Kolkata-based Fusion CX files DRHP with Sebi to raise Rs 1,000 crore through IPO
Kolkata-based Fusion CX Limited has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise Rs 1,000 crore through an initial public offering (IPO). The company provides customer experience (CX) services using voice, chat, email, social media, and messaging platforms. It focuses on industries like telecom, high-tech, travel, BFSI, retail, and healthcare.
The IPO will include a fresh issue of equity shares worth Rs 600 crore and an offer for sale (OFS) of Rs 400 crore. The OFS will involve share sales by promoter entities, P N S Business Private Limited and Rasish Consultants Private Limited. Fusion CX may also conduct a pre-IPO placement of up to Rs 120 crore, which would reduce the size of the fresh issue accordingly.
The company plans to use Rs 291.8 crore from the IPO proceeds to repay or prepay loans taken by the company and its subsidiaries. Another Rs 74.7 crore will be used to invest in its subsidiaries Omind Technologies Inc. and Omind Technologies Private Limited for upgrading their IT tools. The rest of the funds will go toward acquisitions, strategic expansion, and general corporate purposes.
Founded in 2004, Fusion CX offers intelligent, multilingual customer engagement services using proprietary AI tools and digital technologies. The company has grown into a global operation with 40 delivery centers across 15 countries as of December 31, 2024. Its customer base includes 197 clients, among them 22 Fortune 1000 companies such as Ajio, Meesho, Arvind Fashion, Leonardo Hotels, and Insurance Express.
For the financial year 2023–24, Fusion CX reported revenue of Rs 991 crore and a net profit of Rs 36 crore. In the first nine months of FY25, it recorded revenue of Rs 925 crore and a profit of Rs 47 crore.
The IPO will be managed by
Nuvama Wealth Management
,
IIFL Capital Services
, and Motilal Oswal Investment Advisors. The company's shares will be listed on the BSE and NSE post-approval.
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