Ashish Kacholia and Kotak Life Drive Fusion CX’s Rs 315-Crore Anchor Book Ahead of Rs 702-Crore IPO.

Fusion CX, a business process solutions provider, is set to launch its initial public offering (IPO) with a total size of Rs 702 crore, of which Rs 500 crore will be raised through a fresh issue and Rs 202 crore through an offer for sale. The IPO is scheduled for subscription from October 14 to October 16, 2026, with a price band established between Rs 275 and Rs 289 per share. The allotment basis is expected to be finalized by October 19, while the shares are tentatively scheduled to list on the NSE and BSE on October 22, 2026. Notably, anchor investors like Ashish Kacholia and Kotak Mahindra Life Insurance participated significantly, showcasing strong institutional interest.

The grey market sentiment surrounding Fusion CX indicates cautious optimism, as the IPO’s valuation places it on par with industry peers. Brokerage firm Swastika Investmart has given a ‘Neutral’ rating, pointing out that while short-term listing gains may be modest, long-term investors could find value in the company’s growth potential given its focus on AI-driven customer solutions and operational efficiency. The IPO price band reflects a valuation of approximately 20.5-21.6 times FY26 earnings, which could mean limited re-rating opportunities in the short term.

For Indian investors, Fusion CX’s IPO presents a dual opportunity: potential short-term gains coupled with a reasonable entry point for long-term investment. The company’s innovative approach in leveraging AI within its business model may attract retail investors looking for growth in the evolving customer experience sector. However, given the cautious rating from analysts, investors should weigh their risk appetite and investment horizon before participating in this IPO.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)