Fusion CX’s IPO bidding window has ended. NSE’s consolidated bid display, timestamped 16 October 2026 at 19:00 IST, shows bids for 6,24,64,392 shares against 1,40,40,000 offered or reserved, a displayed demand multiple of 4.45 times. Retail demand is shown at 5.70 times.
This is a post-close demand observation, distinct from CapKet’s earlier intraday updates. It does not identify successful applicants or establish a trading price. The red herring prospectus, or RHP, schedules the basis of allotment on or about October 19 and trading on or about October 22; neither event is confirmed completed by this check.
| Item | Verified information / limitation | Primary source |
|---|---|---|
| Issuer, venue and stage | Fusion CX Limited; proposed BSE/NSE listing; bidding window ended October 16 | NSE-hosted Fusion CX RHP ZIP (October 8) |
| Bidding period | 14–16 October 2026; not an open offer on October 17 | NSE issue terms and Consolidated Bid Details |
| NSE consolidated timestamp | 16 October 2026, 19:00 IST | NSE issue terms and Consolidated Bid Details |
| Total demand | 6,24,64,392 shares bid / 1,40,40,000 offered or reserved; displayed 4.45× | NSE issue terms and Consolidated Bid Details |
| QIB / NII / retail | Qualified institutional buyers 4.01×; non-institutional investors 4.50×; retail individual investors 5.70× | NSE issue terms and Consolidated Bid Details |
| Price band and face value | ₹275–₹289 per share; face value ₹1, not the offer price | NSE issue terms and Consolidated Bid Details |
| Gross structure | Up to ₹702 crore: up to ₹500 crore fresh issue + up to ₹202 crore OFS; not net company proceeds | NSE-hosted Fusion CX RHP ZIP (October 8) |
| Lot and retail minimum | 51 shares per lot / displayed minimum order; at the cap, 51 × ₹289 = ₹14,739; retail bids not above ₹2 lakh | NSE issue terms and Consolidated Bid Details |
| Other-category minimum | QIB and NII bids must exceed ₹2 lakh and follow lot multiples; a one-lot retail amount is not their minimum | NSE-hosted Fusion CX RHP ZIP (October 8) |
| Proposed use of fresh proceeds | ₹275.695 crore to repay/prepay company and specified subsidiary debt; ₹61.146 crore to upgrade IT tools Arya and MindVoice; unidentified acquisitions, strategic initiatives and general corporate purposes. Plans, not completed spending | NSE-hosted Fusion CX RHP ZIP (October 8) |
| Indicative next steps | Basis on/about October 19; unblocking and demat credit on/about October 21; trading on/about October 22. Completion not verified | NSE-hosted Fusion CX RHP ZIP (October 8) |
| Registrar | KFin Technologies Limited | NSE-hosted Fusion CX RHP ZIP (October 8) |
Use the same denominator as the exchange table
CapKet’s calculation is 6,24,64,392 ÷ 1,40,40,000 = approximately 4.449, which rounds to the displayed 4.45 times. These are the figures in NSE’s Consolidated Bid Details table, not its NSE-only bids. Do not divide a single-exchange bid count by a different combined share base or replace the displayed denominator with the entire gross offer.
NSE says the table includes UPI and non-UPI demand. UPI bids appear only with RC100 status: the investor accepted the mandate and the money was blocked. The exchange says the final UPI-demand display can update until 7 PM on the last day. That data-update time was not an extension of the 5 PM UPI-mandate deadline.
Demand is not allotment or company revenue
A share-based subscription multiple is not an applicant’s probability of receiving a lot. Valid applications, category rules and the eventual basis of allotment matter. This report has not verified an individual allotment, a completed listing, a grey-market price or a listing gain. The RHP warns that the offer price does not establish the price after listing.
Fresh shares bring capital to the issuer after applicable expenses; an offer for sale, or OFS, sells existing shareholders’ shares. The ₹702 crore gross structure therefore must not be described as money all received by Fusion CX. The RHP’s debt and IT allocations are proposed uses, not reported revenue or profit.
For the historical terms and intraday observations, read CapKet’s earlier Fusion CX offer report. That article’s original URL, date, image and byline remain unchanged.
Primary sources and observation
Checked on 17 October 2026. The demand data itself is timestamped October 16, 19:00 IST. RHP cover and printed pages 97, 496 and 501 were checked; the exact observation time is recorded below.
Recorded source observation: . This is a source-check timestamp, not a market quote or a new article update.