Fractal Analytics' IPO received only 20% subscription by its second day, falling short of expectations. The Rs 2,834-crore offering, which closes on February 11, hopes to attract broader interest despite its reduced size. The funds raised are earmarked for investments, debt repayment, and strategic initiatives.

Fractal Analytics IPO: A Lukewarm Investor Reception

Fractal Analytics IPO Receives Lukewarm Response

The initial public offering (IPO) of Fractal Analytics, an artificial intelligence solutions provider, has seen a lukewarm response in terms of subscription, attracting only 20% by its second day.

Subscription Breakdown:

Retail individual investors: 60% subscription
Non-institutional investor participation: 27%
Qualified institutional buyers: 2% subscription

According to NSE data, the IPO has received bids for 36,40,320 shares out of the 1,85,79,360 shares on offer. The Rs 2,834-crore public issue aims to conclude by February 11.

The revised offering comes after scaling down from an initial Rs 4,900 crore proposal. Proceeds will fund various investments including in Fractal's subsidiary, Fractal USA, debt repayment, R&D, and other corporate purposes.

Fractal's anticipated market debut is scheduled for February 16.