From The Economic Times · Debaroti Adhikary · · 2m
Ashish Kacholia and Mukul Agrawal invest Rs 120 crore in Fusion CX IPO
Prominent investors Ashish Kacholia and Mukul Agrawal acquire stakes in AI data firm ahead of IPO.
In brief
Prominent investors Ashish Kacholia and Mukul Agrawal acquire stakes in AI data firm ahead of IPO. Ashish Kacholia and Mukul Agrawal invested Rs 120 crore in AI data infrastructure services provider Fusion CX ahead of its IPO. Originally reported by The Economic Times.
Investors acquire stakes in Fusion CX
Prominent investors Ashish Kacholia and Mukul Agrawal, along with Kotak Mahindra Life Insurance and others, acquired stakes cumulatively worth Rs 120 crore in Kolkata-headquartered AI data infrastructure services provider Fusion CX ahead of its IPO…
Promoter selling shareholders complete share transfers
Promoter selling shareholders PNS Business and Rasish Consultants completed secondary share transfers of more than 41.52 lakh equity shares at Rs 289 apiece earlier this month, totalling Rs 120 crore for a 3.
Kotak Mahindra Life Insurance acquires shares
Kotak Mahindra Life Insurance acquired 17.30 lakh shares worth Rs 50 crore, while Ashish Kacholia purchased 12.
Mukul Agrawal-backed Sanshi Fund acquires shares
Mukul Agrawal-backed Sanshi Fund picked up 8.65 lakh shares worth Rs 25 crore.
Fusion CX IPO price band and timeline
Fusion CX is set to launch its Rs 702 crore initial public offering (IPO) this week at a price band of Rs 275, 289 per share, opening on October 14 and closing on October 16.
Fusion CX IPO share allotment timeline
The share allotments for the Fusion CX IPO are expected to be finalised on October 19, and the company's shares are scheduled to list on the BSE and NSE on October 22.
Fusion CX IPO fund allocation
Fusion CX plans to utilise Rs 275 crore from the IPO proceeds to repay or prepay, in full or in part, certain outstanding borrowings of the company and its subsidiaries, including select step-down subsidiaries.
Fusion CX IPO additional investments
Additionally, Rs 61 crore will be invested in its step-down subsidiaries, Omind Technologies Inc. and Omind Technologies Private Limited, to upgrade IT tools, including Arya and MindVoice.
The short version
Ashish Kacholia and Mukul Agrawal invested Rs 120 crore in AI data infrastructure services provider Fusion CX ahead of its IPO.
