Fusion CX, the AI-powered customer experience provider headquartered in Kolkata, is likely to launch its initial public offering as early as next week, according to reports dated 6 October 2026. The company has reportedly trimmed the issue size to ₹700–800 crore, down from the ₹1,000 crore proposed in the draft red herring prospectus it filed in May 2025.

The Securities and Exchange Board of India had approved the offer back in December 2025, so the company has been sitting on a cleared DRHP for the better part of a year. The issue will combine a fresh issue of shares with an offer for sale, with proceeds earmarked for debt repayment, IT infrastructure upgrades at subsidiaries Omind Technologies Inc and Omind Technologies Pvt Ltd, and inorganic growth.

The trim in issue size is telling. Fusion CX has been on an aggressive acquisition run — it recently acquired Australia's VA Platinum, its 16th acquisition — and a leaner IPO suggests the company is balancing its growth appetite against market conditions and investor feedback.

The business itself has scale. Founded in 2004, Fusion CX operates 40 delivery centres across 13 countries, employs more than 13,700 people, and services clients in 28 languages — a genuinely global footprint for an Indian CX player. The numbers back it up: FY26 net profit more than doubled to ₹170 crore (from ₹74.4 crore), while revenue grew 37% to ₹1,818 crore.

The book-running lead managers are Nuvama, IIFL Capital and Motilal Oswal, a heavyweight syndicate that signals the issue is being positioned for serious institutional demand. For a services business, the doubling of net profit will be the line institutional investors scrutinise most.

One caveat for founders watching the listing: this is a reported plan, not a confirmed date. Market windows move, and IPO calendars are famously fluid — so treat the "next week" framing as intent until the RHP lands. But with SEBI clearance in hand since December 2025 and a strong FY26 print, the company looks well positioned for its public debut.

Why it matters for founders

Fusion CX shows the classic pre-IPO playbook done patiently: build scale across 13 countries, let profitability double, secure SEBI clearance, then time the window — even trimming the issue size to match market appetite. The lesson is that a smaller, well-subscribed IPO beats an ambitious one that struggles to clear.