Fractal Analytics began trading at a nearly 3% discount on its market debut, with shares opening at Rs 876 against the Rs 900 issue price. The IPO, initially sized at Rs 4,900 crore and later reduced to Rs 2,834 crore, was 2.66 times subscribed. Proceeds will fund various strategic initiatives.

Fractal Analytics' Underwhelming Market Debut Amidst IPO Aspirations

Shares of AI solutions provider Fractal Analytics made a lackluster debut in the market, opening 2.67% below the issue price of Rs 900 at Rs 876.

The firm's stock later fell to Rs 855.55, reflecting a 4.94% drop on the NSE.

The 30-share BSE Sensex saw a modest increase, gaining 185.88 points to reach 82,812.64.
The NSE Nifty climbed 57.50 points to 25,528.60.

Despite the underwhelming start, the company's initial public offering (IPO) was subscribed 2.66 times by the final day of bidding.

Offer Size: The Rs 2,834-crore IPO was a mix of fresh equity and an offer for sale.
Initial Proposal: The IPO was initially proposed to raise Rs 4,900 crore, but it was downsized.
Use of Funds: The funds raised will support Fractal USA, debt repayment, office expansion, and various strategic ventures.

Fractal Analytics aims to provide comprehensive AI solutions to major global enterprises.