Fractal Analytics sets IPO price band at Rs 857-900, becomes India's first pure-play AI listing
Fractal Analytics has set its IPO price band at Rs 857-900 per share, targeting a valuation of $1.6 billion as India's first pure-play AI company to list publicly. The Mumbai-based firm cut its issue size by 42% to Rs 2,834 crore and secured Rs 1,248 crore from anchor investors including SBI MF, ICICI Prudential, and Morgan Stanley. The offering opens February 9 amid a broader IT sector rout, positioning Fractal as a direct bet on enterprise AI rather than traditional outsourcing models.