Fusion CX, a global customer experience solutions provider, is targeting an October launch for its initial public offering, with the company aiming to raise ₹1,000 crore ($120 million).
The proposed public offering is contingent on favorable market conditions, according to Pankaj Dhanuka, the company’s managing director and CEO.
The company has previously filed an addendum to its draft red herring prospectus (DRHP) outlining plans to use the majority of the IPO proceeds to eliminate nearly 90% of its outstanding debt.
The capital raise is a critical component of Fusion CX’s financial restructuring strategy.
The company has previously filed an addendum to its draft red herring prospectus (DRHP) outlining plans to use the majority of the IPO proceeds to eliminate nearly 90% of its outstanding debt.
This deleveraging move is designed to strengthen the balance sheet ahead of the public listing.
Beyond balance sheet cleanup, Fusion CX is positioning itself for growth in the artificial intelligence sector.