Fractal Analytics reduces IPO size by over 40% to ₹2,834 crore

Fractal Analytics Reduces Initial Public Offering (IPO) Size by 42%

Fractal Analytics, a leading enterprise AI solutions company, has reduced its Initial Public Offering (IPO) size by 42% to ₹2,833.9 crore, as revealed in the prospectus filed with the Securities and Exchange Board of India (SEBI) on February 2.

• Fresh issue size: ₹1,023.5 crore
• Offer for sale: ₹1,810.4 crore
• Quinag Bidco Ltd managed by Apax Partners: ₹880.9 crore
• TPG Fett Holdings: ₹450 crore
• GLM Family Trust: ₹450 crore

The IPO offer is set to open on February 9 and close on February 11, with anchor bidding opening on February 6.

According to Kranthi Bathini, Director, Equity Strategy, WealthMills Securities, the reduced IPO size may indicate good market conditions, as companies typically decrease equity dilution when market momentum is strong.

Bathini also noted the current craze for AI in the ecosystem, which may have contributed to the reduced IPO size.

Fractal Analytics had initially filed for an IPO size of ₹4,900 crore.

Fractal's IPO in November generated significant buzz as one of the largest public issues in India's AI solutions space.

The company has been selected by the Indian government to build India's first large reasoning model under the India AI Mission.