Fusion CX’s ₹702 crore initial public offering (IPO) opened for subscription on Wednesday, 14 October, and stays open until Friday, 16 October. The shares are priced in a band of ₹275 to ₹289 each, and the minimum investment for a retail bidder is ₹14,739.
What happened
The IPO is the company’s first sale of shares to the public. Ahead of the opening, Fusion CX raised ₹315 crore from anchor investors, which are large institutions that are allotted shares before the issue opens to everyone else. Ashish Kacholia and Kotak Mahindra Life Insurance were among them.
The issue is also trading at a grey market premium (GMP) of around 12%. GMP is the unofficial extra amount at which IPO shares change hands in an unregulated market before listing.
What it means for you
If you want to apply, you have three days, and you need to bid at least the minimum retail amount of ₹14,739. The source does not give the lot size, the split between investor categories or the listing date, so check the offer documents for those details.
Treat the GMP with care. It reflects informal market sentiment, is not an official figure, and does not guarantee where the shares will list or trade afterwards. This article does not recommend bidding or skipping the issue.
Background
An IPO lets a company raise money by selling shares to the public for the first time. Anchor investor participation is often watched as a sign of institutional interest, though it says nothing certain about later price moves.
