Fusion CX has secured about Rs 315 crore from anchor investors at Rs 289 a share, with domestic mutual funds taking nearly 78% of the allocation ahead of its Rs 702 crore IPO.
Fusion CX Ltd has drawn strong demand ahead of its initial public offering, raising about Rs 315 crore from anchor investors at Rs 289 a share, the top end of its price band, according to exchange filings and reports by News18 and other outlets. The company, which offers customer experience and AI data infrastructure services, is aiming to raise Rs 702 crore through the share sale, which opens for public subscription on 14 October and closes on 16 October 2026.
Domestic institutions dominated the anchor round. News18 reported that Kotak Mahindra Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Quant Mutual Fund, ITI Mutual Fund and JM Financial Mutual Fund were among the buyers, with domestic mutual funds taking the bulk of the allocation. In total, 1,09,30,795 shares were placed with anchor investors, and 85,08,703 of those, or 77.84%, went to six domestic mutual funds through 15 schemes.
The roster also included Kotak Mahindra Life Insurance and Bengal Finance and Investment, which is backed by investor Ashish Kacholia. According to News18, Kotak Mahindra Life Insurance bought shares worth Rs 15 crore, taking its total investment in Fusion CX to Rs 65 crore after a recent secondary purchase of Rs 50 crore. Bengal Finance and Investment picked up shares worth Rs 20 crore, lifting Kacholia’s total exposure in the company to Rs 55 crore after a Rs 35 crore secondary transaction announced on 11 October.
Moneycontrol and other reports said the issue price was set at the top of the Rs 275-Rs 289 band, underlining investor appetite before the listing process begins. The company has said the fresh proceeds will be used to reduce debt, fund investments in subsidiaries and support other strategic initiatives, including technology and expansion plans. Foreign portfolio investors also participated in the anchor book, including Loomis Sayles Global Emerging Markets Equity Fund, managed by Natixis Investment Managers, and Meru Investment Fund PCC-Cell 1.
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