IPO-bound Fractal’s shareholders have raised USD 172 million at an enterprise value of USD 2.4 billion, sources aware of the development said.
Earlier, Fractal raised USD 685 million in funding from investors like TA, TPG and Apax, according to market research firm Tracxn.
“The total amount raised is USD 172 million at a valuation of USD 2.44 billion. The entire transaction is secondary in nature. No funds have come into Fractal,” the source said.
The query sent to the company did not elicit any reply.
The majority of shares were sold by Apax Partners.
The secondary sale took place amid the company’s plan to file draft papers with Sebi for an initial public offer. PTI
