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Fusion CX IPOUPCOMING
Fusion CX Limited is a technology-enabled customer experience and BPO service provider offering multilingual customer support, digital solutions and AI-powered automation across global markets.
Opens
14 Oct 26Closes
16 Oct 26Allotment
19 Oct 26Refund
21 Oct 26Demat
21 Oct 26Listing
22 Oct 26Bidding opens
in 3 days
14 – 16 Oct
Retail bids until 5:00 PM, other categories until 4:00 PM on the closing day.
Overview
Price band
₹275-289
Lot size
51 shares
Min. investment
₹14,739
Issue size
₹702.00 Cr
2.43 Cr shares
Offer for sale
₹702 Cr
2.43 Cr shares
Face value
₹1 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,739 |
| Retail (Max) | 13 | 663 | ₹1,91,607 |
| S-HNI (Min) | 14 | 714 | ₹2,06,346 |
| S-HNI (Max) | 67 | 3,417 | ₹9,87,513 |
| B-HNI (Min) | 68 | 3,468 | ₹10,02,252 |
Fusion CX Live GMP
Latest GMP
₹56
All-time high
₹56
All-time low
₹53
Subscription
Live category-wise bids appear here once bidding opens on 14 Oct 26. Reserved share of the issue:
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
30.3%
PAT Margin
9.34%
ROCE
71.59%
EBITDA Margin
19.48%
Debt to Equity Ratio
0.53
Price to Book Value
6.61
RoNW
30.74%
Valuation vs listed peers
EPS Pre IPO
₹13.37
EPS Post IPO
₹15.43
P/E Pre IPO
21.62
P/E Post IPO
18.73
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| FirstSource Solutions Limited | 22.27 | — | — | ₹10 |
| eClerx Services Limited | 19.65 | — | — | ₹10 |
| Alldigi Tech Limited | 14.12 | — | — | ₹10 |
| Inventurus Knowledge Solutions Limited | 31.41 | — | — | ₹1 |
| Sagility India Limited | 21.66 | — | — | ₹10 |
| Hinduja Global Solutions Limited | 51.07 | — | — | ₹10 |
Peer median P/E 22.0× · Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+81.3%
Profit growth FY24 → FY26
+368.4%
P/E vs peer median
18.7× vs 22.0×
- PAT margin 9.3% and ROCE 71.6%.
- Priced below its listed-peer median P/E.
- 100% offer for sale — the company raises no new money.
Strengths & risks
- Global Presence with 40+ delivery centres across 14 countries.
- Diversified Services across telecom, BFSI, healthcare and retail.
- AI Capabilities through proprietary technology platforms.
- Revenue Growth of 36.77% in FY2026.
- Industry Expertise with multilingual, omnichannel solutions.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| 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 |
| Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt.Ltd., for upgrading IT tools i.e. Arya and MindVoice. | 61.15 |
| Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. | - |
Company & documents
Fusion CX Limited is a Kolkata-based, technology-enabled customer experience (CX) and business process outsourcing (BPO) service provider established in 2004. The company offers customer engagement, digital solutions and AI-powered services across voice, email, chat, social media and messaging platforms, combining human expertise with artificial intelligence and automation.
The company primarily serves five major industry verticals: telecom and utilities, high-tech growth and travel (HTT), banking, financial services and insurance (BFSI), retail, and healthcare. Its services cover the entire customer lifecycle, including customer acquisition, customer support, order fulfilment, payment collections, customer retention and technical assistance.
As of June 30, 2026, Fusion CX operated 40 delivery centres and two sales offices across 13 countries, providing multilingual customer support in 28 languages. The company had 13,735 CX employees and 3,829 field workforce personnel, serving 208 customers, including 22 Fortune 1000 companies. Its customer base includes AJIO, Meesho, Arvind Fashion, Ameriflex and Traya, among others.
The company's service portfolio comprises seven major categories:
- Customer Acquisition: Lead generation, sales support and customer onboarding.
- Customer Service: Multichannel customer assistance and complaint resolution.
- Order Fulfilment: Order processing, billing, returns and refund support.
- Payment and Collections: Debt recovery and payment collection services.
- Customer Retention: Loyalty programmes and customer engagement.
- Technical Support: IT troubleshooting, network and device assistance.
- Digital Solutions: AI-powered automation, chatbots and digital engagement.
Additionally, Fusion CX provides AI data infrastructure services, including data annotation, robot teleoperation and AI monitoring. Through its subsidiary Omind, the company develops proprietary AI-powered platforms for conversational AI, marketing automation, quality management and workforce management.
The company operates through fixed-fee, transaction-based, outcome-based and hybrid revenue models. It has expanded its global presence through strategic acquisitions across North America, Latin America and the Asia-Pacific region.
As of June 30, 2026, Fusion CX Limited had 13,735 customer experience (CX) employees. And in FY2026, customer service contributed 40.47% of revenue from operations, while telecom and utilities accounted for 47.34%.
Registrar
Company contact
Fusion CX Ltd.
Plot No. Y9, Block EP & GP, Sector-5, Bidhan Nagar, Salt Lake, Kolkata, West Bengal, 700091
Phone: 033 4508 6520
Email: secretarial@fusioncx.com
Book running lead managers
- IIFL Capital Services Limited
- Nuvama Wealth Management Limited
- Motilal Oswal Investment Advisors Limited
Promoters
- Pankaj Dhanuka
- Kishore Saraogi
- P N S Business Pvt.Ltd.
- Rasish Consultants Pvt.Ltd.