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Fractal Analytics makes muted market debut, lists at nearly 3% discount

EntrackrEntrackr · 11d ago
Fractal Analytics makes muted market debut, lists at nearly 3% discount
Medial

Fractal Analytics makes muted market debut, lists at nearly 3% discount Artificial intelligence-focused analytics firm Fractal Analytics made a subdued debut on the stock exchanges on Monday, listing at a discount to its issue price despite strong expectations around its pure-play AI company. The company’s shares opened at Rs 876 on the National Stock Exchange, nearly 3% below the upper end of its IPO price band of Rs 900. A similar trend was visible on the Bombay Stock Exchange. The muted debut comes as its IPO had generated moderate interest during the subscription period. Its IPO booked nearly 2.66 times at the time of bid closure on the final day. According to exchange data, QIBs subscribed 4.18X, followed by Non-Institutional Investors (NIIs) at 1.06 times. The retail investor quota saw muted demand, with subscriptions reaching only 1.03X. Fractal’s public issue was reduced by 42% to Rs 2,834 crore, from the Rs 4,900 crore IPO outlined in its draft red herring prospectus (DRHP) last year. The revised IPO will comprise a fresh issue of shares worth Rs 1,023.5 crore and an offer for sale (OFS) of Rs 1,810.4 crore by existing shareholders. Proceeds from the fresh issue will be used to fund inorganic growth, invest in subsidiaries, meet working capital requirements, and for general corporate purposes. Founded in 2000, Fractal provides artificial intelligence and advanced analytics solutions to global enterprises across sectors such as consumer goods, retail, healthcare, technology and financial services. The company derives a majority of its revenue from overseas markets, particularly the US. 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.

Lenskart makes tepid market debut; stock opens below issue price

EntrackrEntrackr · 3m ago
Lenskart makes tepid market debut; stock opens below issue price
Medial

Lenskart makes tepid market debut; stock opens below issue price Lenskart listed at a discount to its IPO price. The shares of the eyewear retailer opened at Rs 395 per share on the NSE, about 1.7% lower than the issue price of Rs 402, and at Rs 390 on the BSE, down nearly 3%. Lenskart made a tepid debut on the stock exchanges today, listing at a discount to its IPO price. The shares of the eyewear retailer opened at Rs 395 per share on the NSE, about 1.7% lower than the issue price of Rs 402, and at Rs 390 on the BSE, down nearly 3%. The company’s Rs 7,278 crore IPO, which was subscribed around 28 times, had earlier seen strong demand from institutional and retail investors, but the listing failed to follow that enthusiasm. The stock slipped further in early trade, dropping over 10% below the issue price before recovering some ground later. The tepid listing came despite a strong brand presence and consistent growth in Lenskart’s business. At the upper end of the price band, the company was valued at around 10X FY25 sales and close to 69X EBITDA. The IPO was open for subscriptions from October 31 to November 4, with a price band of Rs 382–402 per equity share and minimum investment of Rs 14,874 and in multiples thereafter. According to exchange data, Lenskart’s IPO was oversubscribed 28.26 times with the retail portion at 7.53X, QIBs (ex-anchors) at 40.35X, Non Institutional Investors (NIIs) at 18.2X and employee portion subscribed 4.96 times. During the process of the Initial public offering (IPO), the Peyush Bansal-led company raised Rs 3,268 Cr from anchor investors. On the financial front, Lenskart’s revenue grew 22.6% year-on-year to Rs 6,653 crore in FY25 from Rs 5,428 crore in FY24, driving the firm from a Rs 10 crore loss in FY24 to a net profit of Rs 297 crore in the last fiscal year. In Q1 FY26, the SoftBank-backed company posted a profit of Rs 61 crore, compared with a loss of Rs 10.9 crore in Q1 FY25, while its operating revenue rose 25% year-on-year to Rs 1,894.4 crore.

Bluestone Jewellery IPO sees muted demand; listing on Aug 19

EntrackrEntrackr · 6m ago
Bluestone Jewellery IPO sees muted demand; listing on Aug 19
Medial

Bluestone Jewellery’s IPO drew a weak response from the market. The Rs 1,500 crore issue, open between August 11–13, was subscribed around 2.57X overall, with the bulk of the demand coming from institutional investors. According to exchange data, the Qualified Institutional Buyers (QIBs) portion was subscribed 4.09X, while Non-Institutional Investors (NIIs) bid only 0.53X. The Retail Individual Investors (RIIs) category managed 1.22X subscription. The company had fixed a price band of Rs 492–517 per share. The response was modest when stacked against earlier startup IPOs. Nykaa drew over 80X subscriptions, Zomato 38X, and Mamaearth 7.6X. Even smaller digital-first brands managed stronger demand from retail and HNIs. Bluestone’s weak turnout signals a fading appetite for highly valued D2C and consumer internet firms. The grey-market buzz around Bluestone’s IPO has been lukewarm, with GMP easing from around 2% to below 1% by the end, pointing to minimal expected listing gains. Meanwhile, Bluestone is targeting a high valuation of roughly Rs 7,800–8,100 crore, putting it in the same league as Titan’s CaratLane despite weaker overall profitability metrics. In FY25, Bluestone posted healthy revenue growth but continued to operate at single-digit EBITDA margins. Its omnichannel approach, online sales supported by over 250 physical stores, has helped scale up but also increased costs. The company has posted a revenue of Rs 1,770 crore with a net loss of Rs 222 crore during the previous fiscal year ended March 2025. Bluestone will list on August 19, but analysts expect a weak debut because of low subscription. The listing will show whether investors remain cautious about new-age consumer brands or if interest in the D2C sector can bounce back.

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