Fusion CX Limited
Promoters Pankaj Dhanuka · Kishore Saraogi · PNS Business Private Limited · Rasish Consultants Private Limited
Against an issue price of ₹289. Split- and bonus-adjusted official closes — a past move, never a forecast.
Fusion CX Limited raised ₹702 crore through a mainboard initial public offer.
The filing places it in IT - Services and names four promoters: Pankaj Dhanuka, Kishore Saraogi, PNS Business Private Limited and Rasish Consultants Private Limited.
The book was open from 14 October 2026 to 16 October 2026.
The issue was priced at ₹289 a share, from a band of ₹275 to ₹289.
Of the offer, ₹500 crore is a fresh issue of shares — money that goes to the company — and ₹202 crore is an offer for sale, which goes to existing shareholders selling down. Valued at the final issue price.
The issuer reported the offer subscribed 5.00 times the shares on offer. That is its own final figure, filed with the exchange after the book closed — not a reading we took while bidding was open.
1.27 crore shares were bid at cut-off — applications that accept whatever price the issue is finally set at rather than naming one.
The shares listed on 22 October 2026.
The last official close on file is ₹278 (5 November 2026), which is 3.7% below the issue price.
It now trades as FUSIONCX, and its filed financials are on its company page.
Shares sold in the issue at ₹289 last closed at ₹278.2.
See FUSIONCX’s filed financials and price history →Official exchange closes, restated for splits, bonuses and rights issues since listing. A record of past price movement, not a forecast.
Share counts converted at ₹289, the final issue price.
- How it was priced
- Book-built — the price was discovered inside a band from the bids received
- Listing sought at
- BSE And NSE
- Designated exchange
- NSE
- Discount
- None offered
- Registered office
- Eastern India
- Company website
- www.fusioncx.com
- Registrar
- KFin Technologies Limited
- Lead managers
- Nuvama Wealth Management Limited
- IIFL Capital Services Limited
- Motilal Oswal Investment Advisors Limited
- Bidding opens14 Oct 2026
- Bidding closes16 Oct 2026
- Basis of allotmentnot published
Not published in the exchange feeds we ingest — we do not estimate it.
- Listing22 Oct 2026
This is the issuer’s own final figure, filed with the exchange once bidding had closed — not a reading we took while the book was open. The exchange publishes only a running cumulative figure and no history, so for an issue nobody polled live this filing is the only account of the book that exists. It covers the whole offer and carries no breakdown by category and no timestamp.
A snapshot WE took while the book was still open, not the final figure. It is earlier than the filed number above and can only be lower — never quote the two as one measurement. Taken 17 Oct 2026, 7:00 pm IST.
- Anchor investors45.0%1,09,30,795 sh
- Qualified institutional buyers30.0%72,87,198 sh
- Non-institutional investors15.0%36,43,598 sh
- Retail individual investors10.0%24,29,065 sh
No part of the offer was set aside for market maker, reserved portion or other.
The portion of the offer set aside for each category before bidding opened, as the issuer filed it. The anchor allocation is filed as its own line rather than inside the institutional one, so these add up to the whole offer. Shares as filed; the percentages are computed against the offer's own share count.
Every bid names a price, or accepts whatever the final price turns out to be. This shows how many shares have been bid for at each price or above it — so the bar at the top of the band counts only the bids willing to pay it.
The columns are near-identical because they are: demand falls only 0.14% between ₹275 and ₹289, so almost every bid was willing to pay the top of the band. The axis starts at zero — the flatness is the finding, not a missing scale.
These accept whatever price the issue is finally set at, so they have no place on the price axis and are not in the chart.
How much of the demand falls away between the bottom and the top of the band.
Cumulative shares bid at or above each price in the band, from the exchange's own demand schedule. Bids placed at cut-off carry no price and are counted separately.
We have not extracted an anchor allotment list for this issue.
