Fractal Analytics was incorporated on March 28, 2000. The company is a globally recognised enterprise AI firm (source: Everest Report) with 25+ years of expertise, delivering end-to-end AI solutions to large global enterprises. Through its segments Fractal.ai (AI services and products) and Fractal Alpha (AI businesses), it supports clients across CPG & retail, TMT, healthcare, and BFSI, driving AI-led transformation from ideation to adoption
| Bidding Dates |
|---|
| 09 Feb 2026 - 11 Feb 2026 |
| Subscription |
|---|
| 2.66x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,712 | 1 | 13 | 16 | 31.5 M | ₹857 - ₹900 | 16.98 % | ₹26985.0 M - ₹28339.0 M | RHP DOC |
Fractal Analytics IPO SUBSCRIPTION STATUS
11 Feb '26Fractal Analytics IPO overall subscription rate was 2.66 times the total available shares
Fractal Analytics IPO retail subscription rate was 1.03 times in the retail segment
Fractal Analytics IPO non-institutional investor subscription rate was 1.06 times in the non-institutional investor category
Fractal Analytics IPO Qualified Institutional Bidder subscription rate was 4.18 times the available shares for Qualified Institutional Bidder
Fractal Analytics IPO Employees subscription rate was 0.61 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
11 Feb 2026 (Day 3) | 1.03x | 1.06x | 4.18x | 0.61x |
10 Feb 2026 (Day 2) | 0.6x | 0.27x | 0.02x | 0.2x |
09 Feb 2026 (Day 1) | 0.35x | 0.07x | - | 0.13x |
Fractal Analytics FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 1,559.0 | 70.9 | -21.4 | -145.6 | 11.9% |
| H1FY25 | 1,300.7 | 72.9 | 7.9 | -42.8 | 10.1% |
| FY25 | 2,765.4 | 220.6 | 397.0 | 314.2 | 14.4% |
| FY24 | 2,196.3 | -54.7 | 159.5 | 135.0 | 4.4% |
| FY23 | 1,985.4 | 194.4 | -30.6 | -64.5 | 22.0% |
Fractal Analytics IPO SUBSCRIPTION STATUS DETAILS
Fractal Analytics had 31.5 M shares on offer
Fractal Analytics IPO offer price was in the range ₹857 - ₹900
Fractal Analytics IPO minimum Investment was ₹13712
Fractal Analytics IPO issue size was ₹ 26985.0 M - ₹ 28339.0 M
Fractal Analytics had a minimum lot size of 16 Shares per application
Fractal Analytics NUMBER OF SHARES ON OFFER
Fractal Analytics IPO IMPORTANT DATES
| Issue Open Date | 09 Feb 2026 |
| Issue close Date | 11 Feb 2026 |
| Allotment Date | 12 Feb 2026 |
| Refund Date | 13 Feb 2026 |
| Demat Account Credit Date | 13 Feb 2026 |
| Listing Date | 16 Feb 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Fractal Analytics Allotment Status | Exchange/ Registrar |
Fractal Analytics IPO subscription opened on 09 Feb 2026, and closed on 11 Feb 2026
IPO allotment for Fractal Analytics was finalized on Thursday, 12 Feb 2026
IPO listing for Fractal Analytics was on NSE and BSE on Monday, 16 Feb 2026
Fractal Analytics IPO LISTING GAINS
| Issue Price (adjusted) | 900.0 |
| Listing Open Price | 876.0 |
| Listing Close Price | 847.1 |
| Listing Gain% | -2.7% |
| Current Gain% | -9.1% |
Fractal Analytics Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fractal Analytics Ltd. | 817.7 | 14058.6 | 42.8 | 0.9 | 4.1 | 9.2 | 6.6 | 3362.6 | 19.4 | 292.2 | 31 | 19.1 | 47.5 |
| One97 Communications Ltd. | 1441.6 | 92425.7 | 142.2 | 1.2 | 10.3 | 3.4 | 2.3 | 9291 | 21.9 | 553 | 184 | 10.1 | 114.7 |
| PB Fintech Ltd. | 1604.5 | 74239.4 | 99.2 | 1 | 10.1 | 9.2 | 7.7 | 7166.4 | 33.1 | 669.9 | 89.8 | 16.2 | 98.3 |
| Affle 3I Ltd. | 1645.6 | 23183.1 | 48.5 | 2.5 | 8.2 | 12.4 | 10.3 | 2787.6 | 18.1 | 454.9 | 19.1 | 33.9 | 19.2 |
| Pine Labs Ltd. | 154.4 | 17820.2 | 140 | 0.7 | 6.3 | 1.9 | 0.8 | 2847.2 | 22.3 | 112.5 | 177.3 | 1.1 | 212.8 |
| Amagi Media Labs Ltd. | 647 | 13996 | 4.1 | 3 | 1570.1 | 28.4 | 71.7 | 204.3 |
Fractal Analytics INFORMATION ON IPO ISSUE
About Fractal Analytics
Fractal Analytics was incorporated on March 28, 2000. The company is a globally recognised enterprise AI firm (source: Everest Report) with 25+ years of expertise, delivering end-to-end AI solutions to large global enterprises. Through its segments Fractal.ai (AI services and products) and Fractal Alpha (AI businesses), it supports clients across CPG & retail, TMT, healthcare, and BFSI, driving AI-led transformation from ideation to adoption
