Fusion CX IPO’nun ikinci gününde GMP yaklaşık %12; yönlendirme ve anahtar özellikler

Kısaca

GMP yaklaşık %12; Day 2 tablosu yayımlandı. Toplam 7,02 milyar Rs hedefli IPO; 1,73 crore yeni hisseler ve 69,90 lakh OFS var. Ankör katılımla toplam 315 crore Rs toplandı; listeleme 22 Ekim 2026 öngörülüyor

Ana mesele

Fusion CX IPO’su ikinci gününde GMP yaklaşık yüzde 12’ye ulaştı.

Ne değişti?

GMP’nin yüzde 12 olması, talep ve listeleme beklentisini güçlendirecek ana veri olarak öne çıktı.

Beni nasıl etkiler?

Okuyucular için yatırım kararında GMP ve listeleme beklentilerinin izlenmesi gerektiğini gösterir

Ne oldu?

Fusion CX IPO ikinci gününde GMP yaklaşık %12 olarak belirlendi.

Neden şimdi?

Aboneliklerin güncellenmesi ve anchor yatırımcıların katılımı piyasayı etkiledi.

Neden önemli?

GMP, listeleme potansiyel getirileri hakkında piyasa beklentisini yansıtabilir.

Kimler etkileniyor?

• Bireysel yatırımcılar
• Kurumsal yatırımcılar

Sektör ve piyasa etkisi

IPO talepleri ve listelenme eğilimleri üzerinde etkisi olabilir

Riskler

• GMP dalgalanmaları
• OF S miktarının etkileri
• Piyasa koşullarının değişmesi

Takip edilmesi gerekenler

• GMP hareketleri
• Kısıtlı lot büyüklüğündeki yatırım tutarları
• Listeleme tarihi ve anchor yatırımcı hareketleri

Haberin tamamı

Fusion CX IPO entered its second day of bidding on Thursday, with the issue commanding a grey market premium (GMP) of around 12%. The premium indicates expectations of a potential listing gain over the issue price, although grey market trends are unofficial and do not guarantee listing performance.On Day 1, the IPO was subscribed 41% overall against 1.40 crore shares on offer.

The Retail Individual Investors (RIIs) category saw stronger participation, with the portion subscribed 1.55 times against 25.52 lakh shares reserved for the segment.Fusion CX is looking to raise Rs 702 crore through its book-built IPO. The issue comprises a fresh issue of 1.73 crore shares aggregating to Rs 500 crore and an offer for sale (OFS) of 69.90 lakh shares worth Rs 202 crore.

While the fresh issue proceeds will go to the company, the OFS proceeds will be received by the selling shareholders.The company has fixed the price band at Rs 275–289 per share, with a lot size of 51 shares. Retail investors applying at the upper end of the price band will need a minimum investment of Rs 14,739 for one lot.The IPO will close on October 16, 2026, with the basis of allotment expected to be finalised on October 19.

The company's shares are tentatively scheduled to list on the NSE and BSE on October 22, 2026.Investor Ashish Kacholia and Kotak Mahindra Life Insurance were among the participants in Fusion CX's anchor book, through which the business process solutions provider raised Rs 315 crore ahead of its IPO.Kacholia, through Bengal Finance and Investment Pvt. Ltd., invested Rs 20 crore in the anchor allocation, taking his total investment in the company to Rs 55 crore.

Kotak Mahindra Life Insurance invested Rs 15 crore, taking its total investment to Rs 65 crore.

According to an exchange filing, the anchor shares were allotted at Rs 289 apiece, the upper end of the IPO price band.Nuvama Wealth Management is the book-running lead manager for the issue, while KFin Technologies has been appointed as the registrar.Fusion CX IPO Subscription StatusOn Day 1, the Fusion CX IPO was subscribed to 41% of the total issue size of 1.40 crore shares.The subscription details across investor categories were as follows:Retail Individual Investors (RIIs): Subscribed 1.55 times against 25.52 lakh shares on offer.Non-Institutional Investors (NIIs): Subscribed 46% against 38.29 lakh shares on offer.Qualified Institutional Buyers (QIBs) have not placed any bids against the 76.58 lakh shares reserved for the category.Fusion CX IPO GMP TodayThe latest grey market premium (GMP) for the Fusion CX IPO stands at Rs 33.5 per share, indicating a premium of around 12% over the upper end of the price band of Rs 289.

Based on the current GMP, the estimated listing price is Rs 322.5 per share.Note: The grey market premium is an unofficial indicator of investor sentiment and can fluctuate.

It does not guarantee the actual listing price or listing gains.Should You Subscribe to the Fusion CX IPO?According to a research report by Anand Rathi, Fusion CX is valued at 24.6 times its FY26 price-to-earnings (P/E) ratio and 16.6 times its FY26 enterprise value-to-EBITDA (EV/EBITDA) ratio at the upper end of the price band.

This translates into a post-issue market capitalisation of approximately Rs 41,720 million.The brokerage believes the IPO's valuation is reasonable compared with listed peers such as Firstsource Solutions, eClerx Services, Sagility India and Hinduja Global Solutions. It highlights the company's relatively stronger revenue growth, improving margins, healthy return ratios and increasing contribution from technology-enabled solutions as key factors supporting its valuation.

Based on these considerations, Anand Rathi has assigned a “Subscribe – Long Term” rating to the IPO.Master Capital Services, meanwhile, points to the growth potential of the customer experience (CX) industry, driven by rising customer expectations, digital adoption and the integration of artificial intelligence (AI) and automation. According to the brokerage, the global CX industry's total addressable market (TAM) is expected to expand from Rs 34.54 trillion in 2025 to Rs 35.03 trillion by 2027.

The digital CX industry was valued at Rs 1,805.6 billion in 2025, registering an average compound annual growth rate (CAGR) of 14.19% between 2021 and 2025. It is projected to grow at a CAGR of 19.04% to reach Rs 2,558.5 billion by 2027.Growth is expected to be supported by wider adoption of digital CX solutions, personalised customer engagement and generative AI.

Outsourced CX services are also gaining traction, with their share of the overall market projected to rise from 33% in 2025 to 34.5% by 2027. Cost efficiencies, faster deployment and access to advanced capabilities, including language translation and multilingual omnichannel support, are among the factors driving this trend. Fusion CX operates in the customer experience management and business process outsourcing segments, providing customer engagement solutions to businesses.

Master Capital Services believes the growing demand for outsourced customer support, digital engagement and AI-enabled services could create opportunities for the company to expand its service offerings.

The brokerage views the IPO as a potential long-term investment opportunity.How will the proceeds from the Fusion CX IPO be utilised?The company plans to utilise the net proceeds from the IPO primarily to repay or prepay, in full or in part, certain outstanding borrowings availed by the company and some of its direct and step-down subsidiaries.

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Kaynaklar

• Economic Times - Markets