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Fractal Analytics IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Fractal Analytics Limited is a global artificial intelligence and advanced analytics company that helps enterprises make data-driven decisions. The company earns revenue by providing AI-powered analytics, data engineering, and decision science solutions. Its services are mainly used by large enterprises in retail, BFSI, healthcare, and technology sectors to improve customer experience, risk management, and operational efficiency.
Fractal Analytics, an Book Built Issue, amounting to ₹
2833.90 Crore,consisting an fresh issue of
1.14 crore shares aggregating to ₹
1023.50 crores and offer for sale of
2.01 crore shares aggregating to ₹
1810.40 crores.The subscription period for the Fractal Analytics IPO opens on February 09, 2026, and closes on February 11, 2026. The allotment is expected to be finalized on or about 12 February 2026, Monday., and the shares will be listed on the BSE & NSE with a tentative listing date set on or about Monday, February 16, 2026.
The Share Price Band of Fractal Analytics IPO is set at ₹857 to ₹900 per share per equity share. The Market Capitalisation of the Fractal Analytics at IPO price of ₹900 per equity share will be ₹
15473.60 Crores. The lot size of the IPO is 16 shares. Retail investors are required to invest a minimum of ₹
14,400, 1 lots (16 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
14 lots (224 shares), amounting to ₹
201,600.
Axis Capital Limited, Goldman Sachs (India) Securities Private Limited,Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, are the book running lead manager of the Fractal Analytics Ltd. while MUFG Intime India Private Limited is the registrar for the issue.
Fractal Analytics Limited IPO GMP Today
The Grey Market Premium of Fractal Analytics IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Fractal Analytics Limited IPO Live Subscription Status Today: Real-Time Update
The subscription period for the Fractal Analytics IPO opens on February 09, 2026
Fractal Analytics Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Fractal Analytics IPO allotment date is 12 February 2026, Monday, Fractal Analytics IPO Allotment will be out on 12 February 2026, Monday, and will be live on Registrar Website from the allotment date.
MUFG Intime India Private Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Fractal Analytics IPO from the dropdown list of IPO
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Fractal Analytics Limited IPO
Fractal Analytics to utilise the Net Proceeds towards the following objects:
1. ₹2,649 Million is required for Investment in one of our Subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings
2. ₹571 Million is required for Purchase of laptops
3. ₹1,211 Million is required for Setting-up new office premises in India
4 ₹3,551 Million is required for Investment in (a) research and development; and (b) sales and marketing under Fractal Alpha
5. General Corporate Purposes.
Refer to Fractal Analytics Limited RHP for more details about the Company.
Fractal Analytics Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| February 04, 2026 | ₹ 900 | ₹ 900 | ₹0(0.0%) | 04 February 2026; 05:35 PM |
Fractal Analytics IPO Details
| Market Capitalization | ₹15,473.60 Cr |
| IPO Date | February 09, 2026 to February 11, 2026 |
| Listing Date | February 16, 2026 |
| Face Value | ₹1 Per Share |
| Price Band | ₹857 to ₹900 per share |
| Issue Price | ₹900 per share |
| Employee Discount | NA |
| Lot Size | 16 Equity Shares |
| Total Issue Size | 3,14,87,778 Equity Shares (aggregating to ₹2833.90 Cr) |
| Fresh Issue | 1,13,72,222 Equity Shares (aggregating to ₹1023.50 Cr) |
| Offer for Sale | 2,01,15,555 Equity Shares (aggregating to ₹1810.40 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE & NSE |
| Share holding pre issue | 160,556,718 |
| Share holding post issue | 17,19,28,940 |
| Rating | Avoid |
Fractal Analytics IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Fractal Analytics IPO Timeline (Tentative Schedule)
| IPO Open Date | Mon, Feb 9, 2026 |
| IPO Close Date | Wed, Feb 11, 2026 |
| Basis of Allotment | Thu, Feb 12, 2026 |
| Initiation of Refunds | Fri, Feb 13, 2026 |
| Credit of Shares to Demat | Fri, Feb 13, 2026 |
| Listing Date | Mon, Feb 16, 2026 |
| Cut-off time for UPI mandate confirmation | Thu, Feb 12, 2026 |
Fractal Analytics IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 23,615,833 | Not less than 75% of the Net Offer |
| Non-Institutional Investor Portion | 4,723,167 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 3,148,778 | Not more than 10% of the Net Offer |
Fractal Analytics IPO Promoter Holding
| Share Holding Pre Issue | 18.16% |
| Share Holding Post Issue | 16.98% |
Fractal Analytics IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,400 |
| Retail (Max) | 13 | 208 | ₹187,200 |
| S-HNI (Min) | 14 | 224 | ₹201,600 |
| S-HNI (Max) | 69 | 1,104 | ₹993,600 |
| B-HNI (Min) | 70 | 1,120 | ₹1,008,000 |
Fractal Analytics IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 23,615,833 | - | 0.00x | 04 February 2026; 05:35 PM |
| Non Institutional Investors(NIIS) | 4,723,167 | - | 0.00x | 04 February 2026; 05:36 PM |
| Retail Individual Investors (RIIs) | 3,148,778 | - | 0.00x | 04 February 2026; 05:36 PM |
| Total | 31,487,778 | - | 0.00x | 04 February 2026; 05:36 PM |
About Fractal Analytics Limited
Fractal Analytics Limited is a global artificial intelligence and advanced analytics company that helps enterprises make data-driven decisions. The company earns revenue by providing AI-powered analytics, data engineering, and decision science solutions. Its services are mainly used by large enterprises in retail, BFSI, healthcare, and technology sectors to improve customer experience, risk management, and operational efficiency.
