Six Mutual Funds Take 77.84% of Fusion CX Anchor Allocation

Key Takeaways:

• Six domestic mutual funds received 85,08,703 Fusion CX shares, representing 77.84% of the company's anchor allocation. 
• The shares were distributed across 15 mutual fund schemes from Kotak Mahindra, ICICI Prudential, Motilal Oswal, Quant, ITI and JM Financial Mutual Fund. 
• Fusion CX raised about ₹315 crore from anchor investors at ₹289 per share ahead of its ₹702 crore IPO. 

Domestic mutual funds accounted for more than three-fourths of the anchor allocation in Fusion CX's initial public offering, highlighting strong fund-house participation in the institutional book ahead of the issue opening. 

Fusion CX allotted 1,09,30,795 equity shares to anchor investors at ₹289 each, raising about ₹315 crore. Of these, 85,08,703 shares — 77.84% of the total anchor allocation — went to six domestic mutual funds through 15 schemes. 

The participating fund houses were Kotak Mahindra Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, Quant Mutual Fund, ITI Mutual Fund and JM Financial Mutual Fund. 

Other anchor investors included Kotak Mahindra Life Insurance, Bengal Finance and Investment and overseas investors including Loomis Sayles Global Emerging Markets Equity Fund and Meru Investment Fund PCC-Cell 1. 

Fusion CX's IPO opened on October 14 and is scheduled to close on October 16. The IPO totals approximately ₹702 crore, comprising a ₹500 crore fresh issue and an offer-for-sale component of about ₹202 crore. 

The anchor allocation is relevant from a mutual-fund industry perspective because it identifies where domestic schemes committed capital before the public offer opened. It should not, however, be read as an assessment of the IPO's valuation or subsequent share-price performance. 

Mutual fund participation in anchor books can vary considerably from one issue to another and reflects individual schemes' mandates, portfolio decisions and allocation received from the issuer.