India, July 12 -- IPO-bound SaaS unicorn Fractal Analytics' cofounder and CEO Srikanth Velamakanni has invested INR 48.7 Cr (about $5.6 Mn) in the company.

As per the company's regulatory filings, Velamakanni made the investment for the conversion of his partly paid-up equity shares into fully paid-up equity shares.

The company's board approved the conversion of 6.6 Lakh partly paid-up equity shares held by Velamakanni into fully paid-up equity shares at an issue price of INR 733 each, amounting to INR 48.73 Cr.

In a separate filing, the company said it also approved the allotment of 1.32 Lakh equity shares to as many as 81 employees under its ESOP scheme last month.

Queries sent to Fractal around the developments did not elicit any r...