Fractal Analytics IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 2,043.70 | 2,241.90 | 2,816.20 | 1,594.30 |
| Expense | 2,225.20 | 2,250.60 | 2,575.50 | 1,446.20 |
| Profit (PAT) | 194.40 | 54.70 | 220.60 | 70.90 |
| Total Assets | 2,248.70 | 2,392.00 | 2,857.60 | 2,965.40 |
Peer Comparison
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Fractal Analytics This IPO | 10.80 | 83.33 | 18,500 |
| Tata Elxsi | 55.80 | 62.00 | 42,000 |
| Happiest Minds | 12.50 | 48.00 | 12,000 |
| Mphasis | 85.00 | 32.00 | 52,000 |
Promoters & Holding Pattern
Promoters: Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 16,05,56,718 | 18.19% |
| Promoter Holding Post Issue | 17,19,28,940 | 55.00% |
Strengths & Risks
- Revenue grew 22% in the latest reported year.
- Solid profit margin — 15.8%.
- Strong return on equity — 21%.
- Low leverage — debt/equity of 0.08.
- Undersubscribed — only 0.57x overall at close.
- Weak institutional (QIB) demand — the QIB portion was only 0.28x subscribed at close.
- Richly valued versus peers — P/E 83.3x vs industry 55.0x.
- Largely an offer for sale — most proceeds go to selling shareholders, not the company.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Fractal Analytics
Founded in March 2000, Fractal Analytics is one of the leading global AI and analytics companies. It helps large businesses make smart decisions. For more than 20 years, it has been creating AI solutions by combining strong technical skills with in-depth knowledge of the business. Fractal business has been divided into 2 main parts: Fractal.ai, which offers AI services and products through its platform Cogentiq, and Fractal Alpha, which includes independent AI businesses to drive innovation across various industries. The company includes a total of 4500 employees across 17 offices worldwide as of early 2025. Strong leadership in the fast-growing AI market, long-term client partnerships, deep technical and domain expertise, a transparent work culture, and a solid record of innovation are some of the major strengths of the company.
Company Contact Information
Fractal Analytics Ltd., Level 7, Commerz II,, International Business Park, Oberoi Garden City, Off W. E. Highway, Goregaon (E),, Mumbai, Maharashtra, 400063
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Investment in one of our Subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings | 264.90 |
| Purchase of laptops | 57.10 |
| Setting-up new office premises in India | 121.10 |
| Investment in (a) research and development; and (b) sales and marketing under Fractal Alpha | 355.10 |
| Funding inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes | - |
Resources & Documents
Anchor Investors
IPO Documents
Draft Red Herring ProspectusFractal Analytics IPO - Quick Take
Fractal Analytics has set a price band of Rs 857–Rs 900 per share for an issue size of Rs 2,834 crore in the ai & data analytics sector. The stock listed with a 2.67% discount versus its issue price on February 16, 2026.
The company operates in the ai & data analytics space.
The issue is promoted by Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal with Kotak Mahindra Capital Co.Ltd., Axial Capital Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards investment in one of our Subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of… (Rs 265 crore) and purchase of laptops (Rs 57 crore).
At the upper end of the price band, the issue is priced at a post-issue P/E of 83.33x — a premium to the industry average of 55.00x. On fundamentals, the company is posting revenue growth of 22.0%, a profit margin of 15.8%, return on equity of 20.5% in its most recent reported period. Listed peers in this segment include Mphasis (P/E 32.00x, market cap Rs 52,000 crore) and Tata Elxsi (P/E 62.00x, market cap Rs 42,000 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Fractal Analytics IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Fractal Analytics GMP history and trend, or learn how grey market premium works and how reliable it is.
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