Fusion CX made a muted debut on the exchanges on October 22, 2026, with shares settling at Rs 305 on the NSE and Rs 292 on the BSE, up over 5% and 1% from its IPO issue price of Rs 289 apiece, NDTV Profit reported.
The IPO in numbers
Fusion CX's Rs 702 crore initial public offering comprised a fresh issue of 1.73 crore shares aggregating to Rs 500 crore and an offer for sale of 69.9 lakh shares worth Rs 202 crore. The issue was open for subscription from October 14 to October 16, 2026, with the basis of allotment finalised on October 19, 2026.
The issue saw demand build steadily: subscribed 0.43 times on day one, rising to 1.16 times on day two and closing at 4.68 times on the final day. The QIB portion closed at 4.21 times, NIIs at 4.73 times, and retail investors — the most enthusiastic segment — at 5.99 times. The price band was Rs 275–289, with retail investors bidding for a minimum of 51 shares, or Rs 14,739. Nuvama Wealth Management was the book-running lead manager and KFin Technologies the registrar.
A measured start
A single-digit listing premium after a 4.68x subscription suggests public investors are pricing in growth but not euphoria — a healthy tone for the current IPO season.
Why it matters for founders
Strong retail oversubscription no longer guarantees a listing pop. If you are IPO-bound, anchor your story in profitable unit economics rather than subscription-day optics — the market is rewarding discipline over hype.