Fusion CX IPO GMP ₹34 Today (15 Oct), Price Band, Subscription Status, Allotment Date

Fusion CX IPO Review & Analysis

Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.

Fusion CX is a mainboard issue raising ₹702 Cr, offered in a band of ₹275–₹289 per share. At the upper end that is 289 times the ₹1 face value, so ₹288 of every share subscribed is share premium rather than capital.

A retail application for Fusion CX needs one lot of 51 shares, which works out to ₹14,739 at the upper band of ₹289. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 68 lots.

For Fusion CX, bidding runs 14-16 October, allotment is finalised on 19 Oct 2026, the shares list on 22 Oct 2026. Applications that do not receive an allotment have their UPI mandate released around 3 days after the issue closes. Counting from the close of bidding, money stays blocked for roughly 6 days before listing decides what the holding is worth.

The issue is reserved 75% to qualified institutional buyers, 15% to non-institutional investors, 10% to retail. At 10%, the retail portion is on the narrower side, so retail allotment turns into a lottery quickly once the book fills. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.

The issue splits into ₹500 Cr of fresh capital (71.2%) and ₹202 Cr as an offer for sale. The company keeps the fresh portion for the objects of the issue, while the rest is existing shareholders monetising their stake.

The most recent figures the company has filed cover 30 Jun 2026, which is a different length of period from 31 Mar 2026. Year-on-year growth is not stated here because the two periods are not comparable — read the reported numbers side by side rather than as a growth rate.

With the retail portion subscribed 2.68 times, roughly one in 3 single-lot applications can expect an allotment once the draw is made. Applying for more lots does not improve those odds in an oversubscribed retail book — every application is cut back to one lot before the lottery — so the practical lever is the number of distinct PANs applying, not the size of any one bid.

Kfin Technologies Ltd. is the registrar for this issue, which means the allotment status for Fusion CX is published on their portal from 19 Oct 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.

A grey market premium of ₹34 on the upper band of ₹289 implies a listing gain of roughly 11.8%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.

The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.