Business · Markets · 10 hrs ago
Investors buy 3.19% stake in Fusion CX ahead of ₹702 crore IPO
Kotak Mahindra Life Insurance, investor Ashish Kacholia and Mukul Agrawal-backed Sanshi Fund bought shares worth about ₹120 crore in Fusion CX.
The company is based in Kolkata and provides customer experience and AI data services to businesses.
The shares were bought from two existing shareholders in transactions completed on October 9.
They represent 3.19% of Fusion CX’s shares before the IPO.
Fusion CX plans to raise ₹702 crore in an IPO, with shares priced between ₹275 and ₹289.
The offering is scheduled to open on October 14 and close on October 16.
The company plans to use part of the money raised to repay loans and upgrade technology at two subsidiaries.
Investors acquired a 3.19% stake in Fusion CX through secondary-market share transfers worth about ₹120 crore ahead of the company’s planned IPO.
The transfers involved 41.52 lakh shares sold by promoter shareholders P N S Business Private Limited and Rasish Consultants Private Limited at ₹289 per share.
The investors included Kotak Mahindra Life Insurance, Ashish Kacholia and Mukul Agrawal-backed Sanshi Fund.
Fusion CX’s ₹702-crore IPO is scheduled to open on October 14 and close on October 16.
The IPO comprises a fresh issue of up to ₹500 crore and an offer for sale of up to ₹202 crore.
- Who
- Kotak Mahindra Life Insurance, Ashish Kacholia, Mukul Agrawal-backed Sanshi Fund and other investors acquired shares from promoter shareholders P N S Business Private Limited and Rasish Consultants Private Limited.
- What
- Investors bought 41.52 lakh shares, representing 3.19% of Fusion CX’s pre-offer equity, for about ₹120 crore.
- When
- The share transfers were completed on October 9. The IPO is scheduled to open on October 14.
- Where
- Fusion CX is headquartered in Kolkata, India.
- Why
- The share transfers took place ahead of Fusion CX’s planned IPO.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
Promoter shareholders completed transfers of 41.52 lakh Fusion CX shares to investors.
The anchor investor book is scheduled to open.
Fusion CX’s IPO is scheduled to open for subscription and then close.
Share allotments are expected to be finalised.
Fusion CX shares are scheduled to list on the BSE and NSE.
- Stake transferred
- 3.19% of pre-offer equity on a fully diluted basis
- Shares transferred
- 41.52 lakh
- Price per share
- ₹289
- Value of transactions
- About ₹120 crore
- IPO size
- ₹702 crore
- IPO price band
- ₹275–289 per share
Sources
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