Fusion CX Files DRHP With SEBI for ₹1000 Crore IPO

Fusion CX, a Kolkata-based customer experience (“CX”) service provider, has filed the draft red herring prospectus (DRHP) with SEBI. It plans to go public and raise ₹1,000 crore from the Initial Public Offering (IPO). 

Fusion CX Files IPO Details

According to the DRHP, 

• The IPO will comprise a fresh issue of face value ₹1 each, aggregating up to ₹600 crore, and an offer for sale (OFS) of face value ₹1 each, aggregating up to ₹400 crore.
• The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE, as per the DRHP.The company will determine the price band and minimum bid lot for the IPOy in consultation with the book-running lead manager.
• Nuvama Wealth Management Limited, IIFL Capital Services, and Motilal Oswal Investment Advisors Limited are the book-running lead managers of the public issue, while Kfin Technologies Limited is the registrar.

Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds from the issue for the following purposes:

• Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the company and certain subsidiaries.
• Investment in the step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to upgrade IT tools, namely Arya and MindVoice.
• Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives.
•  General corporate purposes.

About Fusion CX

Incorporated in 2004, Fusion CX is a Kolkata-based customer experience (“CX”) service provider that delivers high-end, complex, and integrated CX services across multiple channels, including voice, email, chat, social media, and messaging, cost-effectively. Technology plays a central role in the service delivery model.

With a human and tech philosophy at its core, Fusion CX blends deep domain expertise with a portfolio of proprietary AI tools to enable intelligent, multilingual, and omnichannel engagement at scale through a broad spectrum of generative AI-driven technologies that enhance customer engagement, operational efficiency, and digital transformation.

The company has grown into a global operation with 40 delivery centres across 15 countries as of December 31, 2024. Its customer base includes 197 clients, 22 Fortune 1000 companies such as Ajio, Meesho, Arvind Fashion, Leonardo Hotels, and Insurance Express.

Company Financials

For the financial year 2023–24, Fusion CX reported revenue of ₹ 991 crore and a net profit of ₹36 crore. In the first nine months of FY25, it recorded revenue of ₹925 crore and a profit of ₹47 crore.

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