FUSION CX LIMITED IPO
Offer terms, application timeline, financial context and company details in one place.
Issue at a glance
- Issue size
- ₹0.14 crore
- Face value
- ₹1
- Issue method
- 100% Book Building
- Fresh issue
- ₹0.14 crore
- Symbol
- FUSIONCX
- ISIN
- INE0N2201019
Subscription
3.33×overall subscribed
Demand by bid price
About the company
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.
Financial snapshot
| Particulars | FY26 | FY27 |
|---|---|---|
| Revenue | ₹1,818.13 cr | ₹1,961.92 cr (7.91%) |
| PAT | ₹169.84 cr | ₹222.80 cr (31.18%) |
| PAT Margin | 9.34 % | 11.36 % (21.63%) |
| EBITDA | ₹329.87 cr | ₹380.36 cr (15.31%) |
| EBITDA Margin | 18.14 % | 19.39 % (6.89%) |
| ROE | 30.30 % | 8.99 % |
| ROCE | 71.59 % | 19.84 % |
| D/E | 0.48 | 0.38 |
What to consider
Business strengths
- Global Delivery Network Across 13 CountriesThe company operates 40 scalable delivery centres across 13 countries, providing 24x7 multichannel support in 28 languages. Its mix of onshore, nearshore and offshore centres enables cost-effective, culturally aligned service delivery for global clients.
- In-House AI-Driven R&D InvestmentsContinuous strategic R&D investments through subsidiary Omind have produced in-house platforms such as MindVoice and Arya, focused on CX transformation, automation and generative AI-enabled customer engagement.
- Proven Track Record of Inorganic GrowthThe company has a history of acquiring and successfully integrating businesses, including Ameridial Inc., Boomsourcing LLC and Sequential Technology International, LLC, expanding capabilities and driving revenue and profitability growth.
Key risks
- Outstanding Legal ProceedingsThe company, its subsidiaries and directors are involved in various outstanding legal proceedings, including criminal, tax, statutory and civil matters aggregating to significant amounts, which could adversely affect reputation, business and financial condition if decided unfavourably.
- Customer Concentration RiskTop 10 customers contributed 49.84%, 52.17%, 45.30% and 41.04% of revenue from operations for the stub period and Fiscals 2026, 2025 and 2024 respectively, exposing the company to risk from loss of or deterioration in these key relationships.
- Cybersecurity and Data Security RiskThe company's business involves extensive processing of sensitive and confidential information, exposing it to risks from hacking, malware, ransomware and phishing, which could lead to regulatory action, litigation, operational disruption and reputational harm.
Peer comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) |
|---|---|---|---|---|
| Fusion CX | 13.47 | 13.41 | 43.73 | 30.74 |
| Firstsource Solutions Ltd. | 9.77 | 9.56 | 61.80 | 22.27 |
| Eclerx Services Ltd. | 76.23 | 74.42 | 278.00 | 19.65 |
| AlliDigi Tech Limited | 53.96 | 53.96 | 235.00 | 14.12 |
| Inventurus Knowledge Solutions Ltd. | 43.12 | 42.26 | 568.00 | 31.41 |
| Sagility India Limited | 1.98 | 1.98 | 30.50 | 21.66 |
| Hinduja Global Solutions Ltd. | 6.92 | 6.92 | 53.00 | 51.07 |