Fractal Analytics Lists IPO Amid Negative GMP

Fractal Analytics closes a Rs 2,840 crore mainboard IPO and will list on the BSE and NSE on Monday, after an offer priced at Rs 900 per share that attracted anchor investment of Rs 1,248.25 crore. The issue was subscribed 2.81 times overall with QIBs at 4.41x, but shows a negative grey market premium and commands a pre-listing market cap of about Rs 15,474 crore.
Key Points
- 1Registers IPO subscription 2.81x overall; QIBs 4.41x, retail 1.1x, employee 0.65x.
- 2Shows negative grey market premium, indicating expected listing below issue price on debut.
- 3Indicates premium valuation: pre-listing market cap ~Rs15,474 crore and over 100x FY25 earnings.
Scoring Rationale
Strong subscription and valuation details drive score; limited novelty and company-specific scope constrain broader impact.
Sources
Public references used for this report.
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