The ₹702 crore Fusion CX IPO allotment status will be finalised on Monday, October 19, by evening. According to reports from NSE, the basis of allotment for this AI-powered customer experience solutions provider will be announced on the websites of NSE, BSE, and KFin Technologies. Investors can check their allotment status online through these platforms using their application numbers or PAN details. The total issue comprises 2,42,90,657 shares with specific reservations: not less than 75% for QIBs, not more than 15% for non-institutional investors and not more than 10% for retail. Refunds for unsuccessful applicants and credit of shares to successful bidders are scheduled for October 21, while Fusion CX shares are expected to list on BSE and NSE on October 22.
The IPO demonstrated robust investor interest with 4.45 times oversubscription, receiving bids for 6.24 crore shares against the 1.40 crore shares on offer. As reported by NSE, non-institutional investors subscribed their portion 4.50 times, while qualified institutional buyers quota was booked 4.01 times. The retail investor portion showed the strongest demand with 5.70 times subscription. With about 47,600 lots available to retail investors, the odds can be tight - if retail is subscribed 10 times, about 1 in 10 single-lot applicants gets shares. At 30 times, about 1 in 30.
The ₹702 crore initial public offering comprises a fresh issuance of ₹500 crore and an offer for sale (OFS) of 69.90 lakh shares worth ₹202 crore by promoters PNS Business and Rasish Consultants. According to reports, the company has fixed a price band of ₹275 to ₹289 per share for this AI-powered customer experience solutions provider. The issue represents a P/E of about 21.6x on FY26 earnings at the upper band, with demand being partly a vote on how the company will use the fresh money - repaying about ₹275.70 crore of debt, investing about ₹61.15 crore in AI-focused subsidiaries and funding acquisitions. The price band was fixed at ₹275-289 per share, with a lot size of 51 shares, making the minimum investment for a retail applicant ₹14,739 at the upper end.
The latest Grey Market Premium (GMP) stands at ₹19, indicating an estimated listing price of ₹308 at the upper issue price of ₹289. This represents an estimated gain of 6.57% over the issue price. One lot containing 51 shares would result in an indicative profit of ₹969 per lot before brokerage, taxes and other charges. The GMP trend is currently showing no change based on 11 recorded day-wise updates, though strong QIB demand with reasonable valuation is the most reassuring combination for institutional investors. GMP is an unofficial indicator based on grey market activity and is not regulated by stock exchanges.
As reported by NSE, the company plans to utilise the net proceeds towards repayment of certain outstanding borrowings availed by the company and its subsidiaries, investment in step-down subsidiaries to update IT tools, pursue inorganic growth and general corporate purposes. The Kolkata-headquartered firm offers customer experience and artificial intelligence-driven solutions across sectors including telecommunications, technology, travel, healthcare, banking, financial services, insurance and retail. Fusion CX operates as a global business process outsourcing (BPO) and customer experience services company, providing customer support, technical assistance, sales, collections, back-office operations and digital communication across voice, email, chat and social media channels. The fresh issue proceeds will be used partly to repay or prepay borrowings of the company and its subsidiaries, while the company also plans to invest in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to upgrade technology tools, including Arya and MindVoice.
