Fractal Analytics shrinks IPO size to Rs 2,834 crore

Fractal Analytics has reduced the IPO size to Rs 2,833.9 crore, a 42% decline from Rs 4,900 crore it proposed earlier, with the company planning to list on February 16, according to the red herring prospectus the company filed on February 2.

The reduction in the IPO size has come at the back of prevailing market conditions, according to a source aware of the developments. Of this, Rs 1023.5 crore will be fresh issue of shares and offer for sale will be Rs 1810.4 crore, according to the RHP filed with the Securities and Exchanges Board of India (Sebi).

The bid opens on February 9 and closes on February 11. After consumer and fintech startups that are eyeing an IPO in 2025, India will see the listing of the first AI company with Fractal Analytics amid the technological shift the country is witnessing.