Fusion CX IPO

This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.

Lot size and investment

Reservation

QIB

1,82,17,992 shares (75.00% of the Offer)

NII

36,43,598 shares (15.00% of the Offer)

Retail

24,29,066 shares (10.00% of the Offer)

Current GMP

₹13.5

▲+4.67%

Estimated listing price

₹302.5

Issue price ₹289

Highest

₹55

9 Oct

Lowest

₹10

16 Oct

GMP by day (₹ per share)

Subject to sauda

₹500 retail · ₹7,000 HNI

GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.

P/E Ratio

18.73

EPS (₹)

15.43

RoE

8.99%

RoCE

19.84%

RoNW

9.12%

PAT Margin

11.36%

EBITDA Margin

20.03%

Debt / Equity

0.51

NAV (₹)

48.35

Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.

Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.

How Fusion CX plans to use the money raised, as stated in the offer document.

1. Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by our (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries)₹29.19 Cr
2. Investment in our step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, for upgrading IT tools i.e. Arya and MindVoice₹7.47 Cr
3. Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes

Fusion CX Limited was incorporated in 2004. It provides customer experience (CX) services in many languages across voice, chat, email, social media and messaging. Its services include customer acquisition, customer service, order fulfilment support, payments and collections, customer retention and technical support. Through its subsidiary Omind Technologies, it builds its own tools in conversational AI, marketing AI, quality automation and workforce management. It charges clients on fixed-fee, transaction-based or outcome-based models. As of 31 December 2024, it ran 40 delivery centres across 15 countries in 28 languages. As of 31 March 2026, it had 13,357 employees in its CX business. By vertical, telecom and technology gave 47.34% of FY2026 revenue from operations, BFSI 13.52%, healthcare 13.14% and consumer and retail 12.12%. By geography, the US and Canada gave 85.26%, India 11.29% and the UK and Europe 3.11%.

Promoters and shareholding

Pankaj Dhanuka, Kishore Saraogi, P N S Business Pvt.Ltd. and Rasish Consultants Pvt.Ltd

Promoter holding, pre-issue

93.02%

Promoter holding, post-issue

78.94%