BPO firm Fusion CX’s Rs.702-Cr IPO fully subscribed

The INR 702-crore issue of Georgia, US- and Kolkata-based Fusion CX was fully subscribed. The IPO comprises a fresh issue of shares worth INR 500 crore and an offer for sale (OFS) of 69.90 lakh shares worth INR 202 crore.The issue received bids for 1,79,74,389 shares against 1,40,40,000 shares on offer. Retail investors led the demand with a 4.23 times subscription, followed by non-institutional investors, whose portion was booked 1.78 times.Nuvama Wealth Management is the book-running lead manager for the issue.Fusion CX (formerly Fusion BPO Services) is a global Business Process Outsourcing (BPO) and Customer Experience (CX) partner that manages customer-facing and back-office operations for enterprise clients. Fusion CX plans to use part of the fresh proceeds to repay outstanding borrowings of the company and its subsidiaries, including select step-down subsidiaries.