Fusion CX IPO Day 3: Subscribed 4.45x; Retail Demand at 5.70x
Key Highlights
Fusion CX IPO (₹406 crore mainboard IPO) was subscribed 4.45x on Day 3 of 3, with Retail at 5.70x. See category-wise subscription and day-wise bids.
Last updated: Fri, Oct 16, 2026, 10:30 PM IST · mainboard · & · Day 3 of 3
- Fusion CX IPO subscribed 4.45x overall on Day 3, up from 1.10x on Day 2
- Total bids: 6,24,63,882 shares against 1,40,40,000 shares on offer
- Category-wise: 4.01x, 4.50x, 5.70x
- Price band: ₹275 to ₹289 per share
- The issue closes on Fri, Oct 16, 2026
The Fusion CX IPO concluded its third and final day of bidding with an overall subscription multiple of 4.45x as of October 16, 2026, 10:30 PM IST. This represents an increase from the 1.10x subscription recorded on the second day. The retail category emerged as the most-bid segment, reaching a subscription level of 5.70x by the close of the issue.
Fusion CX IPO Status: Day 3
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Wed, Oct 14, 2026 | 57,29,697 | 165.59 | 0.41x |
| Day 2 | Thu, Oct 15, 2026 | 1,54,47,390 | 446.43 | 1.10x |
| Day 3 | Fri, Oct 16, 2026 | 6,24,63,882 | 1,805.21 | 4.45x |
Category-wise subscription
| Category | Shares offered | Day 2 bids | Day 2 (x) | Day 3 bids | Day 3 (x) |
|---|---|---|---|---|---|
| QIB | 76,58,183 | 3,63,630 | 0.05x | 3,06,88,026 | 4.01x |
| NII | 38,29,090 | 55,61,448 | 1.45x | 1,72,34,736 | 4.50x |
| of which individual NII | — | 50,59,659 | — | 1,59,34,134 | — |
| of which corporate NII | — | 2,87,487 | — | 5,93,436 | — |
| of which other NII | — | 2,14,302 | — | 7,07,166 | — |
| Retail | 25,52,727 | 95,22,312 | 3.73x | 1,45,41,120 | 5.70x |
| Total | 1,40,40,000 | 1,54,47,390 | 1.10x | 6,24,63,882 | 4.45x |
All investor categories subscribed to more than their allotted quotas by the end of the issue. The retail category led the demand at 5.70x, followed by non-institutional investors at 4.50x and qualified institutional buyers at 4.01x. The total subscription multiple rose from 1.10x on day two to 4.45x on the final day, reflecting increased participation across all segments.
Fusion CX IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Wed, Oct 14, 2026 to Fri, Oct 16, 2026 |
| Listing date | To be announced |
| Face value | ₹1 per share |
| Price band | ₹275 to ₹289 per share |
| Lot size | 51 shares |
| Total issue size | 1,40,40,000 shares (₹406 crore) |
| Listing at | NSE & BSE |
| Lead managers | Nuvama Wealth Management Ltd., IIFL Capital Services Ltd., Motilal Oswal Investment Advisors Pvt Ltd |
| K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.) |
About Fusion CX
Fusion CX Ltd. is a customer experience service provider that delivers integrated services across voice, email, chat, social media, and messaging channels. As per the DRHP, the company operates across key verticals including telecom and utilities, healthcare, life sciences, high-tech growth and travel, BFSI, and retail. It utilizes diverse revenue models such as fixed fee contracts and transaction-based pricing. The company maintains a global network of 40 delivery centers across 15 countries as of December 31, 2024, and focuses on blending domain expertise with proprietary AI tools to support customer engagement and digital transformation.
Fusion CX Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 1,818.14 | 1,329.30 | 991.32 |
| Total income (₹ crore) | 1,851.83 | 1,352.03 | 1,021.53 |
| Profit after tax (₹ crore) | 169.84 | 74.40 | 36.26 |
| Net worth (₹ crore) | 560.68 | 358.44 | 271.14 |
| Total borrowings (₹ crore) | 168.87 | 212.10 | 134.25 |
| (₹) | 13.47 | 5.90 | 2.88 |
Revenue from operations grew from ₹1,329.30 crore in FY 2024-25 to ₹1,818.14 crore in FY 2025-26. Profit after tax rose from ₹74.40 crore in FY 2024-25 to ₹169.84 crore in FY 2025-26. The company reported a margin of 9.34% in FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Repayment/prepayment, in full or in part, of certain outstanding | 275.70 |
| Investment in our step-down subsidiaries, Omind Technologies Inc | 61.15 |
Risk Factors as per the DRHP
- The top 10 customers contributed 44.26% of revenue as of December 31, 2024, indicating high customer concentration.
- The company faces risks related to the potential inability to keep pace with rapid technological changes in the industry.
- There are outstanding legal proceedings involving the company, its subsidiaries, and its directors.
- The company is subject to constraints on overseas investments and relies on personal guarantees provided by promoters for certain loan facilities.
How to Check Fusion CX IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.) (www.kfintech.com).
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Fri, Oct 16, 2026, 10:30 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.