Fusion CX
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 4.21×
- Big non-institutionalbNII · above ₹10 lakh
- 4.72×
- Small non-institutionalsNII · ₹2–10 lakh
- 4.75×
- Retail individualRII · up to ₹2 lakh
- 5.99×
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 72,87,197 | 3,06,88,026 | ₹887 Cr | 4.21× |
| Non-institutional | 36,43,598 | 1,72,34,736 | ₹498 Cr | 4.73× |
| Big non-institutionalwithin NII | 24,29,066 | 1,14,62,913 | ₹331 Cr | 4.72× |
| Small non-institutionalwithin NII | 12,14,533 | 57,71,823 | ₹167 Cr | 4.75× |
| Retail individual | 24,29,066 | 1,45,41,273 | ₹420 Cr | 5.99× |
| Total | 1,33,59,861 | 6,24,64,035 | ₹1,805 Cr | 4.68× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 16 Oct, 05:56 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 14 Oct 2026 – 16 Oct 2026
- Listing date
- 22 Oct 2026
- Face value
- ₹1 per share
- Price band
- ₹275 – ₹289
- Issue price
- ₹289 per share
- Lot size
- 51 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹702 Cr
- Fresh issue
- ₹500 Cr 1,73,01,038 shares
- Offer for sale
- ₹202 Cr 69,89,618 shares
- Market cap at offer price
- ₹4,172 Cr
- Promoter holding
- 93.02% → 78.94% pre-issue → post-issue
- ISIN
- INE0N2201019
- CIN
- U72900WB2004PLC097921
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Nuvama Wealth Management Ltd.
- Registered office
- Plot No. Y9, Block EP & GP, Sector-5, Bidhan Nagar, Salt Lake, Kolkata- 700091, West Bengal, India
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 76,58,183 | 54.55% | 54.55% |
| Anchor investor · within QIB | 1,09,30,795 | — | 77.85% |
| NII (HNI) | 38,29,090 | 27.27% | 27.27% |
| bNII > ₹10L · within NII | 25,52,727 | — | 18.18% |
| sNII < ₹10L · within NII | 12,76,363 | — | 9.09% |
| Retail (RII) | 25,52,727 | 18.18% | 18.18% |
| Employee | 0 | — | 0.00% |
| Total issue | 1,40,40,000 | — | 100.00% |
Net offer to the public of 1,40,40,000 shares, out of a total issue of 1,40,40,000. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 51 shares per lot, in multiples, at ₹289
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 51 | ₹14,739 |
| Retail (max) | 13 | 663 | ₹1,91,607 |
| S-HNI (min) | 14 | 714 | ₹2,06,346 |
| S-HNI (max) | 67 | 3,417 | ₹9,87,513 |
| B-HNI (min) | 68 | 3,468 | ₹10,02,252 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 13.37 | 15.43 |
| P/E (×) | 21.62 | 18.73 |
| Price to book (×) | 6.61 | — |
| Market cap | — | ₹4,172 Cr |
Key performance indicators
- Return on net worth
- 30.74%
- ROCE
- 27.00%
- Debt / equity
- 0.53
- PAT margin
- 9.34%
- EBITDA margin
- 19.48%
- NAV per share
- ₹43.73
- Price to book
- 6.61
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 1,851.83 | 1,352.03 | 1,021.53 |
| Revenue from operations | 1,818.14 | 1,329.3 | 991.32 |
| Other income | 33.69 | 22.73 | 30.21 |
| Total expenses | 1,662.53 | 1,274.29 | 984.84 |
| Operating profit | 189.3 | 77.74 | 36.69 |
| Operating margin | 10.22% | 5.75% | 3.59% |
| Profit before tax | 189.3 | 77.74 | 36.68 |
| Profit after tax | 169.84 | 74.31 | 36.26 |
| PAT margin | 9.17% | 5.50% | 3.55% |
| Balance sheet | |||
| Total assets | 1,385.15 | 1,143.25 | 768.02 |
| Current assets | 592.32 | 449.87 | 331.94 |
| Current liabilities | 644.99 | 627.23 | 334.01 |
| Total liabilities | 824.54 | 784.89 | 496.88 |
| Net worth | 560.6 | 358.36 | 271.14 |
| Current ratio | 0.92× | 0.72× | 0.99× |
| Return on equity | 30.30% | 20.74% | 13.37% |
| Cash flow | |||
| Operating cash flow | 264.22 | 102.45 | 39.26 |
| Investing cash flow | -83.1 | -63.63 | -61.89 |
| Financing cash flow | -138.04 | -26.73 | 11.05 |
| Net cash flow | 43.08 | 12.09 | -11.58 |
Objects of the issue
1 Repayment/Prepayment of Outstanding Borrowings ₹276 Cr
The company proposes to utilize a portion of the Net Proceeds towards repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the Company and certain Subsidiaries (Omind Technologies Private Limited, Fusion BPO Services Limited (Canada), Ameridial Inc., O'Currance Inc., and S4 Communications LLC), to reduce indebtedness and debt servicing costs on a consolidated basis.
