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Business Standard
5 days ago
- Business
- Business Standard
AI firm Fractal Analytics files DRHP, eyeing to raise ₹4,900 cr via IPO
Enterprise AI company, Fractal Analytics, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), with an Initial Public offer worth Rs 4,900 crore. Fractal will be the first AI-focused firm to tap into the public market. The IPO comprises a fresh issue of equity shares aggregating up to ₹12,79.3 crore and an offer for sale of equity shares aggregating up to ₹3620.7 crore. The offer is being made through the book building process, in compliance with Regulation 6(2) 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 (Employee Reservation Portion), not exceeding 5 per cent of the company's post-offer paid-up equity share capital. The company may consider a pre-IPO placement aggregating up to ₹2,55.8 crore. Fractal Analytics proposes to utilise 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, sales and marketing under Fractal Alpha, and funding inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. Fractal was cofounded by Srikanth Velamakanni and Pranay Agrawal in 2000. It 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, Gaja, the company has domain expertise spanning across consumer packaged goods & retail, technology, media, telecom, healthcare and life sciences, banking, financial services and insurance. It serves 113 must-win clients, including Amica Insurance, C3 AI, Citibank, Costco, Franklin Templeton, Mars, Mondelez, Nestlé, Philips, among others. With almost 4,600 employees in India out of the total over 5,000, it derives over 66 per cent revenues from Americas, 17.7 per cent from Europe and rest from the APAC region. According to industry report, it is uniquely placed among other industry players, with active investments in expanding its AI and GenAI software portfolio and research and development activities. As on March 31, 2025, it has served the majority of the major tech companies, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta and Tesla. It has built its own diffusion based text-to-image model, and a medical multi-modal foundational ecosystem consisting of large language models, vision language models and medical reasoning systems. It has also created a mathematical large reasoning model and has open-sourced Fathom-R1-14B, a large AI reasoning foundation model with its datasets. Many of their other products are publicly accessible too. Fractal's revenue from operations increased by 25.9 per cent to ₹2,765 crore in FY25 in comparison with ₹2,196 crore in FY24. Similarly, profit after tax had a positive turnaround to 22 crore in FY25 from 5.47 crore in FY24. PAT and Ebitda margins also saw an uptick to 12.6 per cent from 0.2 per cent and 17.4 per cent per cent from 10.6 per cent, respectively. Between 2023 and 2025, Fractal has been growing at 18 per cent CAGR compared to third party data, analytics and AI services companies that grew at 11 per cent, said the company. 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 to the IPO.
Associated Press
23-07-2025
- Business
- Associated Press
Permanent Residency Through Investment
SLV Estates explores why Cyprus is the strategic choice for lifestyle investors in 2025, ahead of its 15 July online workshop covering tax, residency, and real estate opportunities in Greek Cyprus. LIMASSOL, CYPRUS , July 23, 2025 -- SLV Estates has announced a live online workshop on 31 July 2025 exploring why Cyprus is becoming the strategic choice for lifestyle investors in 2025. Amid shifting global priorities, Cyprus offers a powerful combination of EU access, favourable tax structures, and a high quality of life that is attracting discerning investors seeking long-term security and liveability. From improved infrastructure and stable governance to sun-drenched coastal living, Cyprus is presenting itself as more than a property hotspot — it's a gateway to an integrated, lifestyle-driven future for investors. Areas to be covered include: Cyprus: Where Lifestyle Meets Strategy Lifestyle investors — a growing global demographic seeking more than financial return — are increasingly targeting Greek Cyprus for its unique position in the EU. Offering full European legal protections and direct access to markets, Cyprus is considered a safe harbour for individuals and families prioritising education, healthcare, and personal freedom alongside capital preservation. Despite broader economic uncertainty, Cyprus posted 2.3% year-on-year GDP growth in Q1 2025, reflecting resilience in its real estate, financial services, and professional sectors. Its consistent regulatory framework, modelled on English common law, continues to build international investor confidence. Favourable Tax Environment Cyprus's tax regime remains among the most competitive in Europe. Non-domiciled residents benefit from exemptions on dividends and interest income for up to 17 years, and there is no inheritance tax. Capital gains tax applies only to property within Cyprus, and other global income streams remain untaxed for qualifying residents. Corporate taxation remains at 12.5%, making the jurisdiction popular with entrepreneurs, tech founders, and private wealth