Fusion CX's Rs 702-crore IPO reached 60% subscription on its second day, led by strong retail demand. The company plans to use the funds to reduce debt and scale its AI engagement business.
The initial public offering of Fusion CX gathered pace on its second day of bidding, with the company securing bids for over 85 lakh shares against an offer size of 1.4 crore shares. Retail investors have led the subscription process, with this segment booked 2.23 times. Non-institutional investors have shown moderate participation, reaching 75 percent of their allotted portion. The bidding process is scheduled to conclude on October 16.
The public issue is priced in the range of Rs 275 to Rs 289 per share. For investors applying for the IPO, the minimum investment required is Rs 14,739 for a single lot of 51 shares. With the subscription period set to close tomorrow, the basis of allotment is expected to be finalized by October 19, with the stock likely to debut on exchanges on October 22.
Financially, Fusion CX reported total income of Rs 1,852 crore for FY26, marking a 37 percent increase from the Rs 1,352 crore reported in the previous fiscal year. The company's profit after tax also showed growth, rising to Rs 170 crore from Rs 74 crore in the prior year. This financial performance is a key factor that investors are currently weighing against the valuations set for the IPO.
A significant portion of the IPO proceeds, which totals Rs 500 crore in fresh capital, is intended for the repayment of outstanding debt. For investors, this debt reduction is a critical monitorable, as it may improve the company's financial flexibility post-listing. Beyond debt settlement, the firm plans to direct capital toward its subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to scale its proprietary AI-powered engagement tools. The expansion into AI-driven services represents a strategic push by the company to evolve its product offerings.
While unofficial grey market tracking suggests an 11 percent premium, these valuations are speculative and fluctuate based on market sentiment, meaning they do not necessarily reflect the actual listing performance. As the company moves toward its exchange debut, the ability to manage debt effectively and successfully integrate its AI expansion plans will remain important areas for shareholders to track.