Incorporated in 2004, Fusion CX Limited is a customer experience (CX) and business process solutions provider offering multichannel customer support through voice, email, chat, social media and messaging. The company also provides AI data infrastructure services, including data collection, data annotation, image and video labelling, and robotic teleoperations.
Fusion CX combines human expertise with technology and proprietary AI tools to deliver multilingual, omnichannel customer engagement, improve operational efficiency and automate customer interactions. Through its subsidiary, Omind Technologies, the company is developing AI-powered solutions for marketing, conversational AI, quality automation and workforce management.
As of June 30, 2026, Fusion CX operated 40 delivery centres across 13 countries, supported customers in 28 languages and served 208 customers, including 22 Fortune 1000 companies. Its key industry verticals include telecom and utilities, healthcare and life sciences, high-tech and travel, banking, financial services and insurance (BFSI), and retail.
Key Strengths
Fusion CX Ltd.’s revenue increased by 37% and profit after tax (PAT) rose by 129% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 1,367.85 | 1,385.15 | 1,143.25 | 768.02 |
| Total Income | 503.85 | 1,851.83 | 1,352.03 | 1,021.53 |
| Profit After Tax | 55.70 | 169.84 | 74.31 | 36.26 |
| EBITDA | 95.09 | 329.87 | 197.78 | 104.62 |
| NET Worth | 610.84 | 552.46 | 354.58 | 270.15 |
| Reserves and Surplus | 607.01 | 547.97 | 345.76 | 258.54 |
| Total Borrowing | 238.13 | 266.86 | 306.73 | 210.61 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by (i) Company; (ii) certain Subsidiaries (direct and certain step-down subsidiaries) | 275.70 |
| 2 | Investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Pvt.Ltd., for upgrading IT tools i.e. Arya and MindVoice | 61.15 |
| 3 | Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes | |
| Total | 336.84 |
| KPI | Jun 30, 2026 | Mar 31, 2026 |
|---|---|---|
| ROE | 8.99% | 30.30% |
| ROCE | 19.84% | 71.59% |
| Debt/Equity | 0.51 | 0.53 |
| RoNW | 9.12% | 30.74% |
| PAT Margin | 11.36% | 9.34% |
| EBITDA Margin | 20.03% | 19.48% |
| NAV | 48.35 | 43.73 |
| P/B (x) | 5.98 | 6.61 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 13.37 | 15.43 |
| P/E (x) | 21.62 | 18.73 |
| IPO Date | 14 to 16 Oct, 2026 |
| Listing Date | Thu, Oct 22, 2026T |
| Face Value | ₹1 per share |
| Price Band | ₹275 to ₹289 |
| Lot Size | 51 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,42,90,657 shares (agg. up to ₹702 Cr) |
| Fresh Issue | 1,73,01,038 shares (agg. up to ₹500 Cr) |
| Offer for Sale | 69,89,619 shares of ₹1 (agg. up to ₹202 Cr) |
| Share Holding Pre Issue | 12,70,59,295 shares |
| Share Holding Post Issue | 14,43,60,333 shares |
The promoters of the company are Pankaj Dhanuka, Kishore Saraogi, P N S Business Pvt.Ltd. and Rasish Consultants Pvt.Ltd.
| Share Holding Pre Issue | 99.03% |
| Share Holding Post Issue | 81.82% |
As per our analysis and Based on the information we have, this is the output.
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