Fusion CX Ltd IPO
IT - Software
Price Band
₹275 – ₹289
Lot Size
51
Minimum Bid Quantity
51
Minimum Investment
₹14739
Issue Size
₹702Cr
Opens
2026-10-14
Closes
2026-10-16
Listing
22-10-2026
Subscription Status
Qualified Institutional Buyers
4.01 x
Non-Institutional Investor
4.48 x
Retail Individual Investor
5.57 x
Total
4.42 x
IPO Details
Issue Type
EQUITY
Face Value
₹1
Tick Size
1
ISIN
INE0N2201019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Fusion CX Limited is a customer experience (CX) service provider offering customer support and business process solutions across multiple industries. Its services cover voice, email, chat, social media, and messaging channels. The company also provides AI data infrastructure services, including data collection, data annotation and labelling, and teleoperations. Its key customer industries include telecom and utilities, high-tech and travel, banking, financial services and insurance (BFSI), retail, and healthcare and life sciences. The company serves customers through multilingual and omnichannel service delivery, using technology and AI-based tools. Its customer base includes businesses across various sectors, including 22 Fortune 1,000 companies, out of 208 customers as of June 30, 2026. Fusion CX has also acquired and integrated companies in the customer experience sector, contributing to its service offerings and customer base.
Pros
- • As of June 30, 2026, Fusion CX operated 40 delivery centres across 13 countries and provided support in 28 languages. Its delivery network includes onshore, nearshore, and offshore centres, enabling round-the-clock customer support across multiple markets.
- • The company has developed proprietary platforms, including Mind WorkPlace, MindVoice, and Arya, for workforce management, conversational AI, and real-time employee assistance. Its research and development (R&D) expenditure was Rs 23.10 crore in FY26, representing 1.27% of revenue from operations, with 51 employees engaged in R&D during the year.
- • The company has acquired businesses to expand its service capabilities and geographical presence. Recent acquisitions include Skycom BPO and Scribe.ology in 2025, which added bilingual customer support capabilities in Latin America and healthcare documentation services, respectively.
Cons
- • The company, its subsidiaries, and directors are involved in certain ongoing legal proceedings before various judicial and regulatory authorities. Adverse judgments in these cases could hurt the company’s reputation, business operations, profitability, and financial condition.
- • The top 10 customers of the company contributed Rs 244.48 crore (49.84%), Rs 948.50 crore (52.17%), Rs 602.16 crore (45.30%), and Rs 406.82 crore (41.04%) to revenue from operations for the three months ended June 30, 2026, FY26, FY25, and FY24, respectively. Failure to retain these customers, loss of contracts, or reduction in business from them could adversely affect the company’s revenue, profitability, and financial condition.
- • The company derives a significant portion of its revenue from customers outside India, accounting for Rs 441.74 crore (90.06%), Rs 1,612.95 crore (88.71%), Rs 1,071.33 crore (80.59%), and Rs 755.53 crore (76.22%) for the three months ended June 30, 2026, FY26, FY25, and FY24, respectively. North America alone contributed 79.56%, 81.70%, 75.34%, and 69.53% of revenue from operations during these periods. Any adverse geopolitical, economic, regulatory, or currency-related developments in these markets could disrupt operations and negatively affect the company’s revenue and financial condition.
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