Fractal Analytics IPO to open on Monday; price band, GMP, other key details to know before subscribing to Rs 2,800-crore issue

Srikanth Velamakanni , Co-Founder, Group Chief Executive & Vice-Chariman of Fractal.

Fractal Analytics’ initial public offering (IPO) will open for subscription on Monday, February 9, and close on February 11.

The artificial intelligence solutions provider has fixed a price band of Rs 857 to Rs 900 per share for its Rs 2,834-crore IPO, valuing the company at around Rs 15,500 crore.

Shares of Fractal Analytics are currently trading at a premium of up to 10 percent in the grey market. According to Investorgain, the grey market premium (GMP) stands at Rs 93 per share, indicating a potential listing gain of about 10.33 percent over the upper end of the price band. IPO Watch has pegged the premium at around 7 percent.

Earlier, the company’s shares were trading at a premium of up to 21 percent in the grey market when the price band was announced.

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

Fractal Analytics is scheduled to list on the stock exchanges on February 16.

Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics provides data-driven insights and end-to-end AI solutions to large global enterprises across multiple industry verticals and business functions.

The company is backed by investors such as TPG, Apax and Gaja. It operates as a pure-play data and artificial intelligence company with domain expertise across consumer packaged goods and retail, technology, media and telecom, healthcare and life sciences, and banking, financial services and insurance.

According to its industry report, the company is positioned among industry players with active investments in expanding its AI and generative AI software portfolio and research and development activities.

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