Fractal Analytics IPO: A Muted Debut for AI Innovator
Fractal Analytics' IPO received a muted 9% subscription on its first day. The IPO, valued at Rs 2,834 crore, concludes February 11, following a reduced size from an initial Rs 4,900 crore proposal. Fractal aims to invest proceeds in expansion and development, and plans a stock market debut on February 16.
- Country:
- India
Fractal Analytics, the artificial intelligence solutions provider, experienced a subdued start for its initial public offering (IPO), attracting only 9% subscription on its first day of bidding.
The three-day IPO is set to close on February 11, with retail investors subscribing to 35% and non-institutional investors at 7% on opening day, according to NSE data.
Originally intending to raise Rs 4,900 crore, Fractal scaled down the issue to Rs 2,834 crore, and will use proceeds for investments in its subsidiaries, acquisitions, and expansion efforts. The company, serving tech giants like Microsoft and Amazon, will debut on the stock market February 16.
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