IPO calendar: 3 issues worth Rs 3,871 crore to open next week as Fractal and Aye Finance hit the market

India’s primary market is set for an active week, with three companies looking to raise a cumulative Rs 3,871 crore through initial public offerings taking place between February 9 and 16. The spotlight will be firmly on two mainboard issues: Fractal Analytics and Aye Finance, which together account for the bulk of the fundraising.Fractal Analytics is the IPO of the week and is also positioned as India’s first pure-play artificial intelligence listing. The Rs 2,834 crore issue will open for subscription on February 9 and close on February 11, with a listing scheduled for February 16 on the BSE and NSE.

The IPO is valued at Rs 2,834 crore and includes a fresh issue of shares worth Rs 1,023 crore and an offer for sale of Rs 1,810 crore by existing shareholders. The price range has been fixed at Rs 857 to Rs 900 per share. Investors can apply for a minimum lot size of 16 shares, which requires an investment of Rs 14,400 at the top end.

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Founded in 2000, Fractal has built a global, enterprise-focused AI and decision intelligence company over more than two decades. The company serves a large number of global customers, with a significant portion of revenue coming from the US market, and is active in AI services, platforms and standalone growth companies.

Investor interest was high ahead of the issuance, with gray market indications pointing to a premium of around 4%, reflecting expectations of a positive debut.

Besides Fractal, Aye Finance will also tap the markets with a book-built IPO of Rs 1,010 crore, opening on February 9 and closing on February 11, with a listing scheduled for February 16.

The issue includes a fresh issue of Rs 710 crore and an offer for sale of Rs 300 crore. Established in 1993, Aye Finance is an NBFC focused on providing secured and unsecured loans to micro SMEs in manufacturing, trading, services and allied agriculture, with a presence in 18 states and three union territories.

On the SME side, Marushika Technology will open its NSE SME IPO on February 12 to raise around Rs 27 crore, rounding off a busy week for the primary market.

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