Fractal Analytics IPO: Artificial Intelligence firm Fractal Analytics Limited announced on Friday, 6 February, that it has raised ₹1,248.26 crore from anchor investors ahead of its initial public offering (IPO).
The company allotted 1,38,69,499 equity shares to 52 anchor investors, with an allocation price of ₹900 per equity share.
Of the total equity shares allocated to the anchor investors, 52,77,680 or around 38% were allocated to 11 domestic mutual funds across 22 schemes, the company said.
The anchor book saw strong participation from leading domestic institutional investors, including mutual funds such as SBI Mutual Fund, ICICI Prudential Mutual Fund, Motilal Oswal Mutual Fund, UTI Mutual Fund, Trust Mutual Fund, Bandhan Mutual Fund, Invesco Mutual Fund, Baroda BNP Paribas Mutual Fund, and Sundaram Mutual Fund, among others.
Among insurance companies, Life Insurance Corporation of India (LIC), HDFC Life Insurance Company Limited, SBI Life Insurance Company Limited, Bharti AXA Life Insurance Company Limited, and Edelweiss Life Insurance Company Limited participated.
Participation from global investors included Morgan Stanley Investment Funds, Ashoka WhiteOak Emerging Markets Funds, Jupiter Global Fund, Goldman Sachs Bank Europe, Societe Generale – ODI, Flumen Investment Trust, Optimix Wholesale Global Emerging Markets Share Trust, Neo Prime Fund, Neo Secondaries Fund, among others.
Fractal Analytics GMP
On Friday, 6 February, the grey market premium (GMP) of the Fractal IPO stood at ₹61 per share at 9:35 pm. With the upper price band at ₹900 per share, the company’s shares are expected to be listed at ₹961, representing a premium of 6.78%, according to data from Chittorgarh.
Fractal Analytics IPO details
The proposed IPO, valued at ₹2,834 crore, will comprise a fresh issue of shares worth ₹1,023.5 crore, alongside an Offer For Sale (OFS) component worth ₹1,810.4 crore.
The OFS is being undertaken by existing shareholders, including Quinag Bidco Ltd, TPG Fett Holdings Pte. Ltd, Satya Kumari Remala, Rao Venkateswara Remala, and GLM Family Trust.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, and Goldman Sachs (India) Securities Private Limited are the Book Running Lead Managers to the Offer.
How will Fractal Analytics use the funds?
The AI firm plans to use a portion of the IPO proceeds to support its subsidiary to settle outstanding debts, while another portion of the funds raised will be allocated to buying laptops, securing new office premises, and investing in research and development, sales and marketing, as well as in certain undisclosed acquisitions.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
