India, Feb. 14 -- Early backers of AI SaaS firm Fractal Analytics, which is set to list on Monday (February 16), realised hefty returns from its initial public offering.

At the issue price of Rs.900, one of Fractal's earliest backers Gulu Mirchandani's GLM Trust offloaded 50 Lakh shares worth Rs.450 Cr via the offer-for-sale (OFS) component of the IPO. Notably, Onida's founder chairman Mirchandani invested Rs.2.74 Cr in Fractal back in 2004

Till 2024, he also served as the non-executive director on Fractal's board. After the dilution, GLM Trust will continue to hold 2.1 Cr shares in the company,valued at Rs.1,933 Cr.

VC firm Apax Partners also raked in 5.2X returns on its investment by offloading 97.8 Lakh shares via the OFS. At the up...