2 Investment in Step-Down Subsidiaries for Upgrading IT Tools (Arya and MindVoice) ₹61.15 Cr
The company intends to invest in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, for upgrading generative AI-based CX technology tools — Arya (AI support coach and co-pilot) and MindVoice (AI-driven conversational voice bot and chatbot) — to enhance enterprise capabilities, expand use-cases, and drive revenue growth.
3 Pursuing Inorganic Growth through Unidentified Acquisitions and Other Strategic Initiatives —
The company proposes to deploy a portion of the Net Proceeds towards funding unidentified inorganic acquisitions and strategic initiatives, subject to not exceeding a specified percentage of Gross Proceeds, to expand capabilities, geographic presence, and vertical-specific service offerings.
4 General Corporate Purposes —
The company intends to utilize balance Net Proceeds towards general corporate purposes including strategic initiatives, refurbishment, marketing and promotion, strengthening of support functions, rental and administrative expenses, and meeting ongoing general corporate exigencies, subject to not exceeding a specified percentage of Gross Proceeds.
2 of 4 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Fusion CX
Fusion CX Limited provides customer experience and business process outsourcing services, using technology platforms that include AI and Gen AI solutions developed in-house and with third parties. The company was incorporated as Xplore-Tech Services Private Limited under the Companies Act, 1956, with a certificate of incorporation dated February 25, 2004, issued by the Registrar of Companies, West Bengal. It was renamed Fusion CX Private Limited in 2024 and then Fusion CX Limited on conversion to a public company in 2025. Acquisitions have been a key contributor to growth since incorporation. The company operates across India, North America, Latin America, Southeast Asia, and Europe and Africa. It generates revenue from the sale of services under client contracts. Contracts typically run from three to 60 months, with most under 24 months, and many can be terminated with short notice and without termination penalties. Revenue from operations was ₹18,182.38 million in Fiscal 2026, and 88.71% of it came from customers outside India.
Management
Pankaj Dhanuka
MD
Strengths
As stated in the offer document
Global Delivery Network Across 13 Countries with 40 Scalable Delivery Centres
The company operates 40 strategically located delivery centres across 13 countries, providing 24x7 multichannel support in 28 languages through a mix of onshore, nearshore, and offshore models, enabling cost optimization, cultural proximity, and scalability.
Continuous Focus on Strategic R&D Investments in AI-Driven CX Solutions
The company invests in proprietary AI platforms including MindVoice, Arya, and Mind WorkPlace through its subsidiary Omind, with R&D spend of ₹230.99 million (1.27% of revenue) in Fiscal 2026, driving CX transformation and operational efficiency.
Proven Track Record of Inorganic Growth and Integration
The company has successfully acquired and integrated multiple businesses including S4 Communications, STI, Skycom BPO, and Ready Call Center, expanding delivery footprint, vertical capabilities, and client relationships across key markets such as the US and Latin America.
Diversified Operations with Domain Expertise Across Multiple Industries and Long-Standing Customer Relationships
The company serves telecom, HTT, BFSI, retail, and healthcare verticals with an average relationship of 13.02 years with top 5 customers, and 208 total customers including 22 Fortune 1000 companies as of June 30, 2026.
