Fusion CX gets Sebi's nod to raise Rs 1,000 crore via IPO
Fusion CX has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 1,000 crore through an initial public offering (IPO). The public offer comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an Offer for Sale (OFS) of equity shares aggregating up to Rs 400 crore.
The company plans to utilise the net proceeds from the fresh issue for several strategic purposes. The company has earmarked Rs 291.8 crore for the repayment or prepayment of outstanding borrowings by the firm and its subsidiaries. Additionally, Rs 74.7 crore will be invested in its step-down subsidiaries, Omind Technologies Inc and Omind Technologies, to upgrade their IT tools. The remaining funds will be directed towards pursuing inorganic growth through acquisitions and other strategic initiatives, as well as for general corporate purposes. The equity shares of the company are proposed to be listed on BSE and NSE.
Incorporated in 2004, Fusion CX specialises in delivering high-end, complex, and integrated customer experience services across multiple channels, including voice, email, chat, social media, and messaging.
