Fractal Analytics to file draft papers for $500 million IPO

The company has hired Morgan Stanley, Kotak Mahindra Capital and Axis Capital to manage the issue

- Priyamvada C

Fractal Analytics is preparing to file draft papers for a $500 million public listing over the next five to six weeks at a valuation exceeding $3 billion, two people familiar with the matter told Mint. "A bulk of the issue will have an offer-for-sale component under which existing investor Apax Funds will look to part sell its six-year-old stake in the company," one of the people said. The person added that TPG may also consider a small stake sale on its three-year-old bet in the company.

The second person said that the draft papers will be filed by the second week of August, with the listing expected by the end of this financial year.

Fractal did not immediately respond to