Sebi approves IPO of Fractal Analytics, India’s first AI company going public

The high tide of deep tech has brought the first public offer of an AI firm to Indian shores. The Securities and Exchange Board of India (Sebi) greenlit the Rs 4,900-crore initial public offering (IPO) of AI firm Fractal Analytics on Monday, marking a major step in India’s public markets and the nascent AI ecosystem.

The company

Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics provides enterprise AI solutions to Fortune 500 companies. Headquartered in Mumbai and New York City, the company serves clients such as Microsoft,…