Agile, Customer-Centric Approach Enabling Responsiveness and Tailored CX Solutions
The company adopts agile methodologies and end-to-end capabilities to deliver tailored CX solutions, supported by strategic acquisitions and a global presence that enables quick turnaround times and responsiveness to evolving client requirements.
Diverse Board, Experienced Promoters and Management Team with Domain Expertise
The company is led by co-founders Pankaj Dhanuka (22 years experience) and Kishore Saraogi (27 years experience), supported by a skilled management team including CFO Amit Soni (14+ years) and a workforce of 13,735 CX employees as of June 30, 2026.
Risk factors
As stated in the offer document
Customer Concentration Risk
The top 10 customers contributed 49.84%, 52.17%, 45.30%, and 41.04% of revenue from operations for the three-month period ended June 30, 2026, and Fiscals 2026, 2025, and 2024, respectively. Loss of any key customer due to contract termination, financial deterioration, or competitive switching could materially and adversely impact the company's business, financial condition, and cash flows.
International Revenue Concentration and Geopolitical Risk
The company derives 90.06%, 88.71%, 80.59%, and 76.22% of revenue from operations from customers outside India, with North America alone contributing 79.56%, 81.70%, 75.34%, and 69.53% for the respective periods. Geopolitical tensions, trade restrictions, currency fluctuations, and anti-outsourcing legislation in these regions could significantly disrupt operations and financial performance.
Cybersecurity and Data Privacy Risk
As a technology-enabled CX and BPO provider, the company processes, stores, and transmits sensitive data including health records, banking information, and personally identifiable information, exposing it to cybersecurity threats such as hacking, ransomware, and phishing. Non-compliance with data protection laws across multiple jurisdictions (including GDPR, HIPAA, DPDPA 2023) could result in regulatory penalties of up to €20 million or 4% of global annual turnover, reputational harm, and operational disruptions.
High Employee Expense and Attrition Risk
Employee expenses represented 67.53%, 65.62%, 65.83%, and 68.82% of revenue from operations for the three-month period ended June 30, 2026, and Fiscals 2026, 2025, and 2024, respectively, with CX employee attrition rates of 31.20%, 26.50%, 30.56%, and 32.15% over the same periods. Rising wages, competition for skilled talent, and inability to manage attrition could adversely affect margins, service quality, and financial performance.
Foreign Exchange Risk Without Hedging Arrangements
The company transacts a significant portion of its business in foreign currencies, primarily the U.S. Dollar, while reporting in Indian Rupees, and recorded net foreign exchange losses of ₹14.41 million and ₹25.45 million in Fiscals 2025 and 2024, respectively. The company currently has no hedging agreements in place, leaving it fully exposed to exchange rate volatility, which could materially impact profitability and margins.
Acquisition Integration and Inorganic Growth Risk
The company's growth strategy is heavily dependent on acquisitions, with future inorganic initiatives planned using IPO net proceeds for unidentified targets. Failure to identify suitable targets, integration difficulties, over-valuation, or inability to realize anticipated synergies could adversely affect growth, results of operations, and cash flows.
Goodwill and Intangible Asset Impairment Risk
Goodwill and other intangible assets represented 33.95% and 33.83% of total assets as of June 30, 2026, and March 31, 2026, respectively, with goodwill alone at ₹3,626.43 million as of June 30, 2026. Any future impairment to these assets could result in reported losses and materially adversely affect the company's reputation and financial condition.
Company Analysis
from RHPFusion CX Limited is a technology-enabled customer experience (CX) and business process outsourcing (BPO) provider serving the telecom and utilities, HTT, BFSI, retail and healthcare industries.
Fusion CX Limited provides customer experience and business process outsourcing services, using technology platforms that include AI and Gen AI solutions developed in-house and with third parties. The company was incorporated as Xplore-Tech Services Private Limited under the Companies Act, 1956, with a certificate of incorporation dated February 25, 2004, issued by the Registrar of Companies, West Bengal. It was renamed Fusion CX Private Limited in 2024 and then Fusion CX Limited on conversion to a public company in 2025. Acquisitions have been a key contributor to growth since incorporation. The company operates across India, North America, Latin America, Southeast Asia, and Europe and Africa. It generates revenue from the sale of services under client contracts. Contracts typically run from three to 60 months, with most under 24 months, and many can be terminated with short notice and without termination penalties. Revenue from operations was ₹18,182.38 million in Fiscal 2026, and 88.71% of it came from customers outside India.
