Fractal Analytics, a leading artificial intelligence and analytics firm, has secured ₹1,248.26 crore (approximately $150 million) from anchor investors ahead of its initial public offering (IPO), the company announced Friday, . The allotment of 1.387 crore equity shares was completed at the upper end of the price band of ₹900 per share.
The IPO, slated to open for public subscription on and close on , represents a significant milestone for the India-based company, positioning it as the first pure-play artificial intelligence company to go public in the country. The price band for the offering has been set at ₹857 to ₹900 per equity share, with a minimum bid lot of 16 shares.
The strong demand from anchor investors signals considerable confidence in Fractal Analytics’ growth prospects and its position within the rapidly expanding AI-driven analytics market. The company provides AI-powered analytics and decision science solutions to Fortune 500 companies, helping them leverage data science and artificial intelligence to improve business outcomes.
Domestic and Global Investor Interest
A substantial portion of the anchor allocation – 52,77,680 equity shares, representing 38.05% – was secured from 11 domestic mutual funds across 22 different schemes. Key domestic participants included SBI Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, UTI Mutual Fund, Trust Mutual Fund, Bandhan Mutual Fund, Invesco Mutual Fund, Baroda BNP Paribas Mutual Fund, and Sundaram Mutual Fund. This demonstrates robust support from India’s institutional investment community.
The anchor round also attracted significant interest from global investors, including prominent long-only and institutional names such as Morgan Stanley Investment Funds, Goldman Sachs Bank Europe, Ashoka WhiteOak Emerging Markets Funds, Jupiter Global Fund, Societe Generale – ODI, Flumen Investment Trust, Optimix Wholesale Global Emerging Markets Share Trust, Neo Prime Fund, and Neo Secondaries Fund. This international participation underscores the global appeal of Fractal Analytics’ business model and its potential for future growth.
IPO Details and Financial Structure
The IPO comprises a fresh issue of equity shares aggregating up to ₹1,023.5 crore, with an additional offer for sale (OFS) of up to ₹1,810.4 crore. The OFS will be undertaken by existing shareholders, including Quinag Bidco Ltd, TPG Fett Holdings Pte., Satya Kumari Remala, Rao Venkateswara Remala, and GLM Family Trust. An employee reservation portion of up to ₹600 million has also been included in the offering.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital, and Goldman Sachs (India) Securities are serving as the book running lead managers for the IPO. The finalization of share allotment is scheduled for , with Fractal shares expected to begin trading on Indian stock exchanges on .
Fractal Analytics: A Growing Force in AI
Fractal Analytics has established itself as a key player in the artificial intelligence space, providing a range of services including advanced data science, artificial intelligence solutions, and deep domain expertise. The company’s client base includes numerous Fortune 500 corporations, indicating its ability to deliver value to large, complex organizations.
The successful anchor round and the upcoming IPO are expected to provide Fractal Analytics with the capital necessary to further expand its operations, invest in research and development, and capitalize on the growing demand for AI-powered analytics solutions. The company’s focus on delivering tangible business value through data science and AI positions it well to benefit from the continued adoption of these technologies across various industries.
The strong interest from both domestic and international investors suggests a positive outlook for Fractal Analytics and its potential to become a leading global provider of AI-driven analytics. The IPO will be closely watched by market participants as a bellwether for the broader AI sector in India and beyond.
