- Summary
- The initial public offering (IPO) of Fusion CX will be open from 14th October 2026 to 16th October 2026. The company has set the price band between ₹275 and ₹289 per share, with an issue size of ₹702 crore, comprising ₹500 crore as a fresh issue and ₹202 crore as an offer for sale.
- Fusion CX offers customer experience management and business process outsourcing services for enterprises. The lot size of the IPO is 51 shares. Investors must apply for at least 1 lot, which requires a minimum investment of ₹14,739.
- At the higher price band, the maximum will be ₹1,91,607 for 663 shares. For S-HNI, the minimum lot is 14, containing 714 shares amounting to ₹2,06,346, and the maximum is 67 lots, containing 3,417 shares amounting to ₹9,87,513.
Fusion CX IPO is a mainboard book-building IPO valued at ₹702 crore, with a fresh issue of ₹500 crore and an offer for sale of ₹202 crore. The IPO will launch on 14 October 2026 and close on 16 October 2026, with a price band of ₹275 to ₹289 per share.
The provisional allocation date will be 19 October 2026, and the listing of shares will take place on 22 October 2026 on the BSE and NSE. The lot size of the share is 51. A retail investor can apply for 51 to 663 shares.
For S-HNI, the minimum lot size is 14, containing 714 shares amounting to ₹2,06,346, and the maximum is 67 lots, containing 3,417 shares amounting to ₹9,87,513. Under B-HNI, the minimum lot size is 68, with 3,468 shares amounting to ₹10,02,252.
Fusion CX IPO Key Details
Here is a quick look at the important details of the Fusion CX IPO:
| IPO Open Date | 14 October, 2026 |
| Close Date | 16 October, 2026 |
| Face value | ₹1 per share |
| Price Band | ₹275 to ₹289 |
| Issue price | – |
| IPO Lot Size | 51 shares |
| Offer for sale | 69,89,619 shares (~₹202 cr) |
| Fresh issue | 1,73,01,038 shares (~₹500 cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Total Issue Size (₹ Crore) | 2,42,90,657 shares (₹702 cr) |
| Minimum Investment | ₹14,739 (51 shares) |
Fusion CX IPO Timeline
The key dates for the Fusion CX IPO are given below:
| Bidding Opens | 14 October, 2026 |
| Bidding Closes | 16 October, 2026 |
| Allotment Planned For | 19 October, 2026 |
| Refunds Start On | 21 October, 2026 |
| Share Credit to Demat | 21 October, 2026 |
| Listing Scheduled | 22 October, 2026 |
| Cut-off for UPI mandate | 16 October, 2026 5:00 PM |
Fusion CX Key Performance Indicators (KPIs)
Fusion CX IPO KPIs are presented in the following table:
| KPIs | FY 2026 | FY 2025 | FY 2024 |
| ROE (%) | 30.30% | 20.74% | 13.37% |
| ROCE (%) | 71.59% | 49.73% | 19.56% |
| Debt-Equity (times) | 0.48 | 0.86 | 0.78 |
| RoNW (%) | 30.74% | 20.96% | 13.42% |
| PAT Margin (%) | 9.34% | 5.59% | 3.66% |
| EBITDA Margin (%) | 18.14% | 14.88% | 10.55% |
| Price Book Value | 6.61 | – |
Fusion CX IPO Financials
Here is an overview of the company’s financial figures:
| Period | FY 2026 | FY 2025 | FY 2024 |
| Total Assets | 13,851.46 | 11,432.52 | 7,680.16 |
| Revenue from operations | 18,181.38 | 13,292.96 | 9,913.15 |
| Profit After Tax | 1,698.40 | 743.14 | 362.60 |
Fusion CX IPO Subscription Status
Subscription Details Not Yet Available
Subscription information will be displayed once the bidding process starts.
Bidding is open from 10:00 AM to 5:00 PM on public issue days.
Fusion CX IPO Grey Market Premium
The listing date for the Fusion CX IPO is expected on 22, October 2026, with a price range of ₹275- ₹289 per equity share. Grey market premiums (GMPs) can fluctuate frequently because they are unofficial.
| GMP Date | GMP | Est. Listing Price on upper price-₹289.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 13-Oct 9:37 | ₹19 (6.57%) ─ | ₹308 | ₹969 | Downward |
| 12-Oct 23:37 | ₹19 (6.57%) ▼ | ₹308 | ₹969 | Downward |
| 11-Oct 23:37 | ₹22 (7.61%) ▼ | ₹311 | ₹1,122 | Downward |
| 10-Oct 23:37 | ₹53 (18.34%) ▼ | ₹342 | ₹2,703 | Stable |
| 9-Oct 23:37 | ₹55 (19.03%) ─ | ₹344 | ₹2,805 | Initial |
Note: GMP represents sentiment in the unofficial market and should not be considered an indication of assured listing returns.
Fusion CX IPO Reservation
The share allocation for each investor category is outlined below:
| Investor Category | Reservation |
| Market Maker | – |
| QIB | Not less than 75% |
| NIIs | Not more than 15% |
| Retail Investors | Not more than 10% |
| Total Shares | – |
Fusion CX IPO Lot Size
The applicable lot sizes for different investor categories are as follows:
| Application Type | Lots | Shares | Amount |
| Individual Investor – Minimum | 1 | 51 | ₹14,739 |
| Individual Investor – Maximum | 13 | 663 | ₹1,91,607 |
| S-HNI Minimum | 14 | 714 | ₹2,06,346 |
| S-HNI Maximum | 67 | 3,417 | ₹9,87,513 |
| B-HNI Minimum | 68 | 3,468 | ₹10,02,252 |
Fusion CX IPO Anchor Investors
The allotment status of the Fusion CX IPO is currently not yet available. As a result, information related to anchor bidding, share allocation, investment value, and lock-in periods will be added once it is disclosed.
