IPO Action: Three public issues worth Rs 3,871 crore scheduled to open next week

Pure AI company Fractal Analytics, which is backed by global investors Apax Partners and TPG, is raising Rs 2,834 crore via maiden public issue

• Fractal Analytics, Aye Finance IPO to open for subscription on February 9
• Marushika Technology public issue to hit capital markets on February 12
• Four companies scheduled for market debut next week

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Investors will see three new public issues next week starting from February 9, including two from the mainboard segment. The fund size they are planning to raise through IPOs will be Rs 3,870.87 crore.

Both mainboard initial public offerings (IPO) -- Fractal Analytics, and Aye Finance -- will open for subscription on February 9 and close on February 11.

Pure AI company Fractal Analytics, which is backed by global investors Apax Partners and TPG, is raising Rs 2,834 crore via maiden public issue at the upper end of price band of Rs 857-900 per share.

The IPO is a combination of fresh issuance of shares worth Rs 1,023.5 crore, and an offer-for-sale of Rs 1,810.4 crore worth shares by TPG Fett Holdings, Apax Partners' Quinag Bidco, GLM Family Trust, and Satya Kumari Remala and Rao Venkateswara Remala.

Alphabet, and LGT Capital-backed NBFC Aye Finance has fixed price band for its Rs 1,010-crore initial share sale at Rs 122-129 per share. It aims to Rs 710 crore via fresh issue of shares, while the Alpha Wave India, MAJ Invest Financial Inclusion Fund, CapitalG, LGT Capital Invest Mauritius, and Vikram Jetley will be selling shares worth Rs 300 crore.

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Ahead of the IPO opening, Aye Finance already raised over Rs 454 crore, and Fractal Analytics Rs 1,248 crore via their anchor book on February 6.

The third IPO - Marushika Technology - will be from the SME segment. The IT and telecom infrastructure solutions provider intends to raise Rs 26.97 crore via public issue of 23.05 lakh shares. The offer will open on February 12 with price band of Rs 111-117 per share, and close on February 16.

Further, specialty chemicals maker Biopol Chemicals, and manpower solutions provider PAN HR Solutions will close their public issues on February 10. Both IPOs opened on February 6, subscribing 81 percent and 12 percent, respectively.

Meanwhile, all four companies scheduled for market debut next week are from the SME segment, with Brandman Retail, and Grover Jewells being the first amongst them listing on February 11. Their IPOs were subscribed nearly 107 times, and 18 times during February 4-6, respectively.

This follows Biopol Chemicals, and PAN HR Solutions which both will list on February 13.