Fusion CX shares list at 5.5% premium on NSE; here's how much investors made per lot

On the BSE, the stock started trading at ₹292 per share, up 1.04% from the issue price.

Fusion CX share price: Here's how much investors made per lot

The ₹702 crore initial public offering was a mix of a fresh issuance of 1.73 crore shares totalling ₹500 crore and an offer for sale (OFS) component of ₹202 crore by promoters PNS Business and Rasish Consultants.

The funds generated will be used to clear outstanding borrowings of the company and certain subsidiaries, invest in step-down units to upgrade IT tools, pursue inorganic growth 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.

The initial share sale was subscribed 4.45 times, as it mobilised bids for 6,24,64,392 shares compared to 1,40,40,000 shares on offer, as per the data on the NSE website.

Non-institutional investors subscribed their quota 4.50 times, while the qualified institutional buyers category was booked 4.01 times. The part set aside for retail investors received 5.70 times subscription.

Before the IPO, the company fetched ₹315 crore from anchor investors, including Kotak Mahindra Mutual Fund, Quant Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, ITI Mutual Fund, Kotak Mahindra Life Insurance, Bengal Finance and Investment Pvt Ltd, JM Financial Mutual Fund and foreign portfolio investors.

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