New Delhi, Oct 15 (PTI) The initial public offer of AI-powered customer experience solutions provider Fusion CX Ltd received 1.10 times subscription on the second day of bidding on Thursday.
The Rs 702-crore IPO received bids for 1,54,32,498 shares against 1,40,40,000 shares on offer, as per data available with the NSE.
The category for retail investors garnered 3.72 times subscription, while the quota for non-institutional investors was subscribed 1.45 times. The portion for qualified institutional buyers (QIBs) received 5 per cent subscription.
Fusion CX Ltd on Tuesday raised Rs 315 crore from anchor investors.
The IPO will close on October 16. The price band has been fixed at Rs 275-289 per share.
At the upper end of the price band, the company
is expected to command a post-issue market capitalisation of over Rs 4,170 crore.
The public issue comprises a fresh issue of shares worth up to Rs 500 crore and an offer for sale (OFS) of shares aggregating up to Rs 202 crore by existing shareholders P N S Business Pvt Ltd and Rasish Consultants Pvt Ltd.
Fusion CX plans to use Rs 275 crore from the fresh issue proceeds to repay or prepay certain borrowings of the company and its subsidiaries. Another Rs 61 crore will be invested in its step-down subsidiaries, Omind Technologies Inc and Omind Technologies Pvt Ltd, to upgrade IT tools. The remaining proceeds will be used for acquisitions, other strategic initiatives and general corporate purposes.
The Kolkata-headquartered company provides customer experience and AI-driven solutions across sectors, including telecommunications, healthcare, technology, travel, banking, financial services, insurance and retail.
The equity shares are proposed to be listed on the BSE and NSE on October 22. PTI SUM SUM BAL
BAL
/images/ppid_59c68470-image-179199752645187187.webp)
