NEW DELHI, Feb 16: Shares of AI solutions provider Fractal Analytics made a tepid market debut on Monday, listing at a discount of nearly 3 per cent against the issue price of Rs 900.
The stock listed at Rs 876, a decline of 2.67 per cent from the issue price on the NSE. Later, it went lower by 4.94 per cent to Rs 855.55.
On the BSE, the shares made a flat debut, opening at Rs 900 per piece.
Following its listing, the company’s market valuation stood at Rs 14,839.73 crore on the NSE.
Meanwhile, the equity markets are trading in the positive territory, with the 30-share BSE Sensex rising by 185.88 points, or 0.22 per cent, to 82,812.64 in the morning trade. The NSE Nifty went up 57.50 points, or 0.23 per cent, to 25,528.60.
Last week, Fractal Analytics’ initial public offering (IPO) was 2.66 times on the final day of bidding.
The company had fixed the price band at Rs 857 to Rs 900 per share.
The Rs 2,834-crore IPO is a mix of fresh issue of equity shares worth up to Rs 1,023.5 crore and an offer for sale of Rs 1,810.4 crore. The firm had earlier scaled down its IPO size from Rs 4,900 crore it had initially proposed in its draft papers filed in August last year.
Proceeds from the fresh issue will be utilised 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.
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics is a pure-play data and artificial intelligence (AI) 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.
It 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.
As of March 31, 2025, the firm served global companies, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla. (PTI)
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