The initial public offering (IPO) of Fusion CX Ltd, worth Rs 702 crore, will open for subscription on October 14. The customer experience solutions provider has fixed the price band at Rs 275–289 per share, with the issue set to close on October 16.
In the grey market, Fusion CX shares were commanding a premium of 10% over the upper end of the IPO price band on October 13, 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.
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.
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Fusion CX has set the price band at Rs 275–289 per share. Retail investors can apply for a minimum of 51 shares, translating into a minimum investment of Rs 14,739 at the upper end of the price band.