Fractal Analytics IPO Slumps 7% on Debut, Valued at $1.6B

India's first AI-focused IPO, Fractal Analytics (FRCT), opened below its ₹900 issue price at ₹876 and closed at ₹873.70, down 7%, valuing the company at ₹148.1 billion ($1.6B). Founded in 2000, Fractal provides AI/data analytics to global enterprises, with 70% revenue from the U.S. FY2025 revenue rose 26% to ₹27.65 billion, and net profit turned positive at ₹2.1 billion after a prior loss of ₹547 million. The IPO was cut 40% to ₹28.34 billion ($312.5M) from ₹49 billion ($540.3M). Proceeds will fund R&D, sales/marketing, U.S. debt repayment, and potential acquisitions.