Fractal Analytics Reduces IPO Size Ahead of Launch

Fractal Analytics, a leading player in the AI sector, has revised its Initial Public Offering (IPO) from an initial Rs 4,900 crore to Rs 2,834 crore. The company, known for its data-driven insights and AI solutions, is set to launch its maiden public issue next week.

The IPO, which opens for subscription on February 9 and concludes on February 11, comprises a fresh issue of equity shares worth up to Rs 1,023.5 crore and an Offer for Sale (OFS) valued at Rs 1,810.4 crore. Anchor investors will begin bidding on February 6.

The proceeds from the fresh issue are slated for expanding operations in India, research and development, debt repayment, and strategic acquisitions. Currently backed by prominent investors, Fractal Analytics supports major global enterprises like Microsoft and Apple with its AI solutions.