Fusion CX IPO Last Day Today: Issue subscribed 1.23 times so far; should you apply? Anil Singhvi shares his view

Fusion CX IPO Day 3: The initial public offering (IPO) of Fusion CX Limited is open for subscription for the last day on October 16, 2026. According to the NSE data, the issue was subscribed 1.23 times overall as of 10:36 am on Friday. Among all the categories, retail investors showed the highest interest, while the qualified institutional buyers (QIBs) category remained largely unsubscribed.

Fusion CX IPO Day 3 subscription status so far

The IPO received bids for 1,72,35,960 shares against 1,40,40,000 shares offered across the categories, as of 10:36 am on October 16.

The retail individual investors (RII) category was subscribed 4.07 times. The non-institutional investors (NII) category received bids for 1.69 times the shares reserved for it. The QIB category was subscribed just 0.05 times.

Fusion CX IPO: Anil Singhvi's View

Zee Business Managing Editor Anil Singhvi has shared his views on the IPO. He highlighted revenue and profit growth, experienced promoters and the company's global presence as key positives. Fusion CX operates in 13 countries through 40 delivery centres.

The company also has an opportunity to expand its AI data services business. It plans to use part of the IPO proceeds to repay debt, which could help reduce interest costs, he said.

However, Singhvi highlighted three key risks investors should consider before applying. Around 85 per cent of the company's revenue comes from the US and Canada. AI-related disruption could affect its business, and future growth also depends significantly on acquisitions.

The company has a return on investment (ROI) of 30.3 per cent and a return on capital employed (ROCE) of 71.6 per cent, he added.

Fusion CX IPO: Should you apply?

According to Singhvi, investors who are willing to take risks and have a long-term investment horizon can consider the IPO. He considers the issue reasonably valued, rather than significantly undervalued or expensive.

Investors with a low risk appetite can consider waiting until listing and keeping a stop-loss below the IPO price if they choose to invest. Investors should also consider the company's dependence on North American markets, possible AI-related disruption and acquisition-led growth before making a decision.

Fusion CX IPO price band and lot size

Fusion CX IPO is a book-built issue worth Rs 702 crore. It comprises a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) worth Rs 202 crore.

The IPO opened for subscription on October 14 and will close on October 16, 2026. The price band is Rs 275 to Rs 289 per share, and the lot size is 51 shares. Retail investors need a minimum investment of Rs 14,739 at the upper end of the price band.

Who is the book-running lead manager and registrar?

Nuvama Wealth Management is the book-running lead manager, while KFin Technologies is the registrar.

Fusion CX IPO: Important dates

The allotment is expected to be finalised on October 19, 2026. Refunds and credit of shares are tentatively scheduled for October 21. The shares are expected to list on the BSE and NSE on October 22, 2026.

Fusion CX Financial performance

Fusion CX reported total income of Rs 1,851.83 crore in FY26, compared with Rs 1,352.03 crore in FY25. Its profit after tax (PAT) increased to Rs 169.84 crore from Rs 74.31 crore during the same period.

EBITDA rose to Rs 329.87 crore in FY26 from Rs 197.78 crore in FY25. The company's total borrowings declined to Rs 266.86 crore as of March 31, 2026, from Rs 306.73 crore a year earlier.

For the quarter ended June 30, 2026, Fusion CX reported total income of Rs 503.85 crore, profit after tax of Rs 55.70 crore and EBITDA of Rs 95.09 crore.

What does Fusion CX do?

Incorporated in 2004, Fusion CX provides customer experience and business process solutions. Its services include customer support through voice, email, chat, social media and messaging platforms.

The company also offers AI data services, including data collection, data annotation, image and video labelling, and robotic teleoperations. Through its subsidiary, Omind Technologies, it is developing AI-based solutions for marketing, conversational AI, quality automation and workforce management.