Fractal Analytics Raises Rs 1,249 Crore from Anchor Investors Ahead of IPO
Fractal Analytics recently made headlines by securing significant anchor investment ahead of its initial public offering (IPO), reaffirming confidence in its artificial intelligence-driven analytics business model. Here are the key details:
Strong Anchor Support for Fractal Analytics IPO
– Capital Raised: Fractal Analytics successfully raised Rs 1,249 crore from anchor investors prior to its IPO.
– Share Allotment: The company allotted 1,38,69,499 equity shares to 52 anchor investors at the maximum price of Rs 900 per share.
IPO Details
– Subscription Dates: The IPO is set to open for public subscription on February 9 and will close on February 11.
– Price Range: The price band has been established between Rs 857 to Rs 900 per equity share, with a minimum bidding lot of 16 shares.
Investor Participation
– Domestic Mutual Funds: The anchor allocation included 52,77,680 equity shares (38.05%) for 11 domestic mutual funds through 22 schemes. Notable participants include:
– SBI Mutual Fund
– ICICI Prudential Mutual Fund
– Motilal Oswal Mutual Fund
– UTI Mutual Fund
– Insurance Companies: Prominent insurers in the anchor round included:
– Life Insurance Corporation of India (LIC)
– HDFC Life Insurance
– SBI Life Insurance
– Bharti AXA Life Insurance
Global Investor Interest
– International Participation: The IPO also attracted attention from leading global investors, such as:
– Morgan Stanley Investment Funds
– Goldman Sachs Bank Europe
– Ashoka WhiteOak Emerging Markets Funds
– Jupiter Global Fund
Fractal Analytics positions itself as India’s premier pure-play artificial intelligence company, offering AI-powered analytics and decision science solutions to Fortune 500 clients. This strategy empowers organizations to harness business value through advanced data science and industry-specific expertise.
IPO Structure
– Fresh Issue: The IPO comprises a fresh issue of equity shares totaling up to Rs 1,023 crore.
– Offer for Sale (OFS): The OFS is projected to be around Rs 1,810 crore, involving existing shareholders including Quinag Bidco Ltd, TPG Fett Holdings Pte., and others.
– Employee Reservation: A reserved portion of up to Rs 600 million is allocated for employees.
Book Running Lead Managers
The book running lead managers for this offer include:
– Kotak Mahindra Capital Company
– Morgan Stanley India Company
– Axis Capital
– Goldman Sachs (India) Securities
Conclusion
Fractal Analytics’ successful fundraising from anchor investors underscores the promising future of its artificial intelligence initiatives. With its IPO set to attract diverse participation, investors and industry observers alike are eagerly anticipating its public debut.