Fusion CX Ltd has successfully raised ₹315.90 crore from anchor investors at ₹289 per share ahead of its ₹702 crore public offering. The IPO opens for public subscription on October 14, 2026, and closes on October 16, 2026.
Fusion CX Limited has officially closed its anchor investor book, securing ₹315.90 crore from institutional participants. The company allotted shares at ₹289 apiece, which is the upper end of its price band. This marks the start of the company's ₹702 crore initial public offering (IPO), which is now open for public subscription from October 14 to October 16, 2026.
The public offer includes a fresh issue of shares worth ₹500 crore and an offer for sale (OFS) of ₹202 crore. The company plans to use the majority of the fresh funds, approximately ₹276 crore, to pay down its existing debt. A portion of the proceeds, about ₹61 crore, is earmarked for investments in its subsidiary, Omind Technologies, to bolster its artificial intelligence capabilities.
Institutional interest was robust during the anchor round. Domestic mutual funds were particularly active, contributing nearly 78 percent of the total anchor book. Major participants included Kotak Mahindra Mutual Fund, ICICI Prudential Mutual Fund, and Motilal Oswal Mutual Fund. Additionally, Kotak Mahindra Life Insurance and investment vehicles linked to market veteran Ashish Kacholia also participated, highlighting institutional interest in the company’s customer experience and data infrastructure business model.
For the financial year 2026, the company reported revenue of ₹1,851.83 crore and a net profit of ₹169.84 crore. The business serves a diverse client base across sectors such as telecom, healthcare, and banking, though it holds a heavy reliance on the US market, which accounts for over 70 percent of its total revenue.
While the anchor round shows institutional backing, investors may want to monitor several business risks. The company faces high client concentration, with its top 10 clients contributing approximately 50 percent of its revenue. Furthermore, the company operates in a people-intensive industry with an employee attrition rate near 30 percent. The business is also exposed to potential disruption from rapid advancements in generative artificial intelligence, which could change the demand for traditional customer experience services. Additionally, its high dependence on the US market means it remains sensitive to geopolitical and currency fluctuations.
The IPO is set to list on the stock exchanges on October 22, 2026. Prospective investors will track how the company executes its debt reduction plan and manages the potential impact of AI on its long-term growth.