Kolkata-based IT services company Fusion CX has submitted an addendum to its draft red herring prospectus (DRHP) stating that it expects to resolve nearly 90 per cent of its debt following its proposed initial public offering (IPO).In a recent interaction with businessline, Fusion CX said it is confident of addressing around 90 per cent of its ₹166.8 crore debt as of FY26 after the IPO. The company has received approval from capital market regulator SEBI last year for its proposed ₹1,000 crore public issue.“Our parent company was an Indian company. We saw the opportunity, the capital market is good out here. For the Indian market, our size of ₹2,000-2,500 crore was good,” said Pankaj Dhanuka, Co-Founder, CEO and Managing Director of Fusion CX, stressing interest for the IPO despite the market’s subdued sentiment towards small-cap stocks.Opportunity in data annotionBeyond its existing customer experience and IT business, Fusion CX plans to double down on its recently launched AI data infrastructure business. Dhanuka estimated that the business could garner around ₹160 crore in revenue this fiscal and exceed ₹600 crore in FY27. He expects the segment to contribute about 25 per cent of the company’s total revenue over the next 18-24 months.“The opportunity is there. The proof of concept has already been established. It will ultimately depend on how effectively we execute,” said Dhanuka.The company currently serves around 22 customers in this segment and has nine additional customers undergoing proof-of-concept (POC) projects that are expected to be completed within the next three months.Apart from this, Fusion CX is pursuing two acquisition deals that are likely to be concluded this year. These acquisitions are expected to strengthen the company’s customer base and expand its presence into two new countries.Published on July 23, 2026