The initial public offering of Fusion CX reached its third and last day of bidding on Friday. The share sale has drawn attention from various market participants, including institutional and retail investors, as it moves toward concluding its subscription period.
The public issue seeks to gather Rs 702 crore through a combination of a fresh share issuance and an offer for sale. The price range has been established between Rs 275 and Rs 289 for each share, with a lot requirement set at 51 shares for interested applicants.
Prior to the public launch, the business process solutions provider secured commitments in its anchor investor round, drawing participation from notable investors who were allotted shares at the upper end of the valuation band. Lead managers and registrars are overseeing the share allocation process.
By the second day of bidding, the offering achieved an overall subscription rate of 1.40 crore shares on offer. Individual retail participants drove stronger demand within their designated portion, while institutional and non-institutional categories recorded varying levels of subscription.
Market observers noted an unofficial grey market premium surrounding the stock, pointing to potential listing gains over the issue price. Brokerage reports highlighted the firm's growth trajectory, margin improvements, and reasonable valuation relative to listed industry peers, alongside risks tied to market trends.
Funds raised through the fresh issue are intended to address debt reduction, technology upgrades in subsidiaries, and strategic corporate initiatives. The final allotment is slated for later in the month, followed by a tentative listing on major stock exchanges.
As the bidding window closes, attention shifts to the formal compilation of bids and the subsequent distribution of shares to successful applicants across all investor categories.
Key numbers
- Total IPO size: Rs 702 crore
- Price band: Rs 275-289 per share
- Lot size: 51 shares
- Day 2 overall subscription: 1.10 times
- Retail portion subscription: 3.73 times
What a board might note
- How does the allocation of Rs 275.70 crore toward debt repayment impact the company's leverage profile mentioned by Ashish Kacholia and Kotak Mahindra Life Insurance in the anchor book?
- What implications do the FY26 total income of Rs 1,852 crore and PAT of Rs 170 crore hold for the valuation metrics noted by Anand Rathi?
- How might the planned investment of Rs 61.15 crore in subsidiaries for IT tool upgrades affect future operational margins?
Source: Economic Times Markets, 16 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
