Fractal Analytics is the marquee IPO of the week and is also being positioned as India’s first pure-play artificial intelligence listing. The Rs 2,834 crore issue will open for subscription on February 9 and close on February 11, with listing scheduled for February 16 on the BSE and NSE.
The IPO is worth Rs 2,834 crore and includes a fresh issue of shares worth Rs 1,023 crore and an offer for sale of Rs 1,810 crore by existing shareholders. The price band has been fixed at Rs 857 to Rs 900 per share. Investors can apply in a minimum lot size of 16 shares, requiring an investment of Rs 14,400 at the upper end.
Also Read | Quant MF cuts gold, silver exposure near peak levels in multi-asset fund
Founded in 2000, Fractal has built a global enterprise-focused AI and decision intelligence business over more than two decades. The company serves a large roster of global clients, with a significant share of revenue coming from the US market, and operates across AI services, platforms and standalone growth businesses.
Investor interest has been strong ahead of the issue, with grey market indications pointing to a premium of around 4%, reflecting expectations of a positive debut.
Alongside Fractal, Aye Finance will also tap the markets with a Rs 1,010 crore book-built IPO opening on February 9 and closing on February 11, with listing slated for February 16.
The issue comprises a fresh issue of Rs 710 crore and an offer for sale of Rs 300 crore. Incorporated in 1993, Aye Finance is an NBFC focused on providing secured and unsecured loans to micro-scale MSMEs across manufacturing, trading, services and allied agriculture, with a presence across 18 states and three union territories.
On the SME side, Marushika Technology will open its NSE SME IPO on February 12 to raise around Rs 27 crore, rounding off a busy week for the primary market.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)