The OFS comprises equity shares with a face value of ₹1 each, distributed among several stakeholders. Quinag Bidco will offload shares worth ₹1,462.6 crore, TPG Fett Holdings will sell shares amounting to ₹1,999.6 crore, and other shareholders will contribute the remainder.
About 75% of the offer has been set aside for QIBs, 15% for non institutional investors (NIIs) and the remaining 10% for retail investors. It also includes a reservation for subscription by eligible employees, not exceeding 5% of the company’s post-offer paid-up equity share capital.Proceeds from the fresh issue to invest in its subsidiary, Fractal USA, for pre-payment or scheduled repayment of borrowings, and for setting up new offices in India.
Additionally, the funds will support research and development, marketing under Fractal Alpha, and potential acquisitions and strategic initiatives.Co-founded in 2000 by five graduates of the Indian Institute of Management Ahmedabad, the startup’s valuation topped $1 billion in 2022.
Three of the founders have since exited, leaving Group Chief Executive Officer Srikanth Velamakanni and Fractal CEO Pranay Agrawal at the helm. The men, who each own about 10% of the company, aren’t selling shares in the IPO.
Fractal supports large global enterprises across multiple industry verticals and business functions with data-driven insights and assists in decision-making through end-to-end AI solutions.
Backed by marquee investors such as TPG, Apax, Gaja, the countries leading pureplay data and artificial intelligent company has a domain expertise spanning across consumer packaged goods & retail; technology, media and telecom; healthcare and life sciences and banking, financial services and insurance.
The company has seen a huge growth, with revenue increasing by 25.9% to ₹2,765 crore in FY25 from ₹2,196 crore in FY24. Its profit after tax saw a turnaround, reaching ₹220.6 crore in FY25 compared to a loss of ₹54.7 crore in FY24.
Kotak Mahindra Capital, Morgan Stanley India Company, Axis Capital and Goldman Sachs (India) Securities are the book running lead managers to the IPO.
