Stories
Kotak Life and Ace Investors Pour Rs 120 Crore into Fusion CX Ahead of IPO
- •Kotak Mahindra Life Insurance, Ashish Kacholia, and Mukul Agrawal-backed Sanshi Fund-I invested Rs 120 crore in Fusion CX through secondary share transactions.
- •The transaction involved transferring 41.52 lakh equity shares at Rs 289 apiece from promoters PNS Business and Rasish Consultants.
- •Fusion CX's Rs 702-crore IPO will open for subscription on October 14 and close on October 16, with a price band set at Rs 275-289 per share.
- •The IPO comprises a fresh issue of up to Rs 500 crore and an offer for sale of up to Rs 202 crore.
- •Proceeds from the fresh issue will be utilized to repay borrowings, invest in subsidiaries for IT upgrades, and pursue inorganic growth.
Key Questions Answered
The Fusion CX IPO will open for subscription on October 14 and close on October 16, with the anchor investor bidding scheduled for October 13. The price band has been fixed at Rs 275 to Rs 289 per equity share, aiming to raise Rs 702 crore at the upper end.
Kotak Mahindra Life Insurance Company, investor Ashish Kacholia, and Mukul Agrawal-backed Sanshi Fund-I invested a total of Rs 120 crore in Fusion CX through secondary share transactions. The transaction involved transferring 41.52 lakh equity shares at Rs 289 per share from promoters PNS Business Private Ltd and Rasish Consultants Private Ltd.
Fusion CX plans to use Rs 275 crore from the fresh issue proceeds to repay or prepay certain outstanding borrowings. Another Rs 61 crore will be invested in step-down subsidiaries Omind Technologies Inc and Omind Technologies Pvt Ltd to upgrade IT tools, with the remainder allocated for inorganic growth and general corporate purposes.
