Upcoming IPOs: Fractal Analytics, Aye Finance, Marushika Technology issues to open, 4 listings scheduled next week; check list

Upcoming IPOs: The week starting February 9 will see at least three initial public offerings (IPOs) open for subscription. They include mainboard IPOs of Fractal Analytics and Aye Finance.

The ₹26.97 crore SME IPO of IT and telecom infrastructure products distributor Marushika Technology will hit the primary market on February 12 and conclude on February 16. The issue, with a price band of ₹111 to ₹117 per share, is solely a fresh issuance of 23.05 lakh equity shares.

The money generated will be utilised for debt repayment, working capital needs and general corporate purposes.

Fractal Analytics IPO

The ₹2,833.90 crore book build issue, which is open from February 9 to February 11, consists of new shares valued at ₹1,023.50 crore and an offer for sale (OFS) component of ₹1,810.40 crore by Quinag Bidco, GLM Family Trust, TPG Fett Holdings, Satya Kumari Remala and Rao Venkateswara Remala.

Fractal intends to use the fresh issue proceeds to invest in its unit, Fractal USA, to repay debt, buy laptops, set up new domestic offices, invest in research and development (R&D), support Fractal Alpha's sales and marketing, fund acquisitions and other strategic initiatives and general corporate purposes.

The company has set a price range of ₹857 to ₹900 per share, and a lot includes 16 shares.

Fractal Analytics supports large global enterprises with data-driven insights and helps in decision-making through end-to-end AI solutions.

Aye Finance IPO

Aye Finance's ₹1,010 crore initial public offering will open for subscription on February 9. The issue will conclude on February 11. It has fixed a price band of ₹122 to ₹129 per share. A lot consists of 116 shares.

It is a mix of fresh issue of shares worth up to ₹710 crore and an OFS of up to ₹300 crore by Alpha Wave India I LP, CapitalG LP, MAJ Invest Financial Inclusion Fund II K/S, LGT Capital Invest Mauritius PCC with Cell E/VP and Vikram Jetley.

The money generated will be used to augment its capital base and support future capital needs arising from the expansion of its business and asset base.

Classified as a middle-layer NBFC, Aye Finance Ltd focuses on lending to micro and small enterprises (MSEs), a section that remains largely underserved by traditional banks.

IPO listings next week