Fractal Analytics IPO subscribed 2.66 times on Day 3, backed by strong QIB demand

Fractal Analytics IPO Subscription.

• Fractal Analytics IPO subscribed 2.66 times.
• QIBs subscribed 4.18 times, retail investors 1.03 times.
• IPO price band set at Rs 857-900 per share, valuing Fractal at Rs 15,500 crore,

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Fractal Analytics IPO got fully subscribed on the final day of subscription on Wednesday, receiving 2.66 times subscription.

The Rs 2,834-crore IPO received bids for 4.94 crore shares against 1.85 crore shares on offer, according to NSE data.

The category for retail individual investors (RIIs) fetched 1.03 times subscription, while the quota for non-institutional investors subscribed 1.06 times. The portion for qualified institutional buyers (QIBs) received a 4.18 times subscription.

Earlier on Friday, the company garnered Rs 1,248.26 crore from anchor investors. The price band has been fixed at Rs 857 to Rs 900 per share, valuing the company at nearly Rs 15,500 crore.

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Fractal Analytics IPO GMP Today Price 

According to platforms tracking the grey market activities, the shares of Fractal Analytics are commanding a flat GMP, indicating a muted listing for the shares of the company.

The proceeds from fresh issue will be used by Fractal to invest in its subsidiary, Fractal USA, for repayment of debt, 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 general corporate purposes.

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.

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.

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