Key Clients and Manufacturing / Delivery Facilities
Fractal’s key clients include Fortune 500 companies across retail, consumer goods, banking, insurance, healthcare, and technology sectors. The company operates through delivery centres in India, the United States, the United Kingdom, and Singapore. Its India delivery facilities act as core analytics hubs, supporting global clients through scalable data science, AI model development, and digital transformation services.
Product Portfolio, Order Book and Execution
Fractal’s product portfolio includes AI platforms, analytics solutions, and decision intelligence tools such as customer analytics, pricing optimisation, and risk analytics. These products sit across the growth and maturity stages of client product life cycles. The company follows a project-based and long-term engagement model, ensuring high execution visibility and repeat business through multi-year contracts.
Mergers, Capex and Expansion Plans
Fractal has grown through strategic acquisitions to enhance AI capabilities and expand global reach. The company plans future capital expenditure towards technology infrastructure, AI platforms, and international expansion. Growth initiatives focus on strengthening proprietary platforms, expanding presence in developed markets, and scaling high-margin analytics offerings through both organic growth and selective acquisitions.
Employees and Banker Details Sep 30, 2025, the company had 1074, full time employees. The Banker to the Company is Citibank,
Management and Vision
The management team of Fractal Analytics comprises experienced professionals with deep expertise in analytics, artificial intelligence, and enterprise consulting. Their near-term vision focuses on scaling AI-led decision platforms and increasing wallet share from existing clients. Long-term targets include becoming a global leader in enterprise AI solutions. Funding for capex and expansion will be arranged through internal accruals, strategic investments, and proceeds from the IPO.
Industry Overview
Fractal operates in the global artificial intelligence and advanced analytics industry. The global AI market is valued at over USD 150 billion and is expected to grow at a CAGR of more than 20% over the next five years. The Indian analytics and AI services market is estimated at USD 5–6 billion, growing at 20–25% annually. Global leaders include Accenture, IBM, and Palantir, while India is emerging as a key analytics delivery hub.
Key Risk Factors
- Client Concentration Risk
A significant portion of revenue is derived from large enterprise clients. Loss of any major client or reduction in spending could materially impact revenues and profitability. - Talent Retention Risk
The business depends heavily on skilled data scientists and engineers. High attrition or inability to attract talent may affect service quality and project execution. - Technology Obsolescence Risk
Rapid changes in AI and analytics technologies require continuous investment. Failure to upgrade platforms could reduce competitiveness. - Currency Fluctuation Risk
A large share of revenue is earned in foreign currencies. Adverse exchange rate movements can impact financial performance. - Regulatory and Data Privacy Risk
The company operates across multiple jurisdictions. Changes in data protection or AI regulations could increase compliance costs. - Integration Risk from Acquisitions
Past and future acquisitions may face integration challenges, affecting operational efficiency and expected synergies.
