The IPO of Fractal Analytics, an AI solutions provider, was fully subscribed on its final bidding day, securing bids 1.46 times the shares on offer. The company will use proceeds to invest in its subsidiary, repay debt, and fund strategic initiatives, launching on the stock market on February 16.
Fractal Analytics IPO Achieves Full Subscription Amidst Strong Demand
Fractal Analytics, a leading AI solutions provider, concluded its initial public offering (IPO) with full subscription on Wednesday. The Rs 2,834 crore offering received bids for over 27 million shares, marking a 1.46 times subscription rate, according to data from the National Stock Exchange (NSE).
The breakdown showed a robust demand from Qualified Institutional Buyers (QIBs) with 2.27 times the quota subscription, whereas Retail Individual Investors (RIIs) subscribed to 79% of their portion, and non-institutional investors secured 47%. The company raised Rs 1,248.26 crore from anchor investors last Friday.
The IPO, which was resized from an initially proposed Rs 4,900 crore, includes a fresh issue worth Rs 1,023.5 crore and an Offer For Sale (OFS) of Rs 1,810.4 crore. Fractal plans to use the funds to foster growth initiatives, repay debt, and enhance operational and strategic goals, with the market debut set for February 16.
