New Delhi: Shares of Fusion CX Ltd, an AI-powered customer experience solutions provider, made a positive stock market debut on Thursday, October 22, listing at a premium of 5.54 per cent on the National Stock Exchange (NSE).
The Kolkata-based company's shares opened at Rs 305 on the NSE against the IPO issue price of Rs 289, despite weakness in broader equity markets.
Fusion CX Share Price On NSE And BSE
On the Bombay Stock Exchange (BSE), Fusion CX shares debuted at Rs 292, representing a modest premium of 1.04 per cent over the issue price.
Following the listing, the company's market capitalisation stood at Rs 4,310.60 crore on the NSE and Rs 4,340.19 crore on the BSE.
Meanwhile, the Sensex declined 139.42 points to 73,570.27, while the Nifty 50 slipped 61.75 points to 22,749.60.
Fusion CX IPO Subscription Details
The Rs 702 crore initial public offering received 4.45 times subscription by the final day of bidding.
The company had fixed its IPO price band between Rs 275 and Rs 289 per equity share.
The public issue comprised a fresh share offering worth Rs 500 crore and an offer for sale (OFS) aggregating Rs 202 crore by existing shareholders.
How Will Fusion CX Use IPO Proceeds?
Fusion CX plans to utilise Rs 275 crore from the fresh issue proceeds towards repayment of outstanding borrowings.
Another Rs 61 crore will be invested in its step-down subsidiaries, Omind Technologies Inc and Omind Technologies, for upgrading information technology infrastructure.
The remaining funds will support acquisitions, strategic initiatives and general corporate requirements.
About Fusion CX
Fusion CX provides AI-driven customer experience and business solutions across telecommunications, healthcare, technology, travel, banking, financial services, insurance and retail sectors.
The company's listing adds another technology-focused business to India's equity markets.