Key Strengths, Moat and Opportunities
- Strong Global Client Base
Fractal serves several Fortune 500 companies, providing stable revenues and long-term engagement visibility. - Deep AI and Analytics Expertise
The company’s strong focus on AI-driven decision intelligence creates a competitive moat in high-value analytics services. - Proprietary Platforms and IP
Fractal’s investment in proprietary AI platforms enhances margins and differentiates offerings from pure service providers. - Scalable Delivery Model
Its India-based delivery centres allow cost-efficient scaling while serving global clients. - Growing Demand for AI Solutions
Increasing enterprise adoption of AI presents significant growth opportunities across industries. - Experienced Management Team
Strong leadership with a proven execution track record supports long-term growth and value creation.
Fractal Analytics Limited Financial Information (Restated Consolidated)
Amount in (₹ in Million)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 19,584.00 | 17,501.00 | 14,026.00 | 13,400.00 |
| Total Assets | 29,654.00 | 28,576.00 | 23,920.00 | 22,487.00 |
| Total Borrowings | 2,746.00 | 2,662.00 | 2,501.00 | 3,256.00 |
| Fixed Assets | 649.00 | 316.00 | 227.00 | 412.00 |
| Cash | 1,102.00 | 2,649.00 | 812.00 | 2,132.00 |
| Cash flow from operating activities | -214.00 | 3,970.00 | 1,595.00 | -306.00 |
| Cash flows from investing activities | -2,021.00 | -1,810.00 | -1,501.00 | 1,249.00 |
| Cash flow from financing activities | 593.00 | -224.00 | -1,450.00 | -574.00 |
| Net Borrowing | 1,644.00 | 13.00 | 1,689.00 | 1,124.00 |
| Revenue | 15,943.00 | 28,162.00 | 22,419.00 | 20,437.00 |
| EBITDA | 1,856.00 | 3,980.00 | 972.00 | 4,368.00 |
| PAT | 709.00 | 2,206.00 | -547.00 | 1,944.00 |
| PAT Margin | 4.45% | 7.83% | -2.44% | 9.51% |
| EPS | 4.09 | 13.36 | -3.12 | 12.42 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 13.36 |
| EPS Post IPO (Rs.) | 12.83 |
| Adjusted 12M EPS Post IPO (Rs.) | 8.25 |
| P/E Pre IPO | 67.37 |
| P/E Post IPO | 70.14 |
| Adjusted 12M P/E Post IPO | 109.12 |
| ROE | 12.60% |
| ROCE | - |
| P/BV | 8.65 |
| Debt/Equity | 0.08 |
| RoNW | 12.60% |
| EBITDA Margin | 14.40% |
| PAT Margin | 7.83% |
Fractal Analytics Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| There are no listed peers which are in the same line of business as per RHP. | - | - | - | - | - | - | - |
Fractal Analytics Limited Contact Details
Fractal Analytics Limited
Phone: +91 22 6850 5800
Email: investorrelations@fractal.ai
Website: http://www.fractal.ai/
Fractal Analytics IPO Registrar and Lead Manager(s)
- Kotak Mahindra Capital Co.Ltd.
- Axis Capital Ltd.
- Morgan Stanley India Company Private Limited
- Goldman Sachs (India) Securities Private Limited
Fractal Analytics IPO Review
Fractal Analytics Limited is a global artificial intelligence and advanced analytics company that helps enterprises make data-driven decisions. The company earns revenue by providing AI-powered analytics, data engineering, and decision science solutions. Its services are mainly used by large enterprises in retail, BFSI, healthcare, and technology sectors to improve customer experience, risk management, and operational efficiency..
The Company is led by Promoter, i.e.,: SRIKANTH VELAMAKANNI, PRANAY AGRAWAL, CHETANA KUMAR, NARENDRA KUMAR AGRAWAL AND RUPA KRISHNAN AGRAWAL
The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 15,943.00 Million, ₹ 28,162.00 Million, ₹ 22,419.00 Million, and ₹ 20,437.00 Million, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,856.00 Million, ₹ 3,980.00 Million, ₹ 972.00 Million, and ₹ 4,368.00 Million, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 709.00 Million, ₹ 2,206.00 Million, ₹ -547.00 Million, and ₹ 1,944.00 Million, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 13.36 and post-issue EPS of ₹ 12.83 for FY25. The pre-issue P/E ratio is 67.37x,while the post-issue P/E ratio is 70.14x against the Industry P/E ratio is NAx The company's ROE for FY25 is 12.60% and RoNW is 12.60% The Annualised EPS is ₹ 8.25x and P/E is ₹ 109.12x, These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Fractal Analytics showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Fractal Analytics Limited. IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
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