#SEBI #IPOApproval #FractalAnalytics #AmagiMediaLabs #SahajanandMedical #IndianIPO #TechIPO #AI #SaaS #MedTech #CapitalMarkets #TPG #ApaxPartners #VentureCapital #OFS
Mumbai: The Indian capital market pipeline has received a significant boost with the Securities and Exchange Board of India (SEBI) issuing its “observations” on the draft papers of three major companies, effectively granting them permission to launch their Initial Public Offerings (IPOs). The regulatory go-ahead was given to Fractal Analytics and Amagi Media Labs on November 18, and to Sahajanand Medical Technologies (SMT) on November 17.
This issuance of observations confirms regulatory satisfaction with the draft red herring prospectuses (DRHPs) and paves the way for the companies to raise substantial capital from the public markets within the next year, signaling strong investor interest in India’s technology and specialized healthcare sectors.
🧠 Fractal Analytics: Leading the AI IPO Charge
Fractal Analytics, a global enterprise Artificial Intelligence (AI) solutions provider backed by marquee private equity firms like TPG and Apax Partners, is set to launch what is expected to be one of India’s first major AI-focused public issues.
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Total Issue Size (Proposed): Up to ₹4,900 crore.
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Issue Structure: The IPO is a combination of a fresh issue of equity shares worth up to ₹1,279.3 crore and a substantial Offer-for-Sale (OFS) valued at ₹3,620.7 crore by existing shareholders.
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OFS Participants: Key investors offloading stakes include Quinag Bidco (an Apax affiliate), TPG Fett Holdings, and the promoters Satya Kumari Remala and Rao Venkateswara Remala, along with the GLM Family Trust. TPG Fett Holdings is noted as the largest shareholder, holding a 25.67% stake pre-issue.
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Use of Proceeds: Funds from the fresh issue are strategically planned to support the company’s expansion, including:
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Investment in its US subsidiary, Fractal USA, for the repayment of borrowings.
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Funding acquisitions and other strategic initiatives.
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Investing in research and development (R&D) and scaling its sales and marketing under the Fractal Alpha initiative.
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Fractal’s move to the public market underscores the rising maturity and value creation within India’s B2B software and AI ecosystem, catering to a global clientele including several Fortune 500 companies.
☁️ Amagi Media Labs: SaaS Innovation Goes Public
Amagi Media Labs, the Bengaluru-based Software-as-a-Service (SaaS) company, also secured its green light. Amagi is a pioneer in cloud-native technology, helping media companies and broadcasters deliver video content and advertising via internet streaming platforms.
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Fresh Issue: Up to ₹1,020 crore.
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Offer-for-Sale (OFS): Existing shareholders will offload 3.4 crore equity shares.
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OFS Participants: Notable institutional investors participating in the sale include PI Opportunities Fund, Norwest Venture Partners, Accel India, Trudy Holdings, and AVP I Fund. The company is backed by a powerful roster of investors, including Azim Premji’s Premji Invest.
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Use of Proceeds: The fresh issue proceeds are primarily targeted toward technological scaling:
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Approximately ₹667 crore will be invested in technology and cloud infrastructure.
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The remaining amount will be deployed for funding inorganic growth through acquisitions and general corporate purposes.
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Amagi’s IPO is a significant development in the domestic SaaS space, highlighting the potential for Indian companies to provide mission-critical cloud infrastructure to the global media and entertainment industry.
🫀 Sahajanand Medical Technologies: High-Tech Healthcare Listing
The SEBI approval extends beyond the technology realm to the specialized healthcare sector, with the clearance of Sahajanand Medical Technologies (SMT), a leading cardiovascular devices manufacturer.
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Issue Structure: SMT’s public offer is notable for being entirely an Offer-for-Sale (OFS) of 2.76 crore shares by promoters and investors. The company will not receive any direct proceeds from the issue.
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Core Business: Founded in 2001, SMT specializes in Class III and Class C/D medical devices for critical vascular and structural heart interventions, including advanced coronary stents, coronary balloons, and trans-catheter aortic valve (TAVI) systems.
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OFS Participants: Shareholders offloading stakes include Samara Capital, NHPEA Sparkle, and Kotak Pre-IPO Opportunities Fund.
The approvals for these three highly differentiated companies reflect a robust appetite in the Indian public markets for growth-oriented firms across cutting-edge technology and vital healthcare segments.
#SEBI #IPOApproval #FractalAnalytics #AmagiMediaLabs #SahajanandMedical #IndianIPO #TechIPO #AI #SaaS #MedTech #CapitalMarkets #TPG #ApaxPartners #VentureCapital #OFS
