Fusion CX is finalizing the share allotment for its Rs 702-crore IPO today after receiving 4.45 times subscription. The shares are expected to list on the stock exchanges on October 22. With retail investors leading the demand, applicants can verify their allotment status through the registrar or stock exchanges.
Fusion CX is completing the share allotment process for its Rs 702-crore initial public offering today. The company, which operates in the business process management sector, received total subscriptions of 4.45 times during the bidding period. Retail investors showed the highest interest, covering their reserved portion 5.70 times. Meanwhile, the non-institutional investor segment was subscribed 4.50 times, and qualified institutional buyers subscribed 4.01 times.
The Rs 702-crore IPO is structured as a mix of a fresh issue worth Rs 500 crore and an offer for sale valued at approximately Rs 202 crore. The company plans to use the fresh capital primarily to reduce debt at both the parent firm and its subsidiaries. A portion of the funds is also earmarked for upgrading technological infrastructure through investments in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited. These funds are intended to enhance proprietary customer engagement tools, including the Arya and MindVoice platforms.
The allotment process is managed by KFin Technologies. Applicants can check their status on the registrar's website or through the BSE and NSE portals. For those who do not receive an allotment, refunds are expected to be processed starting October 21. Successful bidders will have their shares credited to their demat accounts ahead of the stock market debut, which is scheduled for October 22.
Leading up to the listing, the unofficial grey market premium has been observed around Rs 19. Based on the IPO’s upper price band of Rs 289, this unofficial figure indicates a potential listing gain of approximately 6.57 percent. Investors should be aware that grey market premiums are speculative, unregulated, and do not provide a guaranteed indication of how the stock will perform on the actual listing day. The IPO was managed by book-running lead managers Nuvama Wealth Management, IIFL Capital Services, and Motilal Oswal Investment Advisors. Moving forward, investors may monitor the company’s progress in executing its debt reduction plan and the operational outcomes of its technology infrastructure investments.