Objects of the Issue
- Investment in step-down subsidiaries for upgrading technology solutions ₹611.46 million p.45
- Repayment/prepayment of certain outstanding borrowings of the Company and certain subsidiaries p.50
- Inorganic growth through unidentified acquisitions ₹[●] million p.42
- General corporate purposes p.50
- Repayment/prepayment, in full or in part, of certain outstanding borrowings availed by the Company and certain Subsidiaries ₹2,756.95 million p.104
- Investment in step-down subsidiaries Omind Technologies Inc. and Omind Technologies Private Limited for upgrading Arya and MindVoice ₹611.46 million p.118
- Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes ₹ [●] million p.118
- Investment in our step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, for upgrading IT tools i.e. Arya and MindVoice p.545
Issue Structure
- Total Issue
- up to ₹ 7,020.00 million
- Fresh Issue
- up to ₹ 5,000.00 million
- Offer for Sale
- up to ₹ 2,020.00 million
- Price Band
- to be decided by the company in consultation with the BRLMs; not stated in this part
- Face Value
- ₹ 1 per Equity Share
Business Model
Revenue is earned from the sale of CX and BPO services to clients under contracts. Revenue from operations is defined as income earned in the usual course of business through sale of services. Contracts typically run three to 60 months, with most under 24 months. The top 10 customers contributed 52.17% of revenue from operations in Fiscal 2026. The document does not state the pricing basis of these contracts.
Business Segments
SWOT Analysis
- • Long-tenured relationships with key clients(p.21)
- • ISO/IEC 27001 and ISO 9001 certifications(p.29)
- • Domain knowledge across key verticals(p.28)
- • Global delivery and customer footprint(p.23)
- • In-house AI-driven solutions(p.29)
- • Global delivery network across 13 countries with 40 scalable delivery centres(p.125)
- • In-house AI-driven CX solutions developed through R&D(p.125)
- • Track record of inorganic growth and integration(p.125)
- • Diversified domain expertise with long-standing customer relationships(p.125)
- • Gen AI CX products (Arya, MindVoice) offered via Omind entities(p.112)
- • Multilingual delivery across 28 languages(p.177)
- • Scale of 13,700+ CX employees across 40+ centers in 14 countries(p.177)
- • Vertical domain specialization(p.177)
- • In-house AI platforms via subsidiary Omind(p.177)
- • Track record of inorganic growth(p.177)
- • FY26 revenue growth of 36.8%(p.182)
- • FY26 EBITDA growth of 66.8%(p.182)
- • Attrition lower than most onshore-exposed peers(p.183)
- • Global delivery footprint supporting 24x7 multichannel service(p.196)
- • Track record of acquisitions integrated into expanded capabilities and revenue(p.199)
- • Balanced revenue across multiple verticals(p.199)
- • Long average tenure with top customers(p.200)
- • Ongoing in-house AI and automation R&D(p.197)
- • Promoters with long industry experience leading operations(p.200)
- • Growing base of high-value clients(p.201)
- • Strengthened US delivery presence through acquisition of material subsidiary Ameridial Inc. (2019)(p.244)
- • Nearshore delivery centre added in Medellin, Colombia (2021)(p.244)
- • Recognised as 'BPO Organization of the Year' at the 11th National Awards for Excellence (2024)(p.244)
- • Named a Major Contender in Americas and APAC CXM PEAK Matrix by Everest Group (2025)(p.245)
- • Received North American Customer Experience Management Customer Value Leadership recognition from Frost and Sullivan (2026)(p.245)
- • No payment defaults or loan rescheduling/restructuring on borrowings from banks or financial institutions(p.245)
- • No time or cost overruns in business operations(p.245)
- • Revenue from operations grew from ₹9,913.15 million in FY2024 to ₹18,181.38 million in FY2026(p.312)
