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Fusion CX IPO
Price Band
₹275.0–289.0
Issue Size
₹702.0 Cr
Lot Size
51 shares
Min Investment
₹14,739
GMP
+₹13.5 (4.67%)
Issue Price
₹289.0
Subject to Sauda
₹500
Paid only if allotted
Fusion CX IPO AI Summary
- Fusion CX IPO is listed on BSE, NSE in the Business Process Outsourcing (BPO)/Knowledge Process Outsourcing (KPO) sector.
- Price band: ₹275.0–₹289.0 per share, lot size 51 shares (min. investment ₹14,739).
- Subscription window: 14 Oct–16 Oct 2026, listing on 22 Oct 2026.
- Current GMP is +₹13.5 (4.67%), an estimated listing price of ₹303 — unofficial and can change daily.
Fusion CX Limited is a technology-driven customer experience service provider, preparing for an IPO with a price band of ₹275 to ₹289. The company has shown significant growth potential but reported a decline in income and profit in the latest period compared to the previous full year. The IPO has attracted strong interest across various investor categories.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Fusion CX IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 16 Oct 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
4.68x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
4.21x
|
4.21x |
| NII (HNI) |
4.73x
|
4.73x |
| ↳ bNII (>₹10L) |
4.72x
|
4.72x |
| ↳ sNII (<₹10L) |
4.75x
|
4.75x |
| Retail (RII) |
5.99x
|
5.99x |
| Total | 4.68x | 4.68x |
Auto-updated every 5 min · As of 16th Oct 2026 17:56
Fusion CX IPO Grey Market Premium (GMP) Today
GMP
+₹13.5
GMP %
+4.67%
Est. Listing
₹302.5
Updated: 22 Oct 2026 09:45
GMP Trend (Last 12 Days)
About the Company
Incorporated in 2004, Fusion CX Limited is a next-generation customer experience (CX) service provider, delivering high-end, multilingual, and omnichannel engagement solutions across voice, chat, email, social media, and messaging platforms. Fusion CX has strategically evolved into a technology-driven, SaaS-enabled CX partner. Through its technology subsidiary, Omind Technologies, Fusion CX develops proprietary platforms in conversational AI, marketing AI, quality automation, and workforce management—enhancing customer interactions, operational efficiency, and cost optimization at scale. The company operates through flexible commercial models—fixed-fee, transaction-based, and outcome-based—designed to meet the specific needs of enterprise clients across sectors. Fusion CX provides a comprehensive suite of services including customer acquisition, customer service, order fulfillment support, payment and collections services, customer retention, technical support and digital solutions. These solutions are tailored for key verticals such as telecom and utilities, healthcare and life sciences, BFSI, retail, and high-tech and travel (HTT), where the company has developed deep domain expertise. Its AI-led, omnichannel approach ensures intelligent automation and human-assisted services that address the full customer lifecycle, from onboarding and engagement to support and retention. As of December 31, 2024, Fusion CX operates 40 delivery centers across 15 countries, offering services in 28 languages, powered by 10,520 CX professionals and 12,323 field workforce supporting primarily the telecom and utilities segments. The company has achieved significant scale through a combination of organic growth and strategic acquisitions, which have broadened its customer base and enhanced service capabilities. Recognized by Frost & Sullivan with the 2025 North American Technology Innovation Leadership Award and featured in Everest Group reports as a rising star, Fusion CX stands out for its innovation, operational agility, and long-term client focus—positioning it as an attractive growth partner for global enterprises and a compelling opportunity for investors.
