Fusion CX, a customer support outsourcing solutions provider, has filed the draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise ₹1,000 crore through an initial public offering (IPO).

According to the DRHP, the IPO of the Kolkata-headquartered company consists of a fresh issue of equity shares worth up to ₹600 crore and an offer for sale of shares aggregating up to ₹400 crore. The OFS comprises stake sales by the promoters P N S Business Private Limited and Rasish Consultants Private Limited.

Fusion CX proposes to utilise the net proceeds of the fresh issue for repayment of certain borrowings, investment in step-down subsidiaries, and meet general corporate purposes. It intends to use ₹291.8 crore towards repayment of certain outstanding borrowings availed by the company and its subsidiaries (direct and certain step-down subsidiaries); ₹74.7 crore towards investment in step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited for upgrading IT tools. The remaining fund will be used for pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

A pre-IPO placement may be undertaken by the company aggregating up to ₹120 crore, prior to filing of the RHP with the RoC. If the pre-IPO placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement, it said in the DRHP.

Incorporated in 2004, Fusion CX blends deep domain expertise with a portfolio of proprietary AI tools to enable intelligent, multilingual, and omnichannel engagement at scale through a broad spectrum of generative AI-driven technologies that enhance customer engagement, operational efficiency, and digital transformation. Pankaj Dhanuka, Kishore Saraogi, P N S Business Private Limited and Rasish Consultants Private Limited are the promoters of the company.

The company has developed a multilingual global network with 40 delivery centres spread across 15 countries as of December 31, 2024. Its client portfolio of 197 customers includes 22 Fortune 1000 companies and some of its key customers include DMEC Capital Services, Telaid, Achieve Collection, Ameriflex, Coastline, Ajio, Meesho, Call Core Media, Arvind Fashion, Propneu S.A., Leonardo Hotels, Insurance Express, K2 ClaimsServices Sentry Credit, and Traya.

Fusion CX reported revenue from operations of ₹991 crore and a profit after tax (PAT) of ₹36 crore for FY24, while its revenue for the nine months ended FY25 (9M FY25) was ₹925 crore with a PAT of ₹47 crore.

Nuvama Wealth Management Limited, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and the NSE.

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