offices. These tax benefits, combined with EU-level regulatory oversight, provide a compelling reason for relocation or second-base establishment. Permanent Residency Through Investment Permanent Residency Through Investment While the 'Golden Visa' programme has been suspended, Cyprus continues to offer permanent residency via the Regulation 6(2) scheme. This pathway requires an investment of at least €300,000 + VAT in new-build real estate, alongside evidence of a secure annual income earned abroad — at least €50,000 for the main applicant, with further amounts required per dependent. Key conditions include: · Clean criminal record and no Schengen visa rejections · Proof of annual income from non-Cypriot sources · Property purchase from a Cypriot developer Successful applicants can include spouses and dependent children (up to age 25 in full-time education), with applications typically processed within 2–3 months. While no longer branded as a fast-track or automatic visa, the system remains efficient and accessible for genuine lifestyle investors. Real Estate Growth and Investor Demand Cyprus's property market has continued its upward trend, with demand particularly strong in Limassol, Paphos, and Larnaca. Infrastructure improvements, international schools, and marina developments have made these cities hubs for investment and relocation. According to figures from the Cyprus Land Registry, foreign property transactions rose 18% in the first half of 2025, as buyers from the UK, Middle East, and Asia look for secure, lifestyle-aligned opportunities within the EU. Properties offering sea views, eco-credentials, and smart home technology are particularly in demand. SLV Estates, with a deep presence across Cyprus, will showcase the most current market data and location insights in its July workshop — tailored for both first-time buyers and strategic portfolio investors. Strong Infrastructure, Modern Services Digital infrastructure in Cyprus has improved significantly, with nationwide fibre rollouts, widespread 5G coverage, and the introduction of digital services for residency and company registration. These developments support a growing number of remote workers, start-up founders, and distributed global teams relocating to the island. Healthcare is another draw. Cyprus's General Healthcare System (GHS) ensures universal coverage, while private healthcare is of high quality, with many practitioners trained in the UK or Europe. For families, retirees, and globally mobile individuals, access to English-speaking medical professionals provides confidence and continuity. Mediterranean Lifestyle, Year-Round Appeal With more than 320 days of sunshine per year, Cyprus offers a quality of life that few other EU destinations can match. English is widely spoken in both professional and everyday settings, and the country's rich cultural heritage is complemented by modern conveniences and international communities. Direct flights from Larnaca and Paphos airports connect Cyprus with over 40 destinations, including London, Dubai, Frankfurt, and Tel Aviv, making it easily accessible for investors with cross-border business interests. 'Today's investors want more than just returns — they want a sense of security, quality of life, and a base that offers long-term value. Cyprus provides all of this within a transparent EU framework,' said Paul Hann, Head of International Sales at SLV Estates. 'We're looking forward to sharing actionable guidance in our July workshop for those ready to explore what Cyprus has to offer.' Free Online Workshop: 31 July 2025 SLV Estates will host a free Zoom workshop on 31st July 2025 at 6 PM BST, titled 'Why Cyprus'. The interactive session will feature legal, tax, and property experts providing practical guidance on: Attendees will also receive a free investor briefing pack, complete with market data, case studies, and a residency eligibility checklist. Register now at: A Forward-Looking Destination As investors re-evaluate priorities in a post-pandemic, climate-conscious world, Greek Cyprus is stepping forward with a model built on stability, accessibility, and value-based living. For those seeking a base that bridges personal freedom with professional opportunity, Cyprus is proving to be one of Europe's most compelling lifestyle destinations in 2025. About the company: SLV Estates is a leading property and relocation consultancy based in Cyprus and the UK, offering expert guidance to international investors looking to secure permanent residency, acquire real estate, or relocate to the island. With decades of experience and multilingual support, SLV Estates helps clients navigate every step of the investment journey. Contact Info: Name: Paul Hann Email: Send Email Organization: SLV Estates Address: The loft, 1 Mayors Avenue, Dartmouth, TQ6 9NF Phone: 01803 261111 Website: Release ID: 89165320 If there are any deficiencies, discrepancies, or concerns regarding the information presented in this press release, we kindly request that you promptly inform us by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team is committed to addressing any identified issues within 8 hours to guarantee the delivery of accurate and reliable content to our esteemed readers.
Hindustan Times
27-06-2025
- Politics
- Hindustan Times
Chandigarh: AAP presses for anti- defection law
Two days after UT administrator Gulab Chand Kataria approved that the elections of the mayor, senior deputy mayor, and deputy mayor will now be elected through a show of hands instead of the earlier secret-ballot method, the local unit of Aam Aadmi Party (AAP) on Thursday held a press conference and demanded the immediate implementation of the Anti-Defection Law in the Chandigarh municipal corporation (MC). The local unit of Aam Aadmi Party (AAP) on Thursday held a press conference. (HT photo for representation) In a press conference, Vijaypal Singh, president of the Chandigarh AAP unit along with city councillors Yogesh Dhingra, Hardeep Singh, Jaswinder Kaur, and party's general secretary Omkar Singh Aulakh, said, 'AAP has consistently fought for transparency and strengthening democracy in Chandigarh over the past year. After continuous engagement with the public, judiciary, administration, and even Parliament, the approval of the 'Show of Hands' voting system marks a shared victory of AAP and the people of Chandigarh.' 'But this reform represents 50% progress towards full democratic transparency. Anti-defection law is a must to ensure complete transparency and to curb casteism, ideological deviation, and political horse-trading', the leaders added. Leaders said that during the mayor elections on January 30, 2024, returning officer Anil Masih was caught on camera while tampering with 8 votes cast in favour of AAP–Congress alliance candidate Kuldeep Kumar Dhalor. 'This incident was described by the Supreme Court as a 'murder of democracy'. The election was cancelled and Dhalor was declared the mayor validly elected. In October 2024, AAP-Congress councillors led by Yogesh Dhingra, had approved an amendment to Regulation 6, recommending a shift from secret ballot to the 'Show of Hands' method for mayoral elections', they added. They said that AAP leaders then met deputy commissioner in January and had then filed a petition in the Punjab and Haryana high court, demanding that the proposed secret ballot election scheduled for January 24 be cancelled and held via the show of hand system. 'Chandigarh MP Manish Tewari had also raised this issue in Parliament, advocating for a five-year mayoral term and open voting through the show of hands method at the national level,' they added.
Time of India
22-04-2025
- Business
- Time of India
Second among equals? Yes, say CCOs. Not by paycheck, counter cos
Mumbai: A recent Sebi circular designating a company secretary or chief compliance officer (CCO) at one level below the managing director or CEO has sparked both celebration and concern - cheered by compliance heads but viewed warily by several listed companies. Industry insiders say the change has prompted some CCOs to seek parity with chief financial officers (CFOs) in terms of hierarchy and pay. In many mid-sized firms, CFOs often report directly to the MD or CEO, commanding salaries more than double that of CCOs. People said compliance chiefs of a mid-sized IT firm and two chemical companies have formally asked their boards to elevate their roles to the same level as CFOs, along with corresponding hikes in compensation. India Inc is urging the market regulator to clarify that the circular's intent is to strengthen reporting lines and not to redefine organisational structures or remuneration frameworks. This is since companies are fearing that the directive could inadvertently disrupt internal hierarchies, creating HR and pay-scale challenges, especially in those where roles differ sharply in scope and scale across functions. "The position of a CCO is undoubtedly very important, especially in the context of the regulatory heavy environment, but this is more so in case of companies which have heavy sectoral regulatory oversight such as banks, NBFCs and insurance companies," said Ketan Dalal, managing director, Katalyst Advisors. "However, it is important for Sebi to clarify that the dispensation is more in the context of reporting, and not necessarily in terms of the HR organisation structure or compensation levels." The regulatory amendment - issued on April 1- modifies Regulation 6 of the Listing Obligations and Disclosure Requirements (LODR), 2015. It mandates that a listed company's compliance officer must be a full-time employee and occupy a position one level below the MD or a whole-time director, if these individuals sit on the company's board. This shift marks a broader rethinking of compliance - no longer a box-ticking role, but a core strategic function. By elevating the CCO's stature, Sebi aims to ensure they are empowered to flag lapses directly to top management, enhancing corporate oversight. "Sebi's intent is to empower CCOs to perform their duties fearlessly and ensure adherence to regulatory norms, not to mandate changes in their compensation structures," said Shailesh Haribhakti, chairman, Shailesh Haribhakti and Associates. "When it comes to remuneration, each company will make its own decision based on the scope and complexity of the compliance function." That said, others see the move as a much-needed step in the evolution of corporate governance in Indian companies. "With regulatory scrutiny on the rise, the consequences of non-compliance can be just as damaging as financial mismanagement, making the CCO's role equally strategic," said Zubin Morris, partner at Little & Co.
