Private Equity

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Fractal Analytics Rs.2,834-Cr IPO oversubscribed 2.66x

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Mumbai-based artificial intelligence solutions provider Fractal Analytics ' initial public offering (IPO) closed with a total oversubscription of 2.66x. The company had previously raised INR 1,248.3 crore from anchor investors by allotting 1.39 crore shares at INR 900 a piece. Among the anchor investors, 11 domestic mutual funds, including SBI, Motilal Oswal, UTI, and Trust MF, were allotted approximately 52.8 Lakh shares, accounting for 38% of the anchor book.The IPO was structured to raise INR 2,833.9 crore, comprising a fresh issue of up to INR 1,023.5 crore and an offer for sale (OFS) of up to INR 1,810.4 crore. The price band for the offering was set between INR 857 and INR 900 per share, which positioned Fractal Analytics' valuation at approximately INR 15,480 crore (USD 1.75 Billion) at the upper end of the band.Qualified institutional buyers (QIBs) oversubscribed their reserved quota by 4.18x, placing bids for 4.06 crore shares against 97.1 Lakh reserved. Non-institutional investors (NIIs) subscribed their allocated shares by 1.06x, with bids for 51.27 Lakh shares against 48.55 Lakh reserved. Retail individual investors (RIIs) also saw an oversubscription of 1.03x bidding for 33.22 Lakh shares against 32.36 Lakh reserved. The portion reserved for employees remained undersubscribed at 61%, attracting bids for 4.8 Lakh shares against an offer of 7.7 Lakh shares.For H1 FY26, Fractal Analytics reported a profit of INR 70.9 crore, a decrease of nearly 3% from INR 72.9 crore in H1 FY25, while operating revenue increased by approximately 20% to INR 1,559 crore from INR 1,300.7 crore in the prior year period.

Between Jun 2013 and Jul 2025, Fractal had attracted about USD 855 M from Gaja Capital, Neo Asset Management, White Oak Capital Management,TPG Capital, Apax Partners, Khazanah Nasional, TA Associates and others.