Fusion CX Files Draft Papers with SEBI to Raise Rs 1000 Crore via IPO

Fusion CX Limited, a customer experience (CX) service provider, has filed the draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise Rs. 1000 crore through an initial public offering (IPO).

According to the DRHP, the Initial Public Offering of the Kolkata-headquartered company consists of a Fresh Issue of equity shares aggregating up to Rs. 600 crore and an Offer for Sale of equity shares aggregating up to Rs. 400 crore. The OFS comprises stake sale by the Promoter Selling Shareholders, P N S Business Private Limited and Rasish Consultants Private Limited.

Fusion CX proposes to utilize proceeds of the fresh issue to the tune of Rs 292 crore for payment of debt, Rs 75 crore towards investment in step-down subsidiaries - Omind Technologies Inc and Omind Technologies Private Limited - for upgrading IT tools.

Additionally, funds will be used for pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

Fusion CX is a customer experience (CX) service provider delivering high-end, complex, and integrated CX services across multiple channels including voice, email, chat, social media and message, and focused on key verticals such as telecom, high-tech growth and travel, BFSI, retail and healthcare.

Incorporated in 2004, Fusion CX blends deep domain expertise with a portfolio of proprietary AI tools to enable intelligent, multilingual, and omnichannel engagement at scale through a broad spectrum of generative AI-driven technologies that enhance customer engagement, operational efficiency, and digital transformation.

It has developed a multilingual global network with 40 delivery centers spread across 15 countries as on December 31, 2024. It’s client portfolio of 197 customers includes 22 Fortune 1000 companies and some of its key customers include DMEC Capital Services, Telaid, Achieve Collection, Ameriflex, Coastline, Ajio, Meesho, Call Core Media, Arvind Fashion, Propneu S.A., Leonardo Hotels, Insurance Express, K2 ClaimsServices Sentry Credit, and Traya.

On the financial front, Fusion CX reported revenue from operations of Rs. 991 crore and a profit after tax (PAT) of Rs. 36 crore for FY24, while its revenue for nine months ended FY25 (9MFY25) was Rs. 925 crore with a PAT of Rs. 47 crore..

Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Investment Advisors are the book running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.