The Fusion CX IPO listed on 22 October 2026. Shares opened at ₹305 on the NSE, 5.54% above the issue price of ₹289. One lot of 51 shares showed a gain of ₹816 at the open.
What the grey market said
The last GMP we recorded was ₹13.50 (4.67%), which pointed to a listing at ₹302.50. The last grey market quote of ₹13.50 pointed to a listing near ₹302.50, and the stock opened ₹2.50 above that. GMP is an unofficial dealer quote, not an exchange price.
The premium was ₹33 on 14 October, the opening day, and ₹6 on 16 October when the book closed. It was ₹17 on 21 October.
Listing day numbers
| Item | Figure |
|---|---|
| Issue price | ₹289 |
| NSE opening price | ₹305 |
| Move vs issue price | +5.54% |
| One lot (51 shares) at the open | ₹15,555 |
| Result on one lot | a gain of ₹816 |
How the IPO was subscribed
The ₹702 crore issue closed on 16 October at 4.45x. QIBs bid 4.01x, NIIs 4.5x and retail 5.7x. At 4.45x it was the 71st most subscribed of 105 mainboard IPOs that closed in 2026, against a median of 24.96x. Allotment was out on 19 October and refunds and demat credit followed on 21 October.
What our data shows
Of the 101 mainboard IPOs listed in 2026 before this one, 67 opened above their issue price, and the median listing gain is 7%. On the last 10 mainboard listings before this one, the final GMP was off by 11.18 percentage points on average. It overstated the listing gain 6 times and understated it 4 times. Fusion CX a premium at the open is one more data point in that record.
About the company
Fusion CX, set up in 2004, runs customer experience services across voice, chat, email and messaging. The US and Canada gave 85.26% of FY2026 revenue. Profit after tax rose from ₹74.31 crore in FY2025 to ₹169.84 crore in FY2026. The issue was ₹500 crore of fresh shares and an offer for sale of about ₹202 crore by promoters. Promoter holding falls from 93.02% to 78.94%. Lead managers were Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors.
What happens next
The shares trade on the NSE and BSE from today. See the Fusion CX IPO page for the issue details and the subscription page for the bid history. Compare with earlier debuts in our IPO performance table.
