Fusion CX IPO opens Oct 14, price band set at ₹275-₹289 per share; check lot size and key dates

The ₹702 crore initial public offering of AI-powered customer experience solutions provider Fusion CX will open for subscription on October 14. The issue will end on October 16. The price band has been set at ₹275 to ₹289 per share.

The initial share sale is a mix of a fresh issuance of 1.73 crore shares aggregating to ₹500 crore and an offer for sale (OFS) component of ₹202 crore by promoters PNS Business and Rasish Consultants.

The net proceeds from the fresh issue will be used for the following objectives:

• Debt clearance of certain borrowings availed by the company and certain subsidiaries
• Investment in step-down subsidiaries, Omind Technologies and Omind Technologies Inc, for upgrading IT tools
• Pursue inorganic growth through unidentified acquisitions and general corporate purposes

"Our company expects to receive benefits of listing of the Equity Shares on the Stock Exchanges, including to enhance our visibility and our brand image among our existing and potential customers and creation of a public market for the Equity Shares in India," the company said in its red herring prospectus.

Fusion CX IPO: Lot size

Retail investors can apply for a minimum of 51 shares and in multiples thereof. The company has reserved 75% of the net offer for qualified institutional buyers, 10% for retail investors and 15% for non-institutional investors.

Fusion CX IPO: Allotment and listing date

The company's shares will be listed on the BSE and the NSE.

Fusion CX, incorporated in 2004, offers end-to-end customer experience (CX) solutions through platforms and AI-powered tools across multiple channels, including email, voice, social media, chat and messaging.

It caters to sectors including high-tech, telecom, banking, financial services and insurance (BFSI), retail, travel and healthcare.

The company has a global network of 40 delivery centres across 13 nations. It recently expanded its presence in Australia through the acquisition of VA Platinum, which offers offshore staffing and managed workforce solutions.