As per DRHP filed by Fusion CX, the IPO will include an offer for sale (OFS) of shares totalling up to ₹400 crore and a new issue of equity shares up to ₹600 crore.

Fusion CX Files DRHP with SEBI to Raise ₹1,000 Crore via IPO

Kolkata-based customer support outsourcing company Fusion CX is set to tap the capital markets, having filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise ₹1,000 crore through an initial public offering (IPO).

IPO Structure

As per DRHP filed by Fusion CX, the IPO will include an offer for sale (OFS) of shares totalling up to ₹400 crore and a new issue of equity shares up to ₹600 crore. The company's promoters, Rasish Consultants Private Limited and P N S Business Private Limited, will sell stakes in the OFS.

Utilisation of Proceeds

The net proceeds from the new offering will be used by Fusion CX for several strategic objectives:

Borrowing Repayment: ₹291.8 crore will be used to pay back some of the company's and its subsidiaries' outstanding debts.

Technology Investment: To improve IT tools, ₹74.7 crore will be invested in Omind Technologies Inc. and Omind Technologies Private Limited, step-down companies.

Inorganic Growth & Business Purposes: Acquisitions, other strategic projects, and general business purposes will be the uses of the remaining money.

The company has also proposed a pre-IPO placement of up to ₹120 crore, which, if completed, will proportionally reduce the size of the fresh issue.

Company Profile and Performance

Founded in 2004, Fusion CX leverages proprietary AI tools to deliver multilingual, omnichannel customer engagement solutions. As of December 31, 2024, the corporation has a global network with 40 delivery facilities spread throughout 15 nations. Its client base includes 197 customers, featuring 22 Fortune 1000 companies and prominent names such as Ajio, Meesho, Arvind Fashion, and Leonardo Hotels.

For FY24, Fusion CX reported ₹991 crore in revenue and ₹36 crore in profit after tax (PAT). For the nine months ended FY25, the company posted revenues of ₹925 crore and a PAT of ₹47 crore.

Lead Managers and Listing

The IPO's book-running lead managers are Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited, and Nuvama Wealth Management Limited. Both the BSE and the NSE are to list the equity shares.

Conclusion

Fusion CX’s upcoming IPO signals the company’s intent to strengthen its balance sheet, enhance its technological capabilities, and pursue strategic growth opportunities in the rapidly evolving customer experience sector. With a diverse global footprint and a robust client base, the IPO is poised to attract significant investor interest. However, as with all public offerings, potential investors are advised to carefully review the company’s fundamentals and consult financial experts before making investment decisions.

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