The initial public offering (IPO) of Fusion CX saw a pick-up in investor interest on the second day of bidding, with the issue receiving 60 percent subscription as of 10:55 am on October 15, as per the NSE data.
The Rs 702-crore issue received bids for 85,78,302 shares against 1,40,40,000 shares on offer. Retail investors led the demand with a 2.23 times subscription, followed by non-institutional investors, whose portion was booked 75 percent.
In the grey market, Fusion CX shares were commanding a premium of 11 percent over the upper end of the IPO price band on October 15, according to market tracking platform InvestorGain. The grey market premium (GMP) indicates unofficial market sentiment ahead of listing but does not guarantee the listing price or investor returns.
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The IPO comprises a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) of 69.90 lakh shares worth Rs 202 crore. While the company will receive the proceeds from the fresh issue, the OFS will allow existing shareholders to sell part of their holdings.