Object of the Issue
- Investment in one of their subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings
- Purchase of laptops
- Setting up new office premises in India
- Investment in research and development, sales, and marketing under Fractal Alpha
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes
Fractal Analytics - PROMOTERS
| Name |
|---|
| Srikanth Velamakanni |
| Pranay Agrawal |
| Chetana Kumar |
| Narendra Kumar Agrawal |
| Rupa Krishnan Agrawal |
Fractal Analytics - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Rohan Haldea | Chairman & Non-executive Director |
| Srikanth Velamakanni | Whole-time Director & Group Chief Executive & Executive Vice-Chairman |
| Pranay Agrawal | Non-executive Director |
| Sasha Gulu Mirchandani | Non-executive Director |
| Gavin Echlin Patterson | Non-executive Director |
| Vivek Mohan | Non-executive Director |
| Neelam Dhawan | Independent Director |
| Karen Ann Terrell | Independent Director |
| Janaki Akella | Independent Director |
Fractal Analytics Book Running Lead Manager
Kotak Mahindra Capital Company Limited
fractal.ipo@kotak.com
Morgan Stanley India Company Private Limited
fractalipo@morganstanley.com
Axis Capital Limited
fractal.ipo@axiscap.in
Goldman Sachs (India) Securities Private Limited
fractalipo@gs.com
Fractal Analytics Registrar to the Offer
MUFG Intime India Private Limited
fractal.ipo@in.mpms.mufg.com
Fractal Analytics Strengths
Diversified revenue base
The company works with marquee clients such as Citi, Costco, Nestle, Philips, Mars, and Mondelez across CPGR, TMT, HLS, and BFSI. As of March 31, 2025, it served leading global enterprises, with revenues from focus industries growing at a 16.8% CAGR (FY23–25), positioning it to benefit from rising Gen AI adoption
Technical & domain expertise
The company combines strong technical expertise in Gen AI, machine vision, cloud and data engineering with deep domain knowledge across its focus industries. It also supports clients across key business functions, including sales, marketing, supply chain, finance, and AI-driven decision-making
Innovation & investments
The company has a strong track record of innovation, backed by 24 patents and 41 applications, driven by investments in R&D and strategic acquisitions. Its focus on emerging AI trends ensures enterprises are equipped with the latest technologies for competitive advantage
Fractal Analytics Risks
Cybersecurity & data privacy risks
The company is exposed to risks from cyberattacks, hacking, and data breaches that could impact operations, financial performance, and reputation. Data privacy, security threats, and quality concerns remain major challenges for enterprises adopting AI, with 55% of CIOs citing security and privacy risks in Gen AI adoption (Source: Everest Report)
Execution risks
The company’s business relies on the quality and timely implementation of its AI solutions. Delays, errors, or failures in large-scale deployments could lead to cost overruns, client disputes, and loss of business, potentially affecting financial performance
Dependent on open-source technologies
The company relies on open-source technologies, and a lack of continued development by external or internal programmers may hinder innovation, product enhancement, and the ability to meet client needs, adversely impacting business and financial performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,810.4 crore, of 20,115,555 shares. It also consists of a fresh issue of Rs 1,023.5 crore.
The promoters of the company are Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 857.0 - 900.0.
The IPO application opens on Feb 09, 2026 and closes on Feb 11, 2026.
The minimum lot size for the IPO is 16. The maximum lot size for the IPO is 208.
For all category investors, the minimum application amount for this IPO is Rs. 13,712.0, the maximum value for this IPO is Rs 187,200.0.
This IPO will be allotted on Feb 12, 2026.
The refund will be credited to your account on Feb 13, 2026.
The allotted shares will be credited to your demat on Feb 13, 2026.
Fractal Analytics Ltd.’s shares listed on the stock exchanges on Feb 16, 2026.