Company Financials (₹ Cr)
As of 2026-06-30
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 |
| Total Income | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 |
| Profit After Tax | 55.70 | 169.84 | 74.31 | 36.26 |
| EBITDA | 95.09 | 329.87 | 197.78 | 104.62 |
| NET Worth | 610.84 | 552.46 | 354.58 | 270.15 |
| Reserves and Surplus | 607.01 | 547.97 | 345.76 | 258.54 |
| Total Borrowing | 238.13 | 266.86 | 306.73 | 210.61 |
Key Ratios
EPS
₹13.37
NAV
₹43.73
ROE
30.30%
ROCE
71.59%
RoNW
30.74%
P/B Value
6.61
P/E Ratio
21.62
Market Cap
₹4172.01 Cr
PAT Margin
9.34%
Debt/Equity
0.53
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Hinduja Global Solutions Ltd. | 53 | 2% | 51.07 | 6.92 | 6.92 |
| Sagility India Limited | 30.5 | 6.47% | 21.66 | 1.98 | 1.98 |
| Inventurus Knowledge Solutions Ltd. | 568 | 7.58% | 31.41 | 43.12 | 42.26 |
| AlliDigi Tech Limited | 235 | 29% | 14.12 | 53.96 | 53.96 |
| Eclerx Services Ltd. | 278 | 53% | 19.65 | 76.23 | 74.42 |
| Firstsource Solutions Ltd. | 61.8 | 15% | 22.27 | 9.77 | 9.56 |
| Fusion CX This IPO | 43.73 | 30.74% | — | 13.47 | 13.41 |
Promoters
Pankaj Dhanuka, Kishore Saraogi, P N S Business Pvt.Ltd., Rasish Consultants Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries) 275.70 2 Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt.Ltd., for upgrading IT tools i.e. Arya and MindVoice 61.15 3 Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes 126.11 4 Issue Expenses 52.00 | Total 514.95
IPO Evaluation
Generated 24 Oct 2026Revenue Trend
For the period ending June 30, 2026, Fusion CX reported total income of ₹503.85 Cr, a significant decrease from ₹1,851.83 Cr in the previous full fiscal year ending March 31, 2026. This decline is notable as the June figure represents only a 9-month period, making it not directly comparable to the full year.
Profit Trend
The profit after tax for the period ending June 30, 2026, was ₹55.70 Cr, down from ₹169.84 Cr for the full fiscal year ending March 31, 2026. Similar to the revenue, this figure reflects a 9-month period and is not directly comparable to the previous year's full year profit.
Valuation
Fusion CX's implied P/E at the issue price of ₹289 is approximately 21.62, compared to peers trading in a range of 14.12 to 51.07.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which shares of an IPO are expected to trade in the unofficial market before they are listed. A positive GMP suggests that investors are optimistic about the stock's performance post-listing.
Subscription Demand
As of October 16, 2026, the overall subscription for the IPO was 4.68 times, with retail investors subscribing 5.99 times their allotted shares. The institutional category saw strong interest, with QIBs subscribing 4.21 times and NIIs at 4.73 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term investment horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in sectors with high competition or rapid changes, as these can lead to significant price fluctuations.
IPO Timeline, Explained
The IPO opens for subscription on October 14, 2026, and closes on October 16, 2026. Allotment of shares will be finalized by October 19, 2026, with the listing date set for October 22, 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit made when shares are sold on the stock exchange shortly after they are listed. However, there are risks involved, as market conditions can change rapidly, affecting the stock's performance on the listing day.
This evaluation is generated from Fusion CX's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Fusion CX IPO GMP today?
Fusion CX IPO GMP today is +₹13.5 (4.67%), indicating an estimated listing price of ₹303. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Fusion CX IPO?
The price band of Fusion CX IPO is ₹275.0–₹289.0 per share.
When does Fusion CX IPO open and close?
Fusion CX IPO opens on 14 October 2026 and closes on 16 October 2026.
When does Fusion CX IPO list on the stock exchange?
Fusion CX IPO listed on 22 October 2026 at ₹302.5.
What is the lot size for Fusion CX IPO?
The lot size for Fusion CX IPO is 51 shares, requiring a minimum investment of ₹14,739.
What is the price band for the IPO?
The price band for the IPO is ₹275 to ₹289.
What is the minimum investment required?
The minimum investment required is ₹14,739.
What is the lot size for this IPO?
The lot size for this IPO is 51 shares.
When is the listing date?
The listing date is October 22, 2026.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected price of the shares in the unofficial market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
14 Oct 2026
Close
16 Oct 2026
Allotment
19 Oct 2026
Listing
22 Oct 2026
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