Private sector insurer Kotak Mahindra Life Insurance, investor Mukul Agrawal backed Sanshi Fund-I and investor Ashish Kacholia were among those who acquired shares worth around ₹120 crore in Fusion CX through secondary-market transactions ahead of the global customer experience solutions provider’s planned initial public offering (IPO).

Kolkata-based Fusion CX’s promoter selling shareholders, P N S Business Private Limited and Rasish Consultants Private Limited, have completed the secondary share transfers aggregating 41.52 lakh equity shares at a price of ₹289 per share, the upper limit of the price range set for the IPO.

According to an advertisement published on Sunday, the transfers of the shares to the group of investors were completed on October 9. The shares transferred represent 3.19 per cent of Fusion CX’s pre-offer equity share capital on a fully diluted basis.

The company’s ₹702-crore IPO will open for subscription on October 14 and close on October 16. The anchor investor book is scheduled to open on October 13. The company has fixed a price band of ₹275-289 per share, valuing the company at approximately ₹4,200 crore at the upper end of the price band.

The public issue comprises a fresh issue of equity shares aggregating up to ₹500 crore and an offer for sale (OFS) of equity shares worth up to ₹202 crore by promoter selling shareholders P N S Business Private Limited and Rasish Consultants Private Limited.

The company proposes to utilise ₹275 crore from the net proceeds of the fresh issue towards repayment or prepayment of certain outstanding borrowings availed by the company and its subsidiaries.

Another ₹61 crore is earmarked for investment in its step-down subsidiaries, Omind Technologies Inc and Omind Technologies Private Limited, to upgrade IT tools, including Arya and MindVoice. The remaining proceeds will be utilised for pursuing inorganic growth through unidentified acquisitions and for general corporate purposes.

Incorporated in 2004 by co-founders Pankaj Dhanuka and Kishore Saraogi, Fusion CX provides customer experience and AI data infrastructure services to enterprises across multiple industries.

Fusion CX, which currently has 40 strategically located delivery centres across 15 countries, reported revenue from operations and net profit of ₹1,818 crore and ₹169 crore, respectively, in FY26.

Published on October 11, 2026