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News Topical, Digital Desk : Fractal Analytics listed on the Indian stock market today (Fractal Analytics IPO listing today). The IPO opened on February 9th and closed on February 11th. Fractal Analytics is one of the first companies in India focused solely on artificial intelligence. On Monday, February 16th, the shares listed on the NSE at a discount of 2.67% at ₹876 (Fractal Analytics Share Price).
Fractal Analytics IPO Details
The Fractal Analytics IPO received a strong response by the end of the subscription period. Qualified institutional buyers (QIBs) subscribed 4.18 times their allotted quota, followed by non-institutional investors (NIIs) with 1.06 times subscriptions and retail investors with 1.03 times subscriptions. On the third day of the issue, the IPO was subscribed a total of 2.66 times.
The Fractal Analytics IPO price band
for the Fractal Analytics IPO was set at ₹857 to ₹900 per equity share. The face value of the share is ₹1. One lot consists of 16 equity shares and multiples thereof. The IPO has a total issue price of ₹2,834 crore. This includes a new issue of ₹1,023.5 crore worth of shares, while an offer for sale (OFS) of ₹1,810.4 crore is issued.
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The company will use a portion of the proceeds raised from this issue to repay some outstanding debt of its subsidiary. The funds will also be used for purchasing laptops, acquiring additional office space, research and development, sales and marketing activities, and potential acquisitions.
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