Fusion CX IPO 2026: Details, Price Band, GMP, Financials & Analysis

Fusion CX IPO is a ₹702 crore book-built issue scheduled to open for subscription from October 14 to October 16, 2026. The issue comprises a fresh issue of ₹500 crore and an offer for sale (OFS) of ₹202 crore. The shares are proposed to be listed on BSE and NSE on October 22, 2026.

The price band is ₹275–₹289 per share, with a face value of ₹1 per share. The minimum application is one lot of 51 shares, requiring an investment of ₹14,739 at the upper price band.

Fusion CX Ltd. provides customer experience management, business process outsourcing and AI-enabled data services to enterprises across multiple industries and countries. Its operations combine customer support, proprietary technology, automation and artificial intelligence.

Fusion CX IPO Details

Fusion CX IPO Timeline

The dates are tentative and may change.

Fusion CX IPO GMP

The latest supplied Fusion CX IPO GMP is ₹40 as of October 9, 2026. Against the upper price band of ₹289, this indicates an unofficial estimated listing price of ₹329.

The estimated listing price is calculated by adding the GMP to the upper price band. GMP reflects unofficial grey-market activity and is not a guarantee of listing performance.

Disclaimer: GMP figures are indicative, may fluctuate, and should not be used as the sole basis for an investment decision.

Fusion CX IPO Subscription Status

The Fusion CX IPO subscription window will open on October 14, 2026 and close on October 16, 2026. Live subscription figures are not yet available in the supplied data.

Subscription figures should be updated once bidding begins, using the latest available exchange data.

Fusion CX IPO Day-wise Subscription Trend

The day-wise trend will show how demand develops across investor categories during the IPO period.

Fusion CX IPO Current Subscription Data

Live subscription data is not yet available. The following table can be updated after the bidding window opens.

Fusion CX IPO Lot Size

The minimum application is 51 shares, and applications can be made in multiples of the lot size.

Fusion CX IPO Reservation

About Fusion CX

Fusion CX Ltd., incorporated in 2004, provides customer experience management and business process services to enterprises. Its services operate across telephone, email, online chat, social media and messaging platforms.

The company has also expanded into AI data infrastructure, including data sourcing, data annotation, image and video tagging, and robotic teleoperation. Through its subsidiary, Omind Technologies, it is developing technology platforms for AI-powered marketing, conversational intelligence, automated quality monitoring and workforce management.

As of June 30, 2026, Fusion CX had:

• 40 delivery centres across 13 countries.
• Customer support capabilities in 28 languages.
• Relationships with 208 customers, including 22 Fortune 1000 companies.
• A presence across telecom and utilities, healthcare, BFSI, retail, technology and travel.

Revenue Mix and Geographic Presence

During FY26, Fusion CX recorded revenue from operations of ₹1,818.14 crore, representing year-on-year growth of 36.77%.

Its operating revenue was distributed across several industries:

Geographically, the US and Canada contributed 85.26% of revenue, followed by India at 11.29%, the UK and Europe at 3.11%, and other markets at 0.34%.

Customer concentration is also a factor to monitor: the five largest customers contributed 39.55% of total revenue, while the ten largest accounted for 49.66%.

Competitive Strengths

• Global delivery network: 40 centres across 13 countries provide international service-delivery capabilities.
• AI-enabled technology: The company is expanding into AI data services, conversational intelligence and automated quality monitoring.
• Acquisition experience: Its acquisition-led expansion has helped broaden its capabilities and geographical footprint.
• Industry diversification: It serves telecom, healthcare, BFSI, retail, technology and other sectors.
• Customer relationships: Long-standing enterprise relationships can support recurring business.
• Experienced management: Management experience and technology investments support the company's service delivery and expansion strategy.

Fusion CX IPO Objectives

The company proposes to use the net proceeds from the issue for debt repayment, technology investment and future growth.

The supplied figures identify ₹336.84 crore of planned allocations against a ₹500 crore fresh issue. The remaining proceeds are described as supporting acquisitions, strategic initiatives and general corporate purposes; the final offer documents should be checked for the complete allocation and reconciliation.

Fusion CX Financial Performance

The company reported growth in income, profit and EBITDA between FY25 and FY26.

Restated consolidated financials (₹ crore):

The figures above reproduce the supplied source data. The reported net-worth figures appear inconsistent with the reserves and surplus figures and other financial information, so they should be verified against the company's offer documents before publication.

FY26 total income increased to ₹1,851.83 crore from ₹1,352.03 crore in FY25. PAT rose to ₹169.84 crore from ₹74.31 crore, while EBITDA increased to ₹329.87 crore from ₹197.78 crore.

Fusion CX Key Financial Ratios

FY26 shows strong reported returns and operating margins. However, the June 2026 ratios cover a shorter period, so they should not be compared directly with full-year figures without accounting for the reporting period.

Fusion CX IPO Valuation

The supplied figures indicate a post-IPO P/E of 18.73x and promoter holding of 81.82%. Investors should verify the valuation calculations against the final price band, share count and offer documents.

Promoter Holding

The promoters listed in the supplied information are:

• Pankaj Dhanuka
• Kishore Saraogi
• P N S Business Pvt. Ltd.
• Rasish Consultants Pvt. Ltd.

Promoter holding is reported to decline from 99.03% before the IPO to 81.82% after the IPO.

Fusion CX IPO Peer Comparison

The peer group includes business process services and technology-enabled service providers. Their business mix, scale, margins and valuation multiples can differ substantially, so comparisons should consider more than P/E alone.