- Anchor investors — first trancheSEBI ICDR 2018 Reg. 32(5)(b) — 50% of the anchor allocation, 30 days from allotment21 Nov 202650% of this tranche
- Anchor investors — second trancheSEBI ICDR 2018 Reg. 32(5)(a) — the remaining 50% of the anchor allocation, 90 days from allotment20 Jan 202750% of this tranche
- All other pre-issue capitalSEBI ICDR 2018 Reg. 17 — all other pre-issue capital, 6 months from allotment22 Apr 2027whole tranche releases on this date
- Promoters' minimum contributionSEBI ICDR 2018 Reg. 16(1)(a) — promoters' minimum contribution, 18 months from allotment22 Apr 2028whole tranche releases on this date
Computed from the SEBI ICDR 2018 lock-in rules, not disclosed by the issuer or the exchange. The regulation counts from the date of allotment, which no feed we ingest publishes, so these are counted from the listing date and fall at most two to three business days later than the true expiry.
Every offer document must set out the reasoning behind its own price: what the company earned in the years before it came to market, and what multiple of those earnings it is asking for. This is that chapter — the issuer’s argument for its price, not our assessment of it.
| Year | Basic | Diluted | Weight |
|---|---|---|---|
| FY2024 | ₹2.88 | ₹2.88 | 1 |
| FY2025 | ₹5.90 | ₹5.88 | 2 |
| FY2026 | ₹13.47 | ₹13.41 | 3 |
Figures as printed in the offer document's "Basis for Offer Price" chapter. A record of the case the issuer made for its own price, not our valuation of it.
Everything we extracted from this issue's offer document is the pricing justification rather than the restated statements — it is shown under how the offer was priced. The restated financial statements themselves have not been extracted for this issue.
We have not extracted this section from the offer document for this issue yet. It is read from the abridged prospectus, and several offer documents are served as .zip archives or as scanned pages with no text layer.
The offer document must name the listed companies the issuer considers comparable, and print their valuation figures beside its own. This is that list — the issuer’s choice of comparison, not ours.
| Company | P/E | P/B | RoNW | EPS | Income |
|---|---|---|---|---|---|
| Alldigi Tech Consolidated Limitednot in our universe | — | — | — | 53.96 | ₹6,080 cr |
| eClerx Services Consolidated Limitednot in our universe | — | — | — | 76.23 | ₹42,182 cr |
| FirstSource Consolidated Solutions Limitednot in our universe | — | — | — | 9.77 | ₹95,638 cr |
| Hinduja Global Consolidated Solutions Limitednot in our universe | — | — | — | 6.92 | ₹48,570 cr |
| Inventurus Consolidated Knowledge Solutions Limitednot in our universe | — | — | — | 43.12 | ₹32,110 cr |
| Sagility India Consolidated Limitednot in our universe | — | — | — | 1.98 | ₹72,908 cr |
The issuer's own figures as printed at the head of the same table — its claim about itself, on the same basis as its claims about the companies below.
Figures as PRINTED by the issuer in its own offer document. The comparison set is the issuer's choice, not ours.
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
IIFL Capital Services Limited 2024 – 2026 | 37 20 measurable | +21.1% | 8 of 16 | 0 of 2 | 0 of 2 |
Motilal Oswal Investment Advisors Limited 2022 – 2026 | 43 11 measurable | +16.4% | 4 of 9 | 2 of 5 | 0 of 1 |
Nuvama Wealth Management Limited 2023 – 2026 | 22 7 measurable | +6.1% | 1 of 2 | 0 of 1 | 0 of 1 |
| Firm | Issues | Typical listing move | Below issue @30d | @90d | @180d |
|---|---|---|---|---|---|
Kfin Technologies Limited 2021 – 2026 | 140 46 measurable | +8.9% | 20 of 41 | 5 of 11 | 3 of 7 |
A count of what happened to the other issues each firm was named on, computed from exchange closes. Not a rating, not a ranking, and not a view on the firm.
- Prospectus· PDF · exchange archive19 Oct 2026
- Red herring prospectus (RHP)· ZIP · exchange archive
- Draft red herring prospectus (DRHP)· ZIP · exchange archive27 May 2025
- Anchor investor allotment· ZIP · exchange archiveThis document is a scan with no text layer — readable by eye, not by machine.
- Financial ratios advertisement· ZIP · exchange archive
- In-principle approval (XBRL)· XML · exchange archive
- Listing filing (XBRL)· XML · exchange archive
Filed with SEBI and the exchanges by the issuer. These are the source for every figure on this page.
Compiled from NSE and SEBI offer documents and exchange feeds. A description of the issue and of the bids received — not investment advice, and not a view on whether to apply. No grey-market premium, no allotment lookup and no listing-gain estimate is published here.