Fractal Analytics has filed preliminary papers with the markets regulator, Securities and Exchange Board of India (SEBI), seeking its approval to raise Rs 4,900 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 1,279.3 crore and an Offer for Sale (OFS) valued at Rs 3,620.7 crore.
The company plans to use the proceeds from the fresh issue to invest in its subsidiary, Fractal USA, for pre-payment or repayment of its borrowings; 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 for general corporate purposes. Kotak Mahindra Capital Company, Morgan Stanley India Company, Axis Capital and Goldman Sachs (India) Securities have been appointed by Fractal to manage its maiden public issue.
Founded in 2000, Fractal was cofounded by Srikanth Velamakanni and Pranay Agrawal. It supports large global enterprises across multiple industry verticals and business functions, providing data-driven insights and assisting in decision-making through end-to-end AI solutions.
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