/entrackr/media/agency_attachments/2024/10/18/XDGqYgwk8PhvKwQWyFWY.png)
/entrackr/media/media_files/2024/10/21/asXBdf73DE2XmeLeoI2x.jpg)
/entrackr/media/member_avatars/2024/10/21/2024-10-21t083822584z-kunal-circle-png-768x768.png )
Follow Us/entrackr/media/media_files/2026/02/03/fractal-2026-02-03-16-15-04.png)
Artificial Intelligence (AI) solutions provider Fractal Analytics has filed its red herring prospectus (RHP) with the capital markets regulator, cutting its IPO size from what it had proposed earlier in its draft papers.
According to the RHP, Fractal’s public issue has been reduced by 42% to Rs 2,834 crore, from the Rs 4,900 crore IPO outlined in its draft red herring prospectus (DRHP) last year.
The revised IPO will comprise a fresh issue of shares worth Rs 1,023.5 crore and an offer for sale (OFS) of Rs 1,810.4 crore by existing shareholders. Proceeds from the fresh issue will be used to fund inorganic growth, invest in subsidiaries, meet working capital requirements, and for general corporate purposes.
Quinag Bidco Ltd, an investment vehicle managed by Apax Partners, will account for 48.6% of the total OFS, offloading shares worth Rs 881 crore. Meanwhile, the TPG Group and GLM Family Trust will each sell shares worth Rs 450 crore through the OFS.
The company will open anchor bidding on February 6, while the IPO will open on February 9 and close on February 11.
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal supports global enterprises across consumer goods and retail, technology, media and telecom, healthcare and life sciences, and BFSI. It counts Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla as clients.
As per the RHP, TPG Fett is the largest external shareholder with a 25.49% stake, followed by Quinag Bidco, owned by Apax Partners, which holds 18.64% of the company. GLM Family Trust owns 15.59% of Fractal.
Axis Capital, Citigroup, Morgan Stanley, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. Fractal’s shares are proposed to be listed on both the BSE and NSE.
On the financial side, Fractal reported consolidated revenue of Rs 2,765 crore in FY25 from Rs 2,196 crore in FY24. Its net profit stood at Rs 220.6 crore in FY25, compared to a loss of Rs 54.7 crore in FY24. For the first half of FY26, it recorded revenue of Rs 1,559 crore and a profit of Rs 71 crore.