Fractal Analytics IPO to open on Feb 9; sets price band at Rs 857-900/share

New Delhi, Feb 4 (PTI) Artificial intelligence (AI) solutions provider Fractal Analytics on Wednesday fixed a price band of Rs 857 to Rs 900 per share for its upcoming initial public offering (IPO), valuing the company at nearly Rs 15,500 crore.

The company's Rs 2,834-crore maiden public offering will open for subscription on February 9 and conclude on February 11, while the bidding for anchor investors will take place on February 6, according to a public announcement.

Fractal has scaled down the size of its IPO from the Rs 4,900 crore it had initially proposed.

The revised offer comprises a fresh issue of equity shares worth up to Rs 1,023.5 crore and an Offer-for-Sale (OFS) of Rs 1,810.4 crore, taking the total issue size to Rs 2,833.9 crore.

In its draft papers filed in August, the company had planned to raise Rs 4,900 crore through the public issue.

Those selling shares in the OFS include Quinag Bidco Ltd, TPG Fett Holdings Pte Ltd, Satya Kumari Remala Rao, Venkateswara Remala and GLM Family Trust.

Fractal plans to use the proceeds from the fresh issue to invest in its subsidiary, Fractal USA, for pre-payment or repayment of its borrowings; buy laptops; set up new offices in India; invest in research and development; support sales and marketing under Fractal Alpha; fund acquisitions and other strategic initiatives; and for general corporate purposes.

The company will make its stock market debut on February 16.

According to the company, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.

Fractal, which was co-founded by Srikanth Velamakanni and Pranay Agrawal in 2000, supports large global enterprises across multiple industry verticals and business functions with data-driven insights and assists in decision-making through end-to-end AI solutions.

Backed by marquee investors like TPG, Apax, and Gaja, Fractal is a leading pure play data and artificial intelligence company and has domain expertise spanning across consumer packaged goods & retail; technology, media and telecom; healthcare and life sciences; and banking, financial services and insurance.

As per its industry report, it is uniquely placed among other industry players with active investments in expanding its AI and Gen AI software portfolio and R&D activities.

As of March 31, 2025, the firm served global companies which include Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital and Goldman Sachs (India) Securities have been appointed by Fractal to manage its maiden public issue. PTI SP DRR