Fractal Analytics IPO sees muted response, booked 23% on final day of subscription so far - GMP dips

Fractal Analytics IPO drew a muted response from the investors for the third consecutive day on Wednesday, receiving 23 percent subscription, so far. The subscription to the initial public offering of AI solutions provider will conclude today at 5 pm in the primary market. The Rs 2,834-crore IPO received bids for 43.47 lakh shares against 1.85 crore shares on offer, according to NSE data, till 11:15 am. The category for retail individual investors (RIIs) fetched 70 percent subscription, while the quota for non-institutional investors subscribed 34 percent. The portion for qualified institutional buyers (QIBs) received a 2 percent subscription. Earlier on Friday, the company garnered Rs 1,248.26 crore from anchor investors. The price band has been fixed at Rs 857 to Rs 900 per share, valuing the company at nearly Rs 15,500 crore. Check All IPO News Fractal Analytics IPO GMP Today Price According to platforms tracking the grey market activities, the shares of Fractal Analytics are commanding a flat GMP, indicating a muted listing for the shares of the company. The proceeds from fresh issue will be used by Fractal to invest in its subsidiary, Fractal USA, for repayment of debt, buy laptops, set up new offices in India, invest in research and development, support sales and marketing under Fractal Alpha, fund acquisitions and other strategic initiatives, and general corporate purposes. Fractal, which was co-founded by Srikanth Velamakanni and Pranay Agrawal in 2000, supports large global enterprises across multiple industry verticals and business functions with data-driven insights and assists in decision-making through end-to-end AI solutions. Fractal is a leading pure-play data and artificial intelligence company and has domain expertise spanning across consumer packaged goods & retail, technology, media and telecom, healthcare and life sciences, and banking, financial services and insurance.