Fractal's Strategic Capital Move Ahead of IPO
IPO-bound Fractal's shareholders have secured USD 172 million in a secondary sale, valuing the company at USD 2.4 billion. The significant share sale, primarily by Apax Partners, sets the stage for Fractal's upcoming IPO filing with Sebi. No new funds were injected into the company.
- Country:
- India
In a strategic financial maneuver, Fractal's shareholders have successfully raised USD 172 million, valuing the enterprise at USD 2.4 billion, sources familiar with the situation revealed.
Previously, the analytics company obtained USD 685 million from investors including TA, TPG, and Apax, as per market research by Tracxn. The current transaction is entirely secondary, indicating no fresh capital infusion into Fractal, according to the insider information. Attempts to receive comments from the company went unanswered.
The lion's share of this transaction was attributed to Apax Partners, who capitalized on the secondary sale as Fractal prepares to proceed with drafting documentation for a planned initial public offering with the Securities and Exchange Board of India (Sebi).
(With inputs from agencies.)
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