Risks Investors Should Consider

• Customer concentration: The ten largest customers contribute 49.66% of revenue, making customer retention important.
• Geographic concentration: The US and Canada account for 85.26% of revenue, exposing the business to demand and regulatory changes in these markets.
• Competition: The BPO and customer experience industry faces competition from global service providers, automation and AI-driven solutions.
• Technology investment: Continued spending on AI platforms and IT tools may be required to remain competitive.
• Acquisition execution: Future acquisitions can involve integration challenges and additional financial commitments.
• Valuation and financial data: Investors should verify the final offer valuation and the apparent net-worth data inconsistencies before making a decision.

Should You Invest in Fusion CX IPO?

Fusion CX offers exposure to a global customer experience and business process services company that is expanding into AI-related services. Its delivery network, multilingual capabilities and enterprise customer base are potential advantages. FY26 total income increased to ₹1,851.83 crore, while PAT rose to ₹169.84 crore and EBITDA to ₹329.87 crore.

The company also plans to use part of the IPO proceeds to repay borrowings and invest in technology platforms, which may support its financial position and future service capabilities. However, the concentration of revenue in North America and among its largest customers creates risks. Competition, automation, AI adoption and acquisition integration also require attention.

The latest supplied Fusion CX IPO GMP is ₹40 as of October 9, 2026. Against the upper price band of ₹289, this indicates an unofficial estimated listing price of ₹329.

Before evaluating the IPO, investors should verify the financial statements, the allocation of fresh proceeds and the final valuation in the offer documents. The decision should consider earnings sustainability, customer concentration, technology investment requirements and peer valuations—not GMP alone.

Fusion CX IPO Allotment Status

The tentative allotment date is October 19, 2026. Investors can check their application status through the registrar's IPO status portal after the basis of allotment is finalized.

Refunds and demat credits are scheduled for October 21, 2026, followed by the tentative listing on October 22, 2026.

Fusion CX IPO Registrar

• Kfin Technologies Ltd.
• Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally.
• Website: https://ipostatus.kfintech.com/
• Phone: 040-79615565
• Email: fusion.ipo@kfintech.com

Fusion CX IPO Lead Managers

The book-running lead managers are:

• Motilal Oswal Investment Advisors Ltd.
• IIFL Capital Services Ltd.
• Nuvama Wealth Management Ltd.
•  

Fusion CX Company Details

• Company: Fusion CX Ltd.
• Registered Office: Plot No. Y9, Block EP & GP, Sector 5, Bidhan Nagar, Salt Lake, Kolkata, West Bengal – 700091.
• Website: https://www.fusioncx.com/
• Phone: 033 4508 6520
• Email: secretarial@fusioncx.com

Fusion CX IPO Summary

Fusion CX IPO is a ₹702 crore book-built issue comprising a ₹500 crore fresh issue and a ₹202 crore offer for sale. The IPO is scheduled to open from October 14 to October 16, 2026, with a price band of ₹275–₹289 per share and a lot size of 51 shares. 

Fusion CX provides customer experience management, BPO and AI-enabled data services, operating 40 delivery centres across 13 countries and supporting 28 languages.

The latest supplied Fusion CX IPO GMP is ₹40 as of October 9, 2026. Against the upper price band of ₹289, this indicates an unofficial estimated listing price of ₹329.

In FY26, the company reported total income of ₹1,851.83 crore, PAT of ₹169.84 crore and EBITDA of ₹329.87 crore. Investors should evaluate its growth prospects alongside customer and geographic concentration, competition, acquisition execution and the final IPO valuation.

FAQs

What is Fusion CX IPO?

Fusion CX IPO is a ₹702 crore book-built issue comprising a fresh issue of ₹500 crore and an OFS of ₹202 crore.

When will Fusion CX IPO open?

The IPO is scheduled to open on October 14, 2026.

What is the closing date of Fusion CX IPO?

The IPO will close on October 16, 2026.

What is the Fusion CX IPO price band?

The price band is ₹275 to ₹289 per share.

What is the Fusion CX IPO lot size?

The minimum lot size is 51 shares, requiring ₹14,739 at the upper price band.

What is the latest Fusion CX IPO GMP?

The latest supplied GMP is ₹40 as of October 9, 2026, implying an unofficial estimated listing price of ₹329 at the upper price band.

What is the Fusion CX IPO listing date?

The tentative listing date is October 22, 2026, on BSE and NSE.

What are the objectives of Fusion CX IPO?

The stated objectives include repayment or prepayment of borrowings, investment in Omind Technologies' IT tools, acquisitions, strategic initiatives and general corporate purposes.

Who is the registrar of Fusion CX IPO?

Kfin Technologies Ltd. is the registrar.

Who are the lead managers of Fusion CX IPO?

Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd. and Nuvama Wealth Management Ltd. are the listed lead managers.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. IPO details, GMP, financial data and dates may change. Investors should review the official offer documents and conduct their own due diligence before making investment decisions.

Author: Komal Bhatt

Komal Bhatt is a finance content writer at InvestKraft, specialising in well-researched articles on financial products, stock markets, and investment opportunities, with a particular focus on unlisted shares.

She holds a Master’s degree in Commerce from the University of Delhi, which gives her a solid academic foundation in finance and business. With over three years of hands-on experience in creating digital finance content, Komal has developed a clear understanding of investor needs through her work on wealth management, NISM certification programs, and market education materials.

Komal is passionate when it comes to breaking down complex financial concepts into simple, accurate and actionable insights. Her goal is to help everyday investors understand markets better and make more informed decisions based on reliable, research-backed information.