Latest news with #GlobalAI
Entrepreneur
4 days ago
- Business
- Entrepreneur
Fractal Analytics Files ₹4,900-Crore IPO; Plans Global AI Expansion
The Initial Public Offering (IPO) will consist of a fresh issue of equity shares aggregating up to INR 12,793 million and an Offer for Sale (OFS) of equity shares aggregating up to INR 36,207 million. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Global enterprise AI company, Fractal Analytics, has announced that it has filed its Draft Red Herring Prospectus (DRHP) with the country's market regulator, Securities and Exchange Board of India (SEBI). The Initial Public Offering (IPO) will consist of a fresh issue of equity shares aggregating up to INR 12,793 million and an Offer for Sale (OFS) of equity shares aggregating up to INR 36,207 million. The Offer for Sale of face value of INR 1 each comprises equity shares aggregating up to INR 14,626 million by Quinag Bidco Ltd; equity shares aggregating up to INR 19,996 million by TPG Fett Holdings Pte. Ltd; equity shares aggregating up to INR 295 million by Satya Kumari Remala and Rao Venkateswara Remala; and equity shares aggregating up to INR 1,290 million by GLM Family Trust. The offer is being made through the book building process, in compliance with regulations where 75 per cent of the Net Offer shall be available to QIBs, 15 per cent to Non-Institutional Investors, and 10 per cent to Retail Individual Investors. It also includes a reservation for subscription by eligible employees, not exceeding 5 per cent of the company's post-offer paid-up equity share capital. Fractal has said that it will utilize the net proceeds from the offer towards investment in one of the company's subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings, purchase of laptops, setting-up new office premises in India, investment in research and development; and sales and marketing under Fractal Alpha, and funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Founded in 2000, Fractal was cofounded by Srikanth Velamakanni and Pranay Agrawal. The company supports large global enterprises across multiple industry verticals and business functions with data-driven insights and assists in decision-making through end-to-end AI solutions. Backed by marquee investors like TPG, Apax, and Gaja, the country's leading pure-play data and artificial intelligence company has domain expertise spanning consumer packaged goods and retail, technology, media, and telecom, healthcare and life sciences, and banking, financial services, and insurance. As per the company's industry report, Fractal is said to be uniquely placed among other industry players with active investments in expanding its AI and Gen AI software portfolio and R&D activities. As of 31 March, 2025, it has served companies like Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla. Fractal's revenue from operations increased by 25.9 per cent to Rs 2765 cr in FY25 in comparison with Rs 2196 cr in FY24. Similarly, profit after tax had a positive turnaround to INR 220 crore in FY25 from INR 54.7 crore in FY24. PAT and EBIDTA margins also saw an uptick to 12.6 per cent from (0.2 per cent) and 17.4 per cent from 10.6 per cent, respectively. Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, and Goldman Sachs (India) Securities Private Limited are the Book Running Lead Managers (BRLMs) to the IPO.
Bloomberg
13-05-2025
- Business
- Bloomberg
US Firm Global AI Secures Saudi Investment Worth Billions
Global AI, a US tech firm, plans to collaborate with a Saudi Arabian artificial intelligence venture, Humain, in an agreement expected to be worth billions of dollars, according to a person familiar with the mattter. The pact is an example of the deals President Donald Trump plans to highlight during his visit to the Middle East, focused on boosting trade and investment.
Time of India
12-05-2025
- Business
- Time of India
LTIMindtree bags its biggest order yet, $450 million multi-year deal with global agribusiness
LTIMindtree has announced agreement with a leader in the global agribusiness sector. The company claimed that this is the largest deal in the history of LTIMindtree, valued at $450 million across seven years. As a part of this deal, LTIMindtree will implement an AI-powered operating model to deliver application management, infrastructure support, and cybersecurity services. This comprehensive suite of future-ready IT services, built on platforms such as SAP S/4HANA, ServiceNow, Microsoft Azure, as well as proprietary AI frameworks are aimed at enhancing the client's operational efficiency, scalability, and global growth. "Securing this large deal marks a pivotal milestone as we transform to an AI driven business model, helping our clients enhance productivity." said Venu Lambu, Chief Executive Officer (Designate) and Whole-Time Director, LTIMindtree. "We are proud to be the trusted partner for one of the world's most respected agribusiness companies. "Winning this important deal underscores our strength in crafting innovative solutions and delivering with excellence.' said Nachiket Deshpande, President - Global AI Services, Strategic Deals, LTIMindtree. Samir Gosavi, Chief Business Officer – Retail and CPG, LTIMindtree, added, 'This win marks a major breakthrough for our consumer services business. Our AI-driven operating model will drive measurable business impact in an industry that's evolving rapidly."
