Kotak Mahindra Life Insurance Company, investor Ashish Kacholia and Mukul Agrawal-backed Sanshi Fund-I, among others, have invested Rs 120 crore in IPO-bound Fusion CX through secondary share transactions ahead of the company's initial public offering.
The transaction involved the transfer of 41.52 lakh equity shares at Rs 289 apiece, the upper end of the initial public offering (IPO) price band, by promoters PNS Business Private Ltd and Rasish Consultants Private Ltd.
According to a public announcement on Sunday, the share transfers were completed on October 9 and accounted for 3.19 percent of Fusion CX's pre-offer equity share capital on a fully diluted basis.
Kotak Mahindra Life Insurance acquired 17.30 lakh shares worth Rs 50 crore, and Kacholia purchased 12.11 lakh shares worth Rs 35 crore, in his personal capacity and through his firm Bengal Finance and Investment.
Sanshi Fund-I, backed by investor Mukul Agrawal, acquired 8.65 lakh shares worth Rs 25 crore.