Fusion CX IPO
Fusion CX IPO is a mainboard IPO raising ₹702 Cr at ₹275 – ₹289 a share. It listed on 22 Oct 2026 at ₹305, +5.5% against its issue price of ₹289, and trades at ₹288 today (−0.4% since issue). It was subscribed 4.45× in total.
4.4 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. stated in prospectus. Checked: exchange issue size Rs702 Cr vs derived Rs702 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 2% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| FirstSource Solutions Limited | 22.27× | 15% | ₹9.56 |
| eClerx Services Limited | 19.65× | 53% | ₹74.42 |
| Alldigi Tech Limited | 14.12× | 29% | ₹53.96 |
| Inventurus Knowledge Solutions Limited | 31.41× | 7.58% | ₹42.26 |
| Sagility India Limited | 21.66× | 6.47% | ₹1.98 |
| Hinduja Global Solutions Limited | 51.07× | 2% | ₹6.92 |
| This issue | 21.6× | 30.74% | ₹13.41 |
derived: cut-off price Rs289 / stated EPS Rs13.41 (Fiscal 2026 (year ended March 31, 2026) diluted EPS, restated consolidated financial information). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.