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AI and decision-intelligence company Fractal Analytics’ shares listed at ₹876 on the NSE, a discount of 2.7% to the issue price of ₹900.
However, the shares listed flat at ₹900 on the BSE. At 10:14 IST, the stock was trading 3.12% below the issue price at ₹871.95 on the BSE. The company’s market capitalisation stood at ₹15,136 Cr (about $1.7 Bn) at the time.
The company’s ₹2,833.9 Cr IPO comprised a fresh issue of shares worth ₹1,023.54 Cr and an offer-for-sale (OFS) component of ₹1,810.4 Cr. The issue closed with 2.66X oversubscription. The price band for the IPO was set at ₹857-₹900 per share.
At the issue price of ₹900, Onida Group’s Gulu Mirchandani’s GLM Family Trust raked in ₹450 Cr by offloading 50 Lakh shares via the OFS. VC firm Apax Partners raked in a 5.2X returns on its initial investment by offloading 97.8 Lakh shares for ₹880.9 Cr.
(The story will be updated soon)
The post Fractal IPO: Shares List At 2.7% Discount On NSE appeared first on Inc42 Media.
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