Fractal Analytics Limited is a leading Indian enterprise AI and analytics company providing decision intelligence solutions to global clients. It is backed by marquee investors like TPG, Apax Partners, Gaja Capital and others. The firm serves major global companies across sectors such as tech, retail, BFSI, healthcare, and more. (The Economic Times)
This IPO is notable as India’s first pure-play AI company public listing. (The Economic Times)
📅 Fractal Analytics IPO Dates
| Event | Date |
|---|---|
| IPO Opening Date | 9 Feb 2026 |
| IPO Closing Date | 11 Feb 2026 |
| Basis of Allotment Finalization | 12 Feb 2026 |
| Refunds Initiated | 13 Feb 2026 |
| Transfer to Demat Accounts | 13 Feb 2026 |
| Expected Listing Date | 16 Feb 2026 |
💰 IPO Issue Size & Structure
- Total Issue Size: ₹2,834 crore approx. (after a cut from the originally planned ₹4,900 crore)
- Fresh Issue: ~₹1,023 crore
- Offer for Sale (OFS): ~₹1,810 crore (existing investors selling)
- Face Value: ₹1 per share
💹 IPO Price / Price Band
- The final price band isn’t officially published yet, but unofficial market discussions suggest a price band near ₹1000–1100 per share.
Official price will be confirmed in the Red Herring Prospectus (RHP).
📊 Market Lot / Minimum Bid
- Market lot and exact share count per lot will be revealed in the official IPO documents (RHP). Most IPOs use a lot size of 40–60 shares, but this hasn’t been officially confirmed for Fractal yet.
📈 Company Financial Highlights
Here’s a summary from its latest available data: (IPOUPDATES)
| Metric | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | ₹2,765 crore | ₹2,241 crore | ₹2,043 crore |
| Profit After Tax | ₹220.6 crore | Loss ₹54.7 crore | ₹194.4 crore |
| EBITDA | ₹398 crore | ₹97.2 crore | ₹436.8 crore |
| Margins | Positive in FY25 | Negative FY24 |
Key takeaways:
✔ Returned to profit in FY25 after loss in FY24
✔ Strong revenue growth (~26% YoY)
✔ Expanding AI services and research capabilities
📊 Fractal Analytics IPO Valuation (FY2025)
Fractal’s IPO pricing and valuation estimates vary across sources, but analyses suggest a valuation of around $3 billion+ post-IPO based on market expectations and recent performance.
📌Promoters & Shareholding
Promoters:
- Srikanth Velamakanni
- Pranay Agrawal
- Chetana Kumar
- Narendra Kumar Agrawal
- Rupa Krishnan Agrawal
As of the draft filing:
- Promoter holding (Pre-IPO): ~18.3%
- After IPO post-shareholding will be declared later.
📌Objects of the Issue & Use of Funds
The fresh issue proceeds are expected to be used for:
- Repayment of borrowings at Fractal USA
- Technology & R&D investment
- Setting up new offices in India
- Purchase of equipment like laptops
- Inorganic growth & strategic initiatives
- General corporate purposes
🤝IPO Lead Managers / Merchant Bankers
The IPO is managed by top investment banks:
- Kotak Mahindra Capital Company
- Morgan Stanley India
- Axis Capital
- Goldman Sachs (India) (The Economic Times)
🧾 IPO Registrar
The IPO registrar handling share allotment and documentation is typically:
- MUFG Intime India Pvt Ltd (as mentioned in unofficial IPO schedules)
🏆 Anchor Investors
Anchor investor allocations are usually finalized 1–2 days before the IPO opens (i.e., around 6–8 Feb 2026). According to Reuters, anchor bidding opened on 6 Feb 2026.
Exact names of anchor investors and allocations are published once finalized.
📌Peer Comparison
Fractal Analytics isn’t directly compared with typical Indian tech firm IPOs, but in context:
- Its AI services business aligns it with global enterprise tech/AI firms.
- No exact Indian peer with a similar AI focus has listed yet, making this a trailblazer in that sector. (The Economic Times)
❓Frequently Asked Questions (FAQs)
Q1. When can I apply for this IPO?
➡ Retail bidding is open from 9–11 Feb 2026.
Q2. Is Fractal Analytics profitable?
➡ Yes — it posted a profit in FY25 after returning to profitability.
Q3. How do I check if I received an allotment?
➡ Allotment results are usually updated on registrar websites after 12 Feb 2026 and on your broker’s IPO section.
Q4. Will this IPO list on NSE & BSE?
➡ Yes — expected to list on NSE & BSE.
Q5. What are the risks?
➡ Large OFS portion, market volatility, valuation risk, and sector performance can influence post-listing gains.
DISCLAMER
The information shared here is intended solely for educational and general awareness purposes. Any securities, investments, or IPO-related details mentioned should not be interpreted as financial advice or investment recommendations. Readers are encouraged to conduct their own independent research or seek guidance from a qualified financial professional before making investment decisions.
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