New Delhi, Feb 16 (PTI) Shares of artificial intelligence (AI) solutions provider Fractal Analytics in debut trade on Monday closed with a discount of 7 per cent against the issue price of Rs 900.
The stock listed at Rs 876, a decline of 2.67 per cent from the issue price on the NSE. During the day, it hit an intraday high of Rs 897.30. It finally ended at Rs 837.70, down 6.92 per cent.
On the BSE, the shares made a flat debut, opening at Rs 900 per piece. Later, the scrip closed at Rs 847.40 apiece, down 5.84 per cent.
At the end of the trading session, the company's market valuation stood at Rs 14,572.32 crore on the BSE.
In volume terms, 68.19 lakh shares of Fractal Analytics were traded on the NSE, and 4.21 lakh changed hands on the BSE.
Meanwhile, the BSE Sensex climbed 650.39 points, or 0.79 per cent, to close at 83,277.15, while the NSE Nifty advanced 211.65 points, or 0.83 per cent, to settle at 25,682.75.
Last week, Fractal Analytics' initial public offering (IPO) was 2.66 times on the final day of bidding. The company had fixed the price band at Rs 857 to Rs 900 per share.
The Rs 2,834-crore IPO is a mix of fresh issue of equity shares worth up to Rs 1,023.5 crore and an offer for sale of Rs 1,810.4 crore.
Proceeds from the fresh issue will be utilised to invest in its subsidiary, Fractal USA, for repayment of debt, buy laptops, set up new offices in India, invest in research and development, support sales and marketing under Fractal Alpha, fund acquisitions and other strategic initiatives, and general corporate purposes.
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics is a pure-play data and artificial intelligence (AI) company and has domain expertise spanning across consumer packaged goods & retail, technology, media and telecom, healthcare and life sciences, and banking, financial services and insurance.
It supports large global enterprises across multiple industry verticals and business functions with data-driven insights and assists in decision-making through end-to-end AI solutions.
As of March 31, 2025, the firm served global companies, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla.