An early investment by Onida Electronics co-founder Gulu Mirchandani in Fractal Analytics has grown into a spectacular success story, just as the artificial intelligence company prepares to enter the stock market.
Mirchandani had invested ₹2.75 crore in Fractal Analytics back in 2004, when the firm was still in its early stages. More than two decades later, that investment has multiplied dramatically and is now valued at over ₹2,400 crore, reflecting an extraordinary long-term return.
As part of the upcoming initial public offering (IPO), the Mirchandani family plans to partially cash in on its stake. The GLM Trust, through which the investment was made, is expected to sell around 15.5% of its holding, estimated to be worth roughly ₹450 crore.
Fractal Analytics’ IPO, worth ₹2,834 crore, opened for subscription on February 10 and is set to close on February 11. The issue includes both fresh shares and an offer for sale, while the company has already raised more than ₹1,248 crore from anchor investors ahead of the launch.
The price band for the IPO has been fixed between ₹857 and ₹900 per share, valuing the company at close to ₹15,500 crore. The funds raised will be used to repay debt, strengthen operations, expand offices, invest in research and development, and support strategic growth initiatives.
Founded in 2000, Fractal Analytics delivers artificial intelligence and data-driven solutions to global enterprises across sectors such as technology, retail, healthcare, and banking. Its client list includes major global companies like Microsoft, Apple, Amazon, Meta, and Tesla.
With its IPO attracting strong investor interest, Fractal Analytics is emerging as one of the notable AI-focused listings in India’s primary market, while Mirchandani’s early investment stands as a rare example of patience and long-term vision paying off massively.
Reference is taken from here