Fractal Analytics IPO Opens Feb 9: Analysts Divided on High Valuations

• Fractal Analytics' ₹2833.90 crore IPO opens February 9, closing February 11, with a price band of ₹857-900 per share.
• It's India's first pure-play AI company to go public, offering 1.14 crore new shares and 2.01 crore shares via OFS.
• Analysts like Swastika Investmart note high valuations (79x post-FY25 P/E) but attribute it to a 'scarcity premium' for AI platforms.
• SBI Securities assigns a 'Neutral' rating due to elevated valuations (78.9x post-issue P/E for FY25) and modest growth projections, citing attrition and insourcing risks.
• Proceeds will fund Fractal USA investments, debt repayment, R&D, sales & marketing, and potential acquisitions.