Fractal Analytics share price rises 1% on Day 2 of listing

The stock was trading 1% higher at ₹856 apiece on the National Stock Exchange (NSE) at 9:29 am. Its market capitalisation stands at ₹14,720.21 crore.

On Monday, the scrip debuted at ₹876, a decline of 2.67% from the issue price of ₹900 on the NSE. It settled at ₹837.70, down 6.92% (from the issue price).

Fractal Analytics' initial public offering (IPO) was subscribed 2.66 times. It got bids for 4,94,79,888 shares against 1,85,79,360 shares on offer. The company had set the price band at ₹857 to ₹900 per share.

The company aimed to raise ₹2,833.90 crore by offering new shares aggregating to ₹1,023.50 crore and an offer for sale (OFS) alued at ₹1,810.40 crore by Venkateswara Remala, GLM Family Trust, Quinag Bidco, Satya Kumari Remala Rao and TPG Fett Holdings Pte Ltd.

The IPO proceeds will be used to invest in its subsidiary, Fractal USA, for loan repayment, purchase of laptops, establish domestic offices, invest in research and development, fund acquisitions and other strategic initiatives, support sales and marketing under Fractal Alpha and general corporate purposes.

Founded in 2000 by Pranay Agrawal and Srikanth Velamakanni, Fractal Analytics Limited is a pure-play data and artificial intelligence (AI) company, offering services to sectors such as consumer packaged goods & retail, healthcare and life sciences, technology, media and telecom, and banking, financial services and insurance (BFSI).

It has served global firms, including Microsoft, Nvidia, Alphabet, Amazon, Apple, Meta, and Tesla. It operates under two segments: Fractal.ai and Fractal Alpha.

Fractal.ai consists of AI services and AI products that are designed to help product owners and enterprises boost building and upgrading products through a pre-built suite of agents, connectors and tools with in-built low-code, governance, security, auditability and interoperability features.

Fractal Alpha consists of independent artificial intelligence businesses that target Fractal.ai’s core MWCs and broader markets and new geographies, with every business under separate management.