Fractal Shares Fall in Mumbai Debut After $313 Million India IPO

Fractal Analytics Ltd. shares fell in their Mumbai trading debut on Monday, signaling continued weakness in investor appetite for technology startups amid valuation concerns in an otherwise subdued stock market.

Shares of the data analytics company dropped as much as 5% to 855.15 rupees after raising 28.34 billion rupees ($313 million) in an initial public offering at 900 rupees apiece. In a separate listing on Monday, shares of Aye Finance Ltd. fell as much as 3.9% to 124 rupees from their offer price of 129 rupees.