AI unicorn Fractal Analytics files DRHP for Rs 4,900 Cr IPO
The public offering will include a fresh share issuance of Rs 1,279.3 crore, alongside an offer-for-sale amounting to Rs 3,621 crore from existing investors Quinag Bidco (managed by Apax Partners), TPG Fett Holdings Pte, and GLM Family Trust.
AI and analytics solutions provider Fractal has filed its draft red herring prospectus (DRHP) with markets regulator SEBI to raise up to Rs 4,900 crore ($590 million) through an initial public offering.
According to the DRHP filed on Wednesday, the public offering will include a fresh share issuance of Rs 1,279.3 crore, alongside an offer-for-sale (OFS) amounting to Rs 3,621 crore from existing investors Quinag Bidco (managed by Apax Partners), TPG Fett Holdings Pte, and GLM Family Trust.
Additionally, angel investors Satya Kumari Remala and Rao Venkateswara Remala will participate as selling shareholders in the OFS.
Founded by Srikanth Velamakanni and Pranay Agrawal, Fractal offers a suite of AI and analytics solutions, including predictive modelling, machine learning, and data engineering, across various industries such as consumer goods, healthcare, financial services, and retail.
In March this year, the firm injected $20 million into its spin‑out Asper.ai, a specialised AI‑for‑growth platform serving the consumer goods and manufacturing sectors.
To date, Fractal has raised roughly $855 million, including a $360-million round in 2022 which led the company into the unicorn club. Currently, it employs over 5,000 people in 16 locations across India, the United States, the United Kingdom, and Australia.
Edited by Swetha Kannan