BSE List Price : ₹292.00

NSE List Price : ₹305.00

Subscription

Category	Times
QIBs	4.21x
HNIs	4.73x
Retail	5.99x
Total : 4.68x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	1	51	₹14,739
Retail Maximum	13	663	₹191,607
S - HNI Minimum	14	714	₹206,346
S - HNI Maximum	67	3,417	₹987,513
B - HNI Minimum	68	3,468	₹1,002,252

About the Company

Fusion CX Limited is a Kolkata-based Business Process Management (BPM) and Customer Experience (CX) solutions provider. Incorporated in 2004, the company provides customer support, technical assistance, digital engagement and business process outsourcing services to clients across multiple industries.

Business Model: The company operates through an outsourced customer experience and technology-enabled services model, helping businesses manage customer interactions, improve service quality and streamline operations through human agents and AI-powered tools.

Products & Services

• Customer Support Services

• Technical Support

• Voice and Non-Voice Contact Centre Services

• Digital Customer Experience Management

• Sales and Lead Generation

• Back-Office and Business Process Outsourcing

• AI-Powered Customer Experience Solutions

• Cloud-Based Communication and Automation Tools

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹11049.91	₹984.84	₹39.84	₹603.22
2024	₹9913.15	₹1274.29	₹36.26	₹768.02
2025	₹1352.03	₹1662.53	₹74.40	₹1150.69
2026	₹1851.83	₹441.03	₹169.84	₹1401.41

Company Promoter

Pankaj Dhanuka

Kishore Saraogi

P N S Business Private Limited

Rasish Consultants Private Limited

Know before investing

• • Strengths

  Established Industry Presence: Founded in 2004, the company has experience in delivering outsourced customer experience and business process management services.

  Global Operations: Fusion CX serves international customers, with a significant contribution from North American markets.

  Technology Integration: The company uses AI-enabled tools, automation and digital platforms to support customer engagement and improve operational efficiency.

  Diversified Industry Exposure: Its services cater to sectors including telecom, technology and other business services.

  Revenue Scale: The company reported revenue from operations of approximately 1,000 crore in FY24, reflecting its established operating scale.

  Improved Profitability: Profit after tax increased from 74.40 crore in FY25 to 169.84 crore in FY26, according to reported IPO financial information.

  Experienced Management: The company is led by promoters Pankaj Dhanuka and Kishore Saraogi, who have experience in the business services sector.

• • Risks

  Geographical Concentration: The United States and Canada contributed approximately 85.26% of FY26 revenue, exposing the company to changes in North American demand and business conditions.

  Customer Concentration: The top five customers contributed approximately 39.55% of FY26 revenue, while the top ten contributed approximately 49.66%.

  Industry Concentration: Telecom and technology accounted for approximately 47.34% of FY26 revenue from operations.

  Employee-Related Costs: The business depends on a large workforce. Wage inflation, employee attrition and recruitment costs could affect profitability.

  Competition: The company competes with domestic and international BPM providers, technology-enabled service companies and automation platforms.

  Acquisition Risk: Growth through acquisitions can create integration challenges and additional financial commitments.

  Borrowings: Total borrowings stood at approximately 266.86 crore as of 31 March 2026, making debt management an important consideration.

  Profitability Sustainability: The sharp increase in FY26 profit may not necessarily be repeated in future years.

Objects of the Issue & Utilisation of proceeds

Fresh Issue: 500 crore.

Offer for Sale (OFS): Approximately 202 crore.

Repayment of Borrowings: Approximately 29.19 crore will be used to repay or prepay certain outstanding borrowings of the company and its subsidiaries.

Investment in Technology: Approximately 7.47 crore will be invested in step-down subsidiaries to upgrade IT tools, including Arya and MindVoice.

Acquisitions and Strategic Initiatives: A portion of the proceeds is intended for unidentified acquisitions and other strategic initiatives.

General Corporate Purposes: The remaining eligible proceeds will be used for general corporate purposes, subject to the offer documents.

Important: The fresh issue proceeds will go to the company, while the OFS proceeds will go to the selling shareholders.

Company Address

Plot No. Y9, Block EP & GP, Sector-5, Bidhan Nagar, Salt Lake, Kolkata, West Bengal – 700091, India.

Contact Number: 033 4508 6520

Email: secretarial@fusioncx.com

IPO Registrar

KFin Technologies Limited

Address: Selenium Tower-B, Plot No. 31 & 32, Financial District, Nanakramguda, Gachibowli, Hyderabad, Telangana – 500032, India.

Contact Number: 040-7961 5565

Email: fusion.ipo@kfintech.com