- • Low attrition among KMP and senior management relative to industry(p.295)
- • KMP and senior management are all permanent employees of the Company and its material subsidiaries(p.295)
- • Track record of acquiring and integrating CX companies(p.427)
- • Long average customer relationships support revenue growth(p.427)
- • Growing base of high-value clients above USD 3.00 million(p.427)
- • High top-10 customer concentration (49.84% of Q1 FY27 revenue)(p.21)
- • Heavy dependence on North America revenue(p.23)
- • Significant indebtedness and covenant exposure(p.32)
- • Short contracts terminable on short notice(p.31)
- • High employee cost relative to revenue(p.30)
- • No hedging against foreign exchange exposure(p.26)
- • Pending legal proceedings involving the company, subsidiaries and directors(p.19)
- • Goodwill and intangibles form the largest asset base(p.25)
- • Revenue concentration in the US (84.1% in Q1 FY27)(p.184)
- • Attrition of 31.20% in Q1 FY27, above eClerx at 18.1%(p.184)
- • Lowest revenue per employee in Q1 FY27 among most peers(p.184)
- • Receivable days of 92 in FY25, the highest among compared providers(p.182)
- • Thin FY25 PAT margin of 5.59%(p.182)
- • Revenue decline of 10.29% in FY24(p.183)
- • Auditor's report on FY2026 consolidated accounts contains modifications on books of account and CARO qualifications or adverse remarks(p.309)
- • Promoters hold about 96.21% of the company, indicating high ownership concentration(p.297)
- • Borrowings of ₹1,488.88 million current and ₹892.44 million non-current as at 30 June 2026(p.311)
- • Provision for credit allowances on trade receivables rose sharply to ₹100.39 million in FY2026 from ₹8.86 million in FY2024(p.313)
- • Several changes in key managerial and senior management positions within three years(p.296)
- • Customer non-payment and receivable recovery claims against subsidiary Fusion BPO(p.471)
- • Promoter named as party to a counter FIR in a dispute over PG Entities(p.475)
- • Multiple negotiable instrument cases pending against a director(p.475)
- • Concentration of dues to a small set of material creditors(p.477)
- • Customer contract termination dispute with a claim of USD 5.00 million(p.473)
- • Data privacy registrations for a material subsidiary still pending with the regulator(p.480)
- • Acquisitions as a core growth strategy(p.26)
- • Pending non-binding LOI to acquire Impacx (via O'Currance Inc.)(p.26)
- • Pending non-binding LOI to acquire Offshore MVP Pty Ltd (via Fusion BPO Services Limited, England)(p.26)
- • Industry demand for digital-first customer experience (per Everest Report)(p.26)
- • Planned Rs 611.46 million technology upgrade investment from Net Proceeds(p.30)
- • Expand Human + Tech offerings and grow share via bundled CX solutions(p.118)
- • Ancillary revenue and deeper client stickiness from platform services(p.118)
- • Arya upgrades to handle higher interaction volumes with fewer resources(p.118)
- • Continued acquisitions funded from accruals, borrowings or Net Proceeds(p.119)
- • Target priority regions for multilingual, cost-effective delivery(p.121)
- • Outsourced CX share expected to rise(p.151)
- • Digital CX projected CAGR of 19.04% for 2025-27E(p.173)
- • Enterprises increasing AI budgets for CX(p.174)
- • Offshoring share of outsourced CX workforce(p.165)
- • 5G and 6G expansion in telecom(p.169)
- • Demand from emerging economies(p.154)
- • Demand for annotated AI training data(p.158)
- • Rising demand for multilingual, culturally nuanced CX support(p.189)
- • Proprietary gen AI tools built through Omind(p.189)
- • Expansion of CX outsourcing into adjacent services(p.190)
- • Mid-market segment adopting outsourced CX(p.190)
- • Acquisitions as a platform for continued expansion(p.190)
- • Projected growth in CX industry addressable market(p.201)
