures intelligent automation and human-assisted services that address the full customer lifecycle, from onboarding and engagement to support and retention.
As of December 31, 2024, Fusion CX operates 40 delivery centers across 15 countries, offering services in 28 languages, powered by 10,520 CX professionals and 12,323 field workforce supporting primarily the telecom and utilities segments. The company has achieved significant scale through a combination of organic growth and strategic acquisitions, which have broadened its customer base and enhanced service capabilities.
Recognized by Frost & Sullivan with the 2025 North American Technology Innovation Leadership Award and featured in Everest Group reports as a rising star, Fusion CX stands out for its innovation, operational agility, and long-term client focus-positioning it as an attractive growth partner for global enterprises and a compelling opportunity for investors.
Objects of the issue
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries) — ₹275.7 Cr
- Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt.Ltd., for upgrading IT tools i.e. Arya and MindVoice — ₹61.15 Cr
- Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
Net proceeds: ₹336.84 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Fusion CX (issuer) | 13.47 | 13.41 | 43.73 | — | 30.74% | — | Consolidated |
| Firstsource Solutions Ltd. | 9.77 | 9.56 | 61.8 | 22.27x | 15% | 16.49 | Consolidated |
| Eclerx Services Ltd. | 76.23 | 74.42 | 278 | 19.65x | 53% | 4.99 | Consolidated |
| AlliDigi Tech Limited | 53.96 | 53.96 | 235 | 14.12x | 29% | 3.43 | Consolidated |
| Inventurus Knowledge Solutions Ltd. | 43.12 | 42.26 | 568 | 31.41x | 7.58% | 2.34 | Consolidated |
| Sagility India Limited | 1.98 | 1.98 | 30.5 | 21.66x | 6.47% | 1.53 | Consolidated |
| Hinduja Global Solutions Ltd. | 6.92 | 6.92 | 53 | 51.07x | 2% | 6.49 | Consolidated |
Financial information for our Company is derived from the Restated Consolidated Financial Information as at and for Fiscal 2026. # To be included in respect of our Company in the Prospectus based on the Offer Price. Notes: 1) EPS has been calculated in accordance with the Indian Accounting Standard 33 - "Earnings per share". The face value of our Company's Equity Shares is ₹1. Basic earnings per share equals Profit for the period/year attributable to the shareholders of our Company divided by the Weighted average number of Equity Shares outstanding during the year.
Risk factors (as disclosed by the company)
- There are outstanding legal proceedings involving our Company, Subsidiaries and Directors — There are outstanding legal proceedings involving our Company, our Subsidiaries and Directors.
- A significant portion of our business is attributable to top 10 customers that have contributed 49.84%, 52.17% — Our business operations are highly dependent on our top customers, which exposes us to a high risk of customer concentration.
- If our information security measures are compromised, damaged or interrupted by cyber attacks, breaches, computer viruses or other security problems — Our business model as a technology-enabled customer experience and business process outsourcing provider necessitates the extensive processing, storage, and transmission of sensitive and…
- Shareholding pattern of our Company — The table below presents the Equity Shareholding pattern of our Company, as on the date of this Red Herring Prospectus: Categ Catego Number Number of Num Numb Total number Sharehol Number of Voting…
- Details of shareholding of the major Shareholders of our Company — (a) Set forth below are details of Shareholders holding 1% or more of the paid-up share capital of our Company as on the date of this Red Herring Prospectus: S.
- Details of the Shareholding of our Directors, our Key Managerial Personnel, our Senior Management, our Promoters, members of our Promoter Group — Except as disclosed below, as on the date of this Red Herring Prospects, none of our Directors, Promoters, Key Managerial Personnel, Senior Management, the members of our Promoter Group, directors…
- Average cost of acquisition of shares for our Promoters and the Selling Shareholders — The average cost of acquisition of Equity Shares for our Promoters and Selling Shareholders is as set out below: Name of acquirer Number of Equity Shares Acquisition price per Equity Share (in ₹)*…
- We confirm that the BRLMs and their associates (determined as per definition of the term 'associate' under the Securities and Exchange Board of India…
From the RHP (risk factors pages 25–98). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Fusion CX IPO GMP today and trend
- Fusion CX IPO subscription status, day by day
- Fusion CX IPO allotment status and how to check
Frequently asked questions
When does the Fusion CX IPO open and close?
The issue is scheduled for 14 – 16 Oct 2026.
What is the Fusion CX IPO price band?
The price band is ₹275 – ₹289 per share with a lot size of 51 shares.
How big is the Fusion CX IPO?
The total issue size is ₹702.00 Cr, of which ₹500 Cr is a fresh issue and ₹202 Cr an offer for sale.
When will Fusion CX list?
The tentative listing date is 22 Oct on the main board.
How do I apply for the Fusion CX IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Fusion CX · as filed with SEBI · sebi.gov.in
- Red herring prospectus (RHP), Fusion CX · as filed · chittorgarh.net
- Registrar allotment page, Kfin Technologies Ltd. · allotment 19 Oct · ipostatus.kfintech.com
- NSE public issues page · listing 22 Oct · nseindia.com
- BSE public issues page · listing 22 Oct · bseindia.com
- Fusion CX company website · fusioncx.com
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 9 Oct, 03:30 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Fusion CX IPO”, https://buyunlistedshares.com/ipo/fusion-cx-ipo, as of 09 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 09 Oct 2026.
Guides for IPO applicants and pre-IPO holders
- The risks of buying unlisted and pre-IPO shares in India
- Unlisted Shares Lock-In Period: What Every Investor Must Know (2026)
- What Happens to Your Unlisted Shares After the IPO? Lock-In Periods Explained
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