Fractal Analytics IPO

Listed Mainboard AI & Data Analytics
Open Feb 09
Close Feb 11
Allotment Feb 12
Refund Feb 13
Listing Feb 16

Market Sentiment

Grey Market Premium What is GMP?
+Rs 0
+0.0%
Est. Listing: Rs 900
Updated: Feb 25, 2026 12:00 am
View Full GMP History →
Subscription Status
QIB
5.95x
bNII (>10L)
9.98x
sNII (2-10L)
4.85x
Retail
4.09x
Total
5.52x
Updated: Mar 02, 2026 11:15 pm IST
Analysis Score 48 / 100
Neutral
Data: 100%
GMP Score 40
Subscription Score 65
Valuation Score 10
Financial Health 80

Market Lot Size

Category Lots Shares Amount (₹)
Retail Minimum 1 16 ₹14,000
Retail Maximum 13 208 ₹1,87,200
S-HNI Minimum 14 224 ₹2,01,600
S-HNI Maximum 69 1,104 ₹9,93,600
B-HNI Minimum 70 1,120 ₹10,08,000

IPO Details

Issue Price₹857-900 per equity share
Face Value₹1 Per Equity Share
Lot Size 16 shares (Min ₹14,400)
Total Issue Size ₹2,834.00 crore
Fresh Share₹1,023.50 crore
Offer For Sale₹1,810.50 crore
Issue TypeBook Build Issue
Lead ManagerKotak Mahindra Capital Co.Ltd., Axial Capital Pvt.Ltd.
RegistrarMUFG Intime India Pvt.Ltd.
Listing atBoth
BSE Code544700
NSE SymbolFRACTAL
ISININE212S01015
Listing Price₹876.00
Listing Gain-2.67%

IPO Reservation

Category Shares Offered
QIB91,94,187
NII (HNI)46,12,737
bNII > ₹10L30,75,158
sNII < ₹10L15,37,579
Retail7,36,196
Anchor1,38,69,499

Financial Analysis

Financial Data
EPS (Pre)
Rs 12.50
EPS (Post)
Rs 10.80
P/E (Pre)
72.00x
P/E (Post)
83.33x
Industry P/E
55.00x
ROE
20.50%
ROCE
24.60%
Debt/Equity
0.08
NAV/Share
Rs 104.00
Market Cap
Rs 18,500 Cr
Revenue Growth
22.00%
Profit Margin
15.80%
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
Values in Crores (₹)
Peer Comparison
Company P/E EPS Market Cap (Cr)
Tata Elxsi 62.00 55.80 42,000
Happiest Minds 48.00 12.50 12,000
Mphasis 32.00 85.00 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%

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.

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
Anchor Bidding Date
February 06, 2026
Shares Offered to Anchors
1,38,69,499
Lock-in End (30 Days, 50%)
March 14, 2026
Lock-in End (90 Days, 50%)
May 13, 2026
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

Frequently Asked Questions

Fractal Analytics IPO is Mainboard IPO. The company is going to raise ₹2,833.9 Crores via IPO. The issue is priced at ₹857 to ₹900 per equity share. The IPO is to be listed on BSE & NSE.

The IPO is to open on February 9, 2026 for QIB, NII, and Retail Investors. The IPO will close on February 11, 2026.

The investors’ portion for QIB is 75%, NII is 15%, and Retail is 10%.

You can apply for Fractal Analytics IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.

Fractal Analytics IPO issue size is ₹2,833.9 crores.

Fractal Analytics IPO Price Band is ₹857 to ₹900.

The minimum bid is 16 Shares with ₹14,000 amount.

Fractal Analytics IPO allotment date is February 12, 2026.

Fractal Analytics IPO listing date is February 16, 2026. The IPO is to list on BSE & NSE.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.

How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.

Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.

Factors that influence GMP:

  • Subscription levels — Higher subscription typically drives GMP up
  • Market conditions — Bullish markets tend to boost GMP across all IPOs
  • Company fundamentals — Strong financials and growth potential attract premium
  • Industry sentiment — Positive outlook for the sector can increase demand
  • IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP

Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.

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