India’s Fractal Analytics cuts IPO size by over 40% to $314 million
Indian enterprise artificial intelligence firm Fractal Analytics has cut the size of its initial public offering by over 40% to $313.6 million, ahead of the launch of the issue next week.
The Mumbai-based firm, set to become India’s first listed pure-play AI company, trimmed the IPO size to 28.34 billion rupees from 49 billion rupees, according to its prospectus released on Monday.
Fractal did not immediately respond to a Reuters request for comment on the reason for reducing the issue size.
