Overview
- Anchor book opens on February 6, the public offer runs February 9–11, and shares are slated to list on February 16.
- The Rs 2,833.9 crore issue includes a Rs 1,023.5 crore fresh issue and a Rs 1,810.4 crore OFS, with sales by Apax’s Quinag Bidco, TPG Fett Holdings, GLM Family Trust and certain existing shareholders.
- At the top of the band (Rs 900 a share), the offering implies a valuation of about Rs 15,480 crore.
- Net proceeds are earmarked for repayment of Fractal USA borrowings, investment in R&D and Fractal Alpha, IT equipment and office expansion in India, sales and marketing, and inorganic acquisitions.
- Financial disclosures show an 18% revenue CAGR from FY23 to FY25 with FY25 growth of 25.9%, shrinking losses to Rs 28.3 crore in FY25 and Rs 6.6 crore in H1 FY26, and a revenue base concentrated in the Americas.