NewsAI unicorn Fractal said to begin book-building for ₹4,900 cr IPO next week Agnidev Bhattacharya3 min read28 Dec 2025, 04:47 PM ISTThe firm, backed by TPG Capital, filed its offer documents in August 2025. ((AI-generated image)SummaryFollowing strong investor interest during recent roadshows, the TPG-backed firm plans to file updated draft papers by mid-January 2026. Fractal Analytics Ltd is likely to begin the book-building process for its ₹4,900 crore market debut as early as next week, two people directly aware of the matter said. India's first artificial intelligence unicorn, which received regulatory approval for launching its initial public offering (IPO) in November, is likely to file updated draft papers by mid-January 2026, one of the people quoted above said. The company has been meeting potential investors, both local and global, and has received investment commitments from several of them, the other person explained. Book building is a process where merchant bankers determine a price range within which investors can bid for shares in an IPO. The final price is determined after the bidding process is completed. Also Read | Fractal Analytics files draft papers with Sebi for ₹4,900 crore IPOA book-building process is also likely to help Fractal decide on its pre-IPO placement, the second person said.
