Indian IPO Market: There has been a flood of Initial Public Offerings (IPOs) in the Indian stock market for the last few months. Many big companies have launched their IPO in the stock market. Fractal Analytics, India’s first Artificial Intelligence (AI) solution providing company, has also been included in this list.
The company has received approval from SEBI. The company will raise Rs 4,900 crore through IPO. Besides, the IPO of stent manufacturer Sahajanand Medical Technologies and software service company Amagi Media Labs is also going to hit the market soon.
Fractal Analytics IPO
Fractal Analytics is planning to raise Rs 4,900 crore through this IPO. The company will bring fresh shares worth Rs 1,279.3 crore in the market. At the same time, shares worth Rs 3,620.7 crore are on offer for sale. According to information received from media reports, the company had submitted the draft paper to SEBI in the month of August.
The company will use Rs 264.9 crore of the money raised from the IPO to repay the interest of its subsidiary Fractal USA. Along with this, money will also be spent in the development of the company. The company believes that, this will make its financial position stronger than before, and will also help in expanding AI services.
2 more companies are bringing IPO
Amagi Media Labs and Sahajanand Medical Technologies are going to launch their IPO in the market. Consent has been received from SEBI for this. Amagi Media Labs will issue fresh shares worth Rs 1,020 crore through IPO and shares worth Rs 3.41 crore through offer for sale.
Disclaimer: (The information provided here is being given for information only. It is important to mention here that investment in the market is subject to market risks. Always take expert advice before investing money as an investor. ABPLive.com never advises anyone to invest money here.)
Also read: Tata’s Specialized Investment Fund launched, know how much you can start with
