Fractal Analytics Eyes $3 Billion Valuation for IPO, May File DRHP Next Month

• Fractal Analytics plans to file its draft red herring prospectus (DRHP) for an IPO with the Securities and Exchange Board of India by the end of next month or early September.
• The company, founded by four IIM Ahmedabad graduates, aims for a $3 billion valuation on the Indian bourses.
• The IPO size is expected to be between $500-600 million, primarily consisting of secondary share sales by existing investors.
• Fractal Analytics counts TPG Capital and Apax Partners among its key private equity investors.
• The exact quantum of secondary stake sales is yet to be finalized, leaving the final IPO size uncertain.

Source: Moneycontrol