India, July 15 -- In the run up to its IPO, Fractal Analytics has raised $170 Mn through a secondary share sale, valuing the SaaS unicorn at $2.44 Bn.

The deal involved the sale of a 6% stake held by Fractal's early backer Apax Partners to a consortium of 22 institutional investors, a source close to the development told Inc42.

The top three buyers include Trust Investment Advisors, Gaja Capital and Neo Asset Management, while others such as White Oak Capital Management also participated in the round.

The startup was last valued $1.55 Bn after raising capital from TPG Capital in 2023.

Another source told Inc42 that Fractal is expected to file its DRHP by the end of this month or early next month. The IPO size is likely to be in the ra...