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Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129

EntrackrEntrackr · 9h ago
Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129
Medial

Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129 Microlending platform Aye Finance has set a price band of Rs 122–129 per equity share for its upcoming initial public offering (IPO), after filing its red herring prospectus (RHP) with the capital markets regulator. According to the RHP, the public issue will open for subscription on February 9 and close on February 11, while the anchor book is scheduled to open on February 6. At the upper end of the price band, the company’s valuation is expected to be around $352 million. According to the company’s filing, Aye Finance will raise Rs 710 crore through a fresh issue and up to Rs 300 crore through offer-for-sale (OFS), aggregating to a total of Rs 1,010 crore IPO. The company’s co-founder Vikram Jetley and promoters such as Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II, CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP will offload shares via the OFS. Aye Finance had received SEBI’s approval in April, last year. Axis Capital, IIFL Capital, Nuvama and JM Financial are the book-running lead managers for the issue. As per the RHP, Elevation Capital is the largest external shareholder with a 16.03% stake, followed by LGT Capital, which holds 13.99% of the company. Meanwhile, Alpha Wave owns 11.10% of Aye Finance. On the financial side, Aye Finance's revenue from operations increased 21.5% to Rs 407 crore in Q1 FY26, compared to Rs 335 crore in Q1 FY25. However, the company's profit decreased 50% to Rs 30.5 crore in Q1 FY26 with a positive EBITDA of Rs 172 crore in the same period.

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Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation

EntrackrEntrackr · 17h ago
Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation
Medial

Fractal sets Rs 857–900 IPO price band, targets $1.6 Bn valuation AI solutions provider Fractal Analytics has set a price band of Rs 857–900 per equity share for its upcoming initial public offering (IPO), a day after filing its red herring prospectus (RHP) with the capital markets regulator. According to the RHP, the public issue will open for subscription on February 9 and close on February 11, while the anchor book is scheduled to open on February 6. At the upper end of the price band, Fractal’s valuation is expected to be around $1.6 billion. As reported earlier by Entrackr, Fractal trimmed its IPO size by 42% compared to what it had proposed in its draft red herring prospectus (DRHP). The IPO now comprises a mix of a fresh issue and an offer for sale (OFS) by existing shareholders. According to the RHP, the proceeds from the fresh issue are to be used for debt repayment, investments in technology and strategic initiatives, and general corporate purposes. Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal supports global enterprises across consumer goods and retail, technology, media and telecom, healthcare and life sciences, and BFSI. It counts Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla as clients. As per the RHP, TPG Fett is the largest external shareholder with a 25.49% stake, followed by Quinag Bidco, owned by Apax Partners, which holds 18.64% of the company. GLM Family Trust owns 15.59% of Fractal. Axis Capital, Citigroup, Morgan Stanley, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. Fractal’s shares are proposed to be listed on both the BSE and NSE. On the financial side, Fractal reported consolidated revenue of Rs 2,765 crore in FY25 from Rs 2,196 crore in FY24. Its net profit stood at Rs 220.6 crore in FY25, compared to a loss of Rs 54.7 crore in FY24. For the first half of FY26, it recorded revenue of Rs 1,559 crore and a profit of Rs 71 crore.

Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20

EntrackrEntrackr · 21d ago
Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20
Medial

Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20 Flipkart-backed logistics and delivery platform Shadowfax Technologies has officially set the price band for its initial public offering at Rs 118–Rs 124 per share. The Bengaluru-based company is gearing up to open its Rs 1,907 crore initial public offering on January 20, 2026, with the subscription window scheduled to close on January 22. Anchor investors are expected to be allotted shares a day before the issue opens. Shadowfax’s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore, where marquee backers, including Flipkart India, Eight Roads Investments, International Finance Corporation, Nokia Growth Partners, NewQuest Asia Fund, and Miare Asset will offload portions of their stakes. The lot size has been set at 120 shares, meaning retail investors will need approximately Rs 14,880 at the upper end of the band to apply for one lot. Shadowfax is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. Shadowfax reported 32% year-on-year growth in revenue to Rs 2,485 crore in FY25, along with a net profit of Rs 6.4 crore. For the first half of FY26, the company booked Rs 1,806 crore in revenue and Rs 21 crore in profit.

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