- Price band
- To be announcedNot in this filing
- Issue size
- ₹702 Cr
- Face value
- ₹1per equity share
- Lot size
- To be announcedMin. investment shown once set
- Anchor biddingTue, 2026
- OpensWed, 2026
- ClosesFri, 2026
- AllotmentMon, 2026
- ListingThu, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- —
- Offer for sale
- None
- Total issue
- —
- Face value
- ₹1
- Listing at
- NSE, BSE
- RHP date
- 8 Oct 2026
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Reservation
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | — | — | 10% |
| Non-institutional investors (NII) | — | — | 15% |
| Qualified institutional buyers (QIB) | — | — | — |
| Anchor investors | — | — | — |
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
Fiscal 2026, pre-issue- EPS (basic)
- ₹13.47
- EPS (diluted)
- ₹13.41
- RoNW
- 30.74%
- NAV per share (As on June 30, 2026)
- ₹48.35
- P/E (Industry average)
- 26.65×
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Jun 20263 months | 31 Mar 2026FY 2025-26 | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 |
|---|---|---|---|---|
| Revenue from operations | 490.48 | 1,818.14 | 1,329.30 | 991.32 |
| Total income | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 |
| EBITDA | 95.09 | 329.87 | 197.78 | 104.62 |
| Profit after tax | 55.70 | 169.84 | 74.31 | 36.26 |
| Net worth | 610.84 | 552.46 | 354.58 | 270.15 |
| Total assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 |
| Total borrowing | 238.13 | 266.86 | 306.73 | 210.51 |
FY 2025-26 vs FY 2024-25: revenue +36.8%, profit after tax +128.5%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: Red Herring Prospectus dated 8 Oct 2026Updated
About the company
Provides customer experience services across voice, email, chat, social media and messaging, with technology and in-house AI tools central to delivery. Also offers AI data infrastructure services such as data annotation and teleoperations, operating delivery centres across 13 countries.
- Incorporated
- 2004
- Industry
- Customer Experience (CX) Services
- Sector
- IT and Software
- CIN
- U72900WB2004PLC097921
- Website
- fusioncx.com
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Pankaj Dhanuka | Promoter | — | — |
| Kishore Saraogi | Promoter | — | — |
| P N S Business Private Limited | Selling shareholder | — | — |
| Rasish Consultants Private Limited | Selling shareholder | — | — |
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Prepayment or repayment of certain borrowings of the company and its subsidiaries | 275.70 |
| Investment in step-down subsidiaries Omind Technologies Inc. and Omind Technologies Private Limited for upgrading IT tools | 61.15 |
| Inorganic growth through unidentified acquisitions, strategic initiatives and general corporate purposes | Set with price |
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| FirstSource Solutions Limited | ₹9.77 | 22.27× | 15.00% | ₹61.8 |
| eClerx Services Limited | ₹76.23 | 19.65× | 53.00% | ₹278 |
| Alldigi Tech Limited | ₹53.96 | 14.12× | 29.00% | ₹235 |
| Inventurus Knowledge Solutions Limited | ₹43.12 | 31.41× | 7.58% | ₹568 |
| Sagility India Limited | ₹1.98 | 21.66× | 6.47% | ₹30.5 |
| Hinduja Global Solutions Limited | ₹6.92 | 51.07× | 2.00% | ₹53 |
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Strengths and risks
Our summary of what the offer document statesStrengths
- Global delivery network across 13 countries with 40 delivery centres and 24x7 multichannel support.
- In-house AI-driven platforms and ongoing R&D investment in CX transformation.
- Track record of acquisitions and integrating them into the business.
- Diversified exposure across telecom, BFSI, healthcare, retail and other verticals.
- Revenue grew from ₹9,913 million in FY 2023-24 to ₹18,181 million in FY 2025-26.
Risks
- Revenue is concentrated in top 10 customers, which contributed about 52% of FY 2025-26 revenue.
- Pending and past legal proceedings against the company and its subsidiaries involve material amounts.
- Significant borrowings, with part of the IPO proceeds earmarked for repayment of debt.
- Revenue is heavily dependent on US and Canada geographies and on USD-denominated income.
- Several customers terminated contracts in recent fiscal years.
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Contacts
Source: Red Herring Prospectus dated 8 Oct 2026Updated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: Red Herring Prospectus dated 8 Oct 2026Updated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE and BSE.
Frequently asked questions
When does the Fusion CX IPO open and close?
According to the Red Herring Prospectus, the issue opens on Wednesday, 14 October 2026 and closes on Friday, 16 October 2026. These dates are tentative.
What is the Fusion CX IPO price band?
The Red Herring Prospectus does not include a price band. The company announces it by advertisement before the issue opens, and this page is updated when it is filed.
Where will Fusion CX shares list?
On NSE and BSE. The tentative listing date is Thursday, 22 October 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Fusion CX IPO allotment status?
The basis of allotment is expected to be finalised on Monday, 19 October 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹275.7 Cr for prepayment or repayment of certain borrowings of the company and its subsidiaries, ₹61.15 Cr for investment in step-down subsidiaries Omind Technologies Inc. and Omind Technologies Private Limited for upgrading IT tools, and the rest for the other stated purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.