Shares of AI solutions provider Fractal Analytics made a disappointing debut in the market, opening 2.67% below the issue price of Rs 900 at Rs 876. The firm’s stock later fell to Rs 855.55, reflecting a 4.94% drop on the NSE.
Despite the underwhelming start, the 30-share BSE Sensex saw a modest increase, gaining 185.88 points to reach 82,812.64, while the NSE Nifty climbed 57.50 points to 25,528.60.
The company’s initial public offering (IPO) was subscribed 2.66 times by the final day of bidding.
The Rs 2,834-crore IPO, a mix of fresh equity and an offer for sale, was downsized from an originally proposed Rs 4,900 crore. The funds raised will support Fractal USA, debt repayment, office expansion, and various strategic ventures, aiding its goal of providing comprehensive AI solutions to major global enterprises.
