Fractal Analytics, an artificial intelligence and advanced analytics solutions provider, is reportedly planning to submit the Draft Red Herring Prospectus (DRHP) for an IPO to the Securities and Exchange Board of India (SEBI).

According to reports, the analytics company plans to file its draft papers by the end of next month or early September. It is also considering listing on the Indian stock exchanges, with a valuation of approximately $3 billion.

The IPO will likely be between $500 and $600 million in size, with a significant portion coming from secondary share sales made by current investors. Renowned private equity firms TPG Capital and Apax Partners are among the investors in Fractal.

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According to sources, the final size of the IPO is yet unknown because the amount of secondary stake sales has not been decided.

Fractal Analytics became a unicorn SaaS company in January 2022 after it raised $360 million from private equity firm TPG. Headquartered in both Mumbai and New York City, the company was founded in the year 2000 and serves clients in sectors like consumer packaged goods, insurance, healthcare, life sciences, retail, and technology.

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