Fractal Analytics files IPO papers in bid to be 1st listed AI company in India
Mumbai: Fractal Analytics, a provider of artificial intelligence and analytics services to the likes of Tesla Inc. to Apple Inc., has filed its draft IPO papers with India’s market regulator. That puts the Mumbai- and New York-based firm on the path to become the first listed AI company in India.
The Fractal Analytics IPO will see the enterprise AI company raise as much as ₹4,900 crore by way of a fresh issue of shares worth ₹1,279.3 crore and an offer for sale (OFS) of shares worth ₹3,620.7 crore by marquee investors such as TPG, Apax Capital and Gaja Capital and some angel investors.
