Now Reading: Fusion CX IPO allotment: Check status, GMP, listing gains
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Fusion CX IPO allotment: Check status, GMP, listing gains
The Story in Brief
The Fusion CX IPO, which raised Rs 702 crore at a price band of Rs 275 to 289 per share between 14 and 16 October, received an overall subscription of 4.45 times. Retail investors bid 5.70 times their portion, non-institutional investors 4.50 times, and qualified institutional bidders 4.01 times. The issue attracted over 2.63 lakh applications and bids totalling more than Rs 1,800 crore.
Applicants can now check allotment status on the BSE and NSE websites or via registrar Kfin Technologies. The grey market premium (GMP) has fallen to Rs 12 to 15, implying listing gains of about 4 to 5 per cent, down from Rs 20 to 22 before the issue opened. Refunds are due by Wednesday, 21 October, and shares will list on the BSE and NSE on Thursday, 22 October. Nuvama Wealth Management, IIFL Capital Services and Motilal Oswal Financial Services managed the issue.
Indian Opinion Analysis
The grey market premium (GMP) has halved from its pre-issue level, indicating weaker demand after the subscription numbers were published. Investors who received allotments face a choice on listing day: book a modest 4 to 5 per cent gain or hold for a potential rise. The refund process by Wednesday, 21 October, and listing on the 22nd are the near-term deadlines for all bidders.
Source: businesstoday.in
This brief was synthesised by AI from the source linked above. Methodology and corrections.
