The Fusion CX IPO opens on 14 October 2026 and closes on 16 October, with a price band of ₹275 to ₹289 a share. The issue is worth ₹702 crore. One lot is 51 shares, so the minimum application at the upper band is ₹14,739.
Fusion CX IPO key facts
| Detail | Fusion CX IPO |
|---|---|
| Price band | ₹275–289 per share |
| Face value | ₹1 |
| Issue size | ₹702 crore |
| Structure | Fresh issue of about ₹500 crore plus offer for sale of about ₹202 crore |
| Lot size | 51 shares |
| Minimum at upper band | ₹14,739 |
| Opens / closes | 14 October / 16 October 2026 |
| Allotment | 19 October 2026 |
| Refunds and demat credit | 21 October 2026 |
| Listing | 22 October 2026 on BSE and NSE |
| Registrar | KFin Technologies |
The lead managers are Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors. The offer for sale is by promoters P N S Business and Rasish Consultants, so that money goes to the sellers and not to the company. The ₹202 crore figure is an estimate until the share count is final.
What does Fusion CX do?
Fusion CX, incorporated in 2004, runs customer support for other companies. It handles voice, chat, email, social media and messaging in 28 languages. Its subsidiary Omind Technologies builds AI tools for conversational AI and quality checks.
The US and Canada gave 85.26% of FY2026 revenue from operations. India gave 11.29%. Telecom and technology clients gave 47.34%. The top five clients gave 39.55%.
How are the financials?
| ₹ crore | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total income | 1,021.53 | 1,352.03 | 1,851.83 |
| EBITDA | 104.62 | 197.78 | 329.87 |
| Profit after tax | 36.26 | 74.40 | 169.84 |
| Net worth | 270.15 | 354.66 | 552.54 |
| Total borrowing | 210.61 | 306.73 | 266.86 |
Profit more than doubled in FY2026. The company has grown partly through acquisitions, the latest being VA Platinum in Australia, its 16th, according to a Free Press Journal report. Return on net worth was 30.74% for FY2026.
Where will the money go?
Only ₹36.66 crore of the fresh issue is tied to named uses. ₹29.19 crore is for repaying borrowings and ₹7.47 crore is for investing in subsidiaries Omind Technologies Inc and Omind Technologies Private Limited. The rest is for unidentified acquisitions and general corporate purposes.
Promoters hold 99.03% before the issue and 81.82% after it.
What our data shows
At ₹702 crore, this is the 40th largest of 99 mainboard IPOs in 2026. At the upper band the market value is ₹4,172.01 crore, about 24.6 times FY2026 profit. That is our arithmetic, not a figure from the offer document. Of the 100 mainboard IPOs listed this year, 66 opened above the issue price, and the median listing gain is 6.92%. On the last 10 mainboard listings, the final grey market premium was off by 11 percentage points on average. The Fusion CX GMP page has no grey market quote yet.
What happens next
Bidding runs from 14 to 16 October. Allotment is due on 19 October and shares list on 22 October. Track the issue on the Fusion CX IPO page and see other issues on the upcoming mainboard IPOs list. The issue was reported earlier as ₹700–800 crore, down from ₹1,000 crore in the draft prospectus, according to the Free Press Journal.
