Fusion CX Secures INR1.2 Billion From Kotak Life, Ashish Kacholia, Others Ahead of IPO

MT Newswires Live10-12

Fusion CX has secured 1.20 billion rupees from institutional and individual investors through secondary share transactions ahead of its initial public offering, according to a Sunday newspaper advertisement.

The transactions involved the transfer of 4.15 million equity shares at 289 rupees apiece, the upper end of the price band, by promoter selling shareholders P N S Business Private Limited and Rasish Consultants Private Limited.

Kotak Mahindra Life Insurance acquired 1.73 million shares for 500 million rupees, while investor Ashish Kacholia bought 865,052 shares for 250 million rupees. Mukul Agrawal-backed Sanshi Fund-I acquired 692,042 shares for 200 million rupees.

Other buyers included Bengal Finance and Investment Private Limited, which acquired 346,021 shares for 100 million rupees, and several individual investors, according to the company's updated prospectus.

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