New Delhi: Kotak Mahindra Life Insurance, ace investor Ashish Kacholia and Mukul Agrawal-backed Sanshi Fund-I have invested Rs 120 crore in Fusion CX ahead of its Rs 702-crore initial public offering (IPO), scheduled to open on October 14.
The investment was made through secondary share transactions involving 41.52 lakh equity shares at Rs 289 apiece, the upper end of the IPO price band.
Major Investors Buy Shares
Kotak Mahindra Life Insurance acquired 17.30 lakh shares worth Rs 50 crore, while Kacholia invested Rs 35 crore through personal holdings and Bengal Finance and Investment.
Sanshi Fund-I purchased 8.65 lakh shares worth Rs 25 crore. Bhansali Fincom and other investors also participated.
The transactions, completed on October 9, represented 3.19 per cent of the company’s pre-offer equity capital on a fully diluted basis.
IPO Opens October 14
Fusion CX’s Rs 702-crore IPO will open on October 14 and close on October 16. Anchor investors can participate from October 13.
The company has fixed a price band of Rs 275-289 per share, implying a valuation of approximately Rs 4,200 crore at the upper end.
The offering includes a fresh issue worth Rs 500 crore and an offer for sale of Rs 202 crore by promoters.
How Funds Will Be Used
Fusion CX plans to utilise Rs 275 crore to repay outstanding borrowings and Rs 61 crore to upgrade technology platforms through its subsidiaries.
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The remaining proceeds will support acquisitions and general corporate requirements.
Business And Financial Performance
Founded in 2004, Fusion CX provides customer experience management and artificial intelligence data infrastructure services.
The company operates 40 delivery centres across 13 countries and employed 13,735 people as of June 2026.
For FY26, Fusion CX reported revenue of Rs 1,818 crore and net profit of Rs 169 crore, highlighting its financial scale ahead of the public offering.
