New Delhi, February 11 The initial share sale of AI solutions provider Fractal Analytics was fully subscribed on Wednesday, the final day of bidding.
The ₹2,834 crore Initial Public Offering (IPO) received bids for 2,71,67,552 shares against 1,85,79,360 shares on offer, translating to 1.46 times subscription, according to NSE data.
Qualified Institutional Buyers (QIBs) accounted for 2.27 times subscription, while the portion for Retail Individual Investors (RIIs) subscribed to 79 percent. The non-institutional investors portion received 47 percent subscription.
Fractal Analytics raised ₹1,248.26 crore from anchor investors on Friday.
The price band has been set at ₹857 to ₹900 per share, valuing the company at nearly ₹15,500 crore.
Fractal has scaled down the size of its IPO from the ₹4,900 crore it had initially proposed.
The revised offer comprises a fresh issue of equity shares worth up to ₹1,023.5 crore and an Offer For Sale (OFS) of ₹1,810.4 crore, bringing the total issue size to ₹2,833.9 crore.
In its draft papers filed in August, the company had planned to raise ₹4,900 crore through the public issue.
The proceeds from the fresh issue will be used by Fractal to invest in its subsidiary, Fractal USA, for debt repayment, purchase 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.
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.
As of March 31, 2025, the firm serves global companies, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla.
