Fusion CX shares to list today: Check GMP ahead of market debut
Fusion CX makes its stock market debut with a 5% grey market premium after raising Rs 702 crore through its IPO. Strong subscription, rising profits, AI investments and expansion plans shape investor expectations.
Shares of Fusion CX are set to make their stock market debut on the BSE and NSE on Thursday, amid mildly positive grey market sentiment. The IPO is commanding a grey market premium (GMP) of around 5%, indicating expectations of a modest listing gain over the issue price.Fusion CX raised Rs 702 crore through its book-built IPO, comprising a fresh issue of 1.73 crore shares worth Rs 500 crore and an offer for sale (OFS) of 69.90 lakh shares aggregating to Rs 202 crore.
While the proceeds from the fresh issue will go to the company, the OFS proceeds will accrue to the selling shareholders. The IPO was priced in the range of Rs 275–Rs 289 per share, with a lot size of 51 shares.The public issue opened for subscription on October 14, 2026, and closed on October 16, 2026, garnering an overall subscription of 4.68 times. The retail investor category was subscribed 5.99 times, while the non-institutional investor (NII) segment saw 4.73 times subscription.
The qualified institutional buyer (QIB) portion was subscribed 4.21 times.Investor Ashish Kacholia and Kotak Mahindra Life Insurance were among the investors participating in Fusion CX’s anchor book, through which the business process solutions provider raised Rs 315 crore ahead of the IPO.Kacholia, through Bengal Finance and Investment Pvt. Ltd., invested Rs 20 crore in the anchor allocation, taking his total investment in the company to Rs 55 crore.
Kotak Mahindra Life Insurance invested Rs 15 crore, taking its total investment to Rs 65 crore. According to an exchange filing, anchor shares were allotted at Rs 289 apiece, the upper end of the IPO price band.Live EventsNuvama Wealth Management Ltd., IIFL Capital Services Ltd. and Motilal Oswal Investment Advisors Ltd. are the book-running lead managers for the issue, while KFin Technologies has been appointed as the registrar.Fusion CX IPO GMP TodayFusion CX’s latest grey market premium (GMP) stands at Rs 14 per share, representing a premium of around 5% over the upper end of the IPO price band of Rs 289.
At the prevailing GMP, the estimated listing price works out to Rs 303 per share.GMP note: The grey market premium is an unofficial indicator of investor sentiment and can fluctuate significantly before listing. It does not guarantee the actual listing price or potential gains for investors.How will proceeds from the Fusion CX IPO be utilised?The company plans to utilise the net proceeds from the IPO primarily to repay or prepay, in full or in part, certain outstanding borrowings availed by the company and some of its direct and step-down subsidiaries.
It has earmarked Rs 275.70 crore for this purpose, which will help reduce its debt burden.Additionally, Rs 61.15 crore will be invested in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt. Ltd., to upgrade IT tools, including Arya and MindVoice. The remaining proceeds will be used to pursue inorganic growth through unidentified acquisitions and other strategic initiatives, along with general corporate purposes.
The total estimated utilisation of the net proceeds is Rs 336.84 crore.Financial PerformanceFusion CX Ltd. reported a 37% year-on-year increase in total income to Rs 1,852 crore in FY26, compared with Rs 1,352 crore in FY25. Profit after tax (PAT) surged 129% to Rs 170 crore in FY26 from Rs 74 crore in the previous financial year.About Fusion CX Ltd.Incorporated in 2004, Fusion CX Limited is a customer experience (CX) and business process solutions provider offering multichannel customer support through voice, email, chat, social media and messaging.
The company also provides AI data infrastructure services, including data collection, data annotation, image and video labelling, and robotic teleoperations.Fusion CX combines human expertise with technology and proprietary AI tools to deliver multilingual, omnichannel customer engagement, improve operational efficiency and automate customer interactions. Through its subsidiary, Omind Technologies, the company is developing AI-powered solutions for marketing, conversational AI, quality automation and workforce management.
As of June 30, 2026, Fusion CX operated 40 delivery centres across 13 countries, supported customers in 28 languages and served 208 customers, including 22 Fortune 1000 companies. Its key industry verticals include telecom and utilities, healthcare and life sciences, high-tech and travel, banking, financial services and insurance (BFSI), and retail.Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.
They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here(You can now subscribe to our ETMarkets WhatsApp channel)