- • Acquisitions in fintech, healthcare, AI/automation and geographic expansion(p.427)
- • Scribe.ology to be positioned as challenger brand in scribing market(p.427)
- • Ready Call Center acquisition opens new revenue opportunities(p.427)
- • Sector permits up to 100% FDI under automatic route(p.522)
- • Anti-outsourcing sentiment in countries of operation(p.23)
- • Saturated, price-aggressive competitive market(p.27)
- • Client shift to onshore providers(p.28)
- • Downturn in telecom, utilities, HTT and other client sectors(p.28)
- • Evolving data protection compliance burden(p.29)
- • Gen AI lowering customers' need for outsourced services(p.32)
- • Rupee and USD exchange rate volatility(p.26)
- • Geopolitical and trade developments affecting costs and client finances(p.24)
- • Voice AI and gen AI automation reducing reliance on human agents(p.155)
- • Macroeconomic slowdowns reducing CX spend(p.155)
- • Geopolitical tensions limiting cross-border operations(p.155)
- • Inflation and currency volatility eroding margins(p.155)
- • Rising data privacy and cybersecurity compliance burden(p.155)
- • Climate-related disruption to delivery locations(p.155)
- • Scarcity of skilled CX and analytics talent(p.155)
- • Pay equity declaration order from a Canadian regulator against subsidiary Fusion BPO Canada(p.474)
- • Sales and use tax assessment from a US state tax authority against a subsidiary(p.474)
- • Employee State Insurance contempt proceedings against subsidiary STI India(p.472)
- • Income tax demand from the Income Tax Department against a merged entity(p.471)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Pankaj Dhanuka | Promoter (Individual Promoter) | — | — |
| Kishore Saraogi | Promoter (Individual Promoter) | — | — |
| P N S Business Private Limited | Promoter (Corporate Promoter) and Promoter Selling Shareholder | — | — |
| Rasish Consultants Private Limited | Promoter (Corporate Promoter) and Promoter Selling Shareholder | — | — |
| Pankaj Dhanuka | Promoter | — | — |
| Kishore Saraogi | Promoter | — | — |
| P N S Business Private Limited | Promoter Selling Shareholder | — | — |
| Rasish Consultants Private Limited | Promoter Selling Shareholder | — | — |
| P N S Business Private Limited | Promoter (also Promoter Selling Shareholder) | 49.44% | — |
| Rasish Consultants Private Limited | Promoter (also Promoter Selling Shareholder) | 46.77% | — |
| Pankaj Dhanuka | Promoter | 0.00% | — |
| Kishore Saraogi | Promoter | nil | — |
| Pankaj Dhanuka | Promoter | — | — |
| Kishore Saraogi | Promoter | — | — |
| Window Technologies Private Limited | Promoter Group | — | — |
| P N S Business Private Limited | Promoter | — | — |
| Pankaj Dhanuka | Promoter | — | — |
| Kishore Saraogi | Promoter | — | — |
| P N S Business Private Limited | Promoter | 50.60% | — |
| Rasish Consultants Private Limited | Promoter | 47.68% | — |
| P N S Business Private Limited | Promoter | 50.89% | — |
| Rasish Consultants Private Limited | Promoter | 48.14% | — |
| Pankaj Dhanuka | Promoter | — | — |
| P N S Business Private Limited | Promoter Selling Shareholder | — | — |
| Rasish Consultants Private Limited | Promoter Selling Shareholder | — | — |
| P N S Business Private Limited | Promoter Selling Shareholder | — | — |
| Rasish Consultants Private Limited | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Fusion CX THIS ISSUE | 13.47 | 43.73 | 18.73, computed at the offer price | 6.61, computed at the offer price | 30.74% |
| 9.77 | 61.80 | 22.27 | 16.49 | 15.00% | |
| 76.23 | 278.00 | 19.65 | 4.99 | 53.00% | |
AlliDigi Tech Limited | 53.96 | 235.00 | 14.12 | 3.43 | 29.00% |
| 43.12 | 568.00 | 31.41 | 2.34 | 7.58% | |
Sagility India Limited | 1.98 | 30.50 | 21.66 | 1.53 | 6.47% |
| 6.92 | 53.00 | 51.07 | 6.49 | 2.00% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.