Fusion CX files draft papers with SEBI to raise Rs 1,000 crore via IPO

IPO

Fusion CX Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,000 crore through an initial public offering (IPO).

The offering comprises a fresh issue of shares worth Rs 600 crore and an offer for sale (OFS) of up to Rs 400 crore by existing promoters and shareholders. As per the DRHP, promoters PNS Business and Rashish Consultants will each divest Rs 200 crore worth of shares through the OFS.

Proceeds from the fresh issue will be used primarily for debt repayment by the company and its subsidiaries, as well as investments in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, for upgrading proprietary IT tools, Arya and MindVoice. As of April 30, 2025, the company's consolidated outstanding borrowings stood at Rs 302.16 crore (fund-based) and Rs 26.53 crore (non-fund-based).

Nuvama Wealth Management, IIFL Capital, and Motilal Oswal Investment Advisors are acting as the lead managers to the issue.

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Fusion CX is a customer experience (CX) service provider that delivers high-end, integrated CX solutions across voice, email, chat, social media, and messaging platforms. With a strong emphasis on technology, the company combines domain expertise with proprietary AI tools to enable intelligent, multilingual, and omnichannel engagement. It serves clients in key verticals including telecom and utilities, healthcare and life sciences, high-tech and technology (HTT), BFSI, and retail.

The company has a track record of strategic acquisitions, which have contributed to its growth in services and customer base. As of December 31, 2024, Fusion CX operated 40 delivery centers across 15 countries, supporting a multilingual global network.

In FY24, the company reported revenue of Rs 991.32 crore, down from Rs 1,104.99 crore in FY23. Net profit rose to Rs 67.85 crore from Rs 59.79 crore in the previous fiscal year.

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