Fusion CX IPO Prospectus
For more information on the Fusion CX IPO, check the links below:
About Fusion CX IPO
Incorporation: 2004
Managing Director: Pankaj Dhanuka and Kishore Saraogi
Fusion CX is a company that manages customer experiences for businesses globally and provides business process outsourcing services to help organisations engage with their customers and enhance their service levels. Some of the services offered by this company include customer support, technical services, call centre activities, sales support, collections, and back-office services.
This company provides services across many sectors, including banking, financial services, healthcare, telecommunications, retail, travel, and technology. This company uses humans and artificial intelligence to optimise its operations and provide customer services. It offers multilingual customer service through voice, email, chat and social media platforms.
| Issue Registrar | Kfin Technologies Ltd. |
| Lead Manager | Nuvama Wealth Management Ltd., IIFL capital services Limited, Motilal oswal investment advisors limited |
Fusion CX IPO Objectives
Funds received from the IPO will be directed towards the following purposes:
| Particulars | Amount (in ₹ Million) |
| Repayment/ prepayment of certain outstanding borrowings availed by the Company and its subsidiary | 2,756.95 |
| Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt. Ltd. for upgrading IT tools, i.e., Arya and MindVoice | 611.46 |
| General corporate purposes |
Strengths of Fusion CX IPO
Fusion CX is one of the firms in the Business Process Outsourcing and Customer Experience Management category. Financial stability, the ability to deliver internationally, and technological innovation are among the main features of Fusion CX that help analyze the firm’s business performance.
- High Revenue Growth: Fusion CX’s revenue from operations was ₹18,181.38 million for FY26, up 36.77% from ₹13,292.96 million for FY25. High revenue growth is driven by increased business activity from acquisitions.
- International Delivery Network: As of June 2026, Fusion CX had 40 delivery centers across 13 nations and served customers in 28 languages. Through this network, Fusion CX can serve its international customers across time zones via various communication channels and languages.
- Presence in Various Industries: Fusion CX offers its services to clients across the telecommunications, banking, financial services, insurance, health care, retail, and technology industries. For fiscal year 2026, the share of revenue generated from telecommunications and utilities was approximately 47%, banking and financial services 13.5%, and health care 13%.
- Investments in AI and Company Technologies: Fusion CX has developed technologies, including Mind WorkPlace, MindVoice, and Arya, that enable artificial intelligence-based workforce management and customer service. The firm plans to invest ₹611.46 million in its subsidiaries to modernize its information technology resources.
Risks of Fusion CX IPO
Beyond the company’s profitability and revenue growth, there are key business and financial risks associated with the Fusion CX IPO. These include customer concentration, international markets, debt obligations, and acquisition-related risks.
- Customer Concentration Risk: The company faces a high customer concentration risk, as Fusion CX depends heavily on a few customers for revenue. It can be noted that Fusion CX derived approximately 52.17% of its revenue from its top 10 customers in FY26.
- Risk Associated with International Market: The firm derives a large portion of its revenue from international operations. According to the risk disclosure provided by Fusion CX, approximately 85.26% of its FY26 revenue comes from the United States and Canada.
- Heavy Reliance on Telecom and Utilities: Approximately 47.34% of FY26 revenue from operations was derived from Telecom and Utilities. This heavy reliance makes the company vulnerable to changes in customers expenditure patterns in these industries.
- Employment Expenses and Turnover: Fusion CX relies heavily on its workforce to deliver its services. It had about 13,357 employees; therefore, employment costs and the employee turnover rate were vital aspects of Fusion CX’s operations.
Fusion CX IPO Review
Fusion CX is an operating company in the customer experience management and business process outsourcing industries and is involved in activities related to customer care, technical support, back-office operations, and AI services.
The company reported revenue from operations was ₹18,181.38 million for FY26, up 36.77% from ₹13,292.96 million for FY25. The company reported a profit after tax of ₹1,698.40 million in FY26, up from ₹743.14 million in FY25.
The company operates delivery centres in international markets and works with clients in sectors such as telecommunications, banking, healthcare, retail, and technology. The company is expanding its business through acquisitions and investment in technologies.
The company also derives 47% of its FY26 revenue from the telecommunications and utilities sector, implying high risk in this sector. Investors looking to invest in the company’s IPO should consider its revenue growth, profitability, customer base, debt burden, and acquisition risk.
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Fusion CX IPO FAQs
Fusion CX is an operating company in the customer experience management and business process outsourcing industries, engaged in customer care, technical support, back-office operations, and AI services. The offer starts on 14, October, 2026 and ends on 16, October, 2026.
Investors can apply for the IPO through their stockbroker or through any approved online IPO portal. Investors usually have the option to apply for the IPO through the ASBA route via banks.
Investors are required to evaluate the company themselves by considering the merits and demerits of the company’s financials, borrowings, customers, suppliers, and the purpose for raising funds via the IPO.
There is no guaranteed return from an IPO. Post-listing stock price may vary depending on market conditions, demand, performance, and trading activity. GMP is also unscheduled and can be revised even prior to listing.
Fusion CX has set October 14, 2026 as the opening date of its IPO. The closing date of the IPO is October 16, 2026, as per the available IPO schedule.
The number of shares in each lot is 51. The price band is ₹275-₹289, and the listing is on the BSE and NSE.
The allotment date is set for October 19, 2026. The next step will be the refund and allotment of shares in accordance with the final allotment.
The shares will be listed on October 22, 2026. The listing will be done on the BSE and NSE platforms as per the IPO schedule.
