Fractal Analytics IPO: Date, Issue Size, Price, GMP, Review & Allotment
The Fractal Analytics IPO is scheduled to open on February 9, 2026, and close on February 11, 2026. It is a Mainboard IPO with a total issue size of ₹2,833.9 crore, consisting of a mix of fresh issue and offer for sale as per the RHP. The price band is ₹857 to ₹900 per equity share of face value ₹1 and the market lots are 16 equity shares. The registrar is MUFG Intime India Pvt Ltd.
People are excited about it since it will help drive global digital transformation through powerful analytics and AI technologies. The IPO combines new money with an opportunity to sell, making Fractal a significant participant for investors who want to see AI expand.
IPO Dates
| IPO event | Date |
|---|---|
| IPO Open Date | February 9, 2026 |
| IPO Close Date | February 11, 2026 |
| Basis of Allotment | February 12, 2026 |
| Refunds | February 13, 2026 |
| Credit to Demat Account | February 13, 2026 |
| IPO Listing Date | February 16, 2026 |
| IPO Bidding Cut‑off Time | February 11, 2026 – 5 PM |
IPO Issue Size
| Component | Amount (₹ Crore) |
|---|---|
| Fresh Issue | 1023.5 |
| Offer for Sale | 1810.4 |
| Total | 2833.9 |
Fractal Analytics Limited DRHP and RHP File
| DRHP File | View Now |
| RHP File | View Now |
Market Lot and Retail Allocation
Retail investors get 10% of the net offer, applying in minimum lots based on the yet-to-be-finalized price band, with maximum bids capped at ₹2 lakh exposure. Non-institutional investors (NII) receive up to 15%, while qualified institutional buyers (QIB) claim at least 75%, ensuring broad participation. Allotment uses proportionate basis if oversubscribed, managed by registrar MUFG Intime India Pvt. Ltd.
| Category | Allocation % |
|---|---|
| Retail | 10% |
| NII | ≤15% |
| QIB | ≥75% |
Fractal Analytics GMP and Expected Subscription
Grey market premium for today 05-02-2026 is ₹90(10%). The early buzz suggests strong listing gains given the AI hype and FY25 profitability turnaround. Subscription tracking starts on day one via BSE/NSE, with retail quota at 10% fueling high demand from individual investors. Monitor platforms like Chittorgarh for live GMP updates as the January launch nears.
Review: Apply for AI Exposure
Fractal is the best worldwide AI analytics company, with over 4,500 professionals helping Fortune 500 companies make decisions based on profitability and creativity. There are risks, like having too many clients, but the ₹4,900 crore IPO will help pay off debt, support research and development, and help the company grow. This is great for long-term portfolios. The retail quota is 10%, which means that the best time to buy is in early January 2026.
Anchors and Bankers
Anchor bidding precedes the public open, with top investors expected to lock in amid AI enthusiasm; full list emerges post-RHP. Lead managers—Axis Capital, Goldman Sachs India, Kotak Mahindra Capital, and Morgan Stanley India—lend prestige, handling the massive ₹4,900 crore raise efficiently. Their involvement signals robust institutional backing.
Allotment Details
Basis of allotment is scheduled for February 12, 2026, one day after IPO close on February 11, 2026, followed by refunds and demat credits on February 13, 2026, and listing on February 16, 2026 on BSE and NSE. Check status using PAN or application number on registrar MUFG Intime India Pvt. Ltd. portal, BSE/NSE sites, or your broker’s platform. Promoter shares will follow a standard 90-day lock-in (up to T+90 post-allotment), supporting post-listing price stability.
Check Fractal analytics ltd. IPO allotment: MUFG Intime Pvt. Ltd.
Promoters and Shareholding
Co-founders Srikanth Velamakanni (5.2%) and Pranay Agrawal (4.9%) lead promoters at 18.30% pre-IPO, diluting to ~13-15% post-issue via OFS. Major pre-IPO holders like TPG (27.27%) and Apax (10.93%) bolster credibility without selling in OFS. This structure maintains founder influence while expanding public float.
| Holding | Pre-IPO % | Post-IPO % (Est.) |
|---|---|---|
| Promoters | 18.30 | ~13-15 |
| Public | 81.70 | ~85-87 |
Fractal Analytics Ltd. Company Information
Fractal Analytics Limited stands as a pioneering force in enterprise AI and analytics, founded in March 2000 to empower global businesses with data-driven intelligence. The company specializes in crafting tailored AI solutions that merge cutting-edge technology with deep industry knowledge, enabling Fortune 500 clients to navigate complex decisions in a digital era. Over two decades, it has evolved into a trusted partner for digital transformation across sectors like finance, healthcare, and retail.
Fractal operates through two core divisions that deliver end-to-end AI capabilities. The analytics services arm focuses on bespoke solutions for client-specific challenges, while the platform-based offerings provide scalable subscription models for ongoing AI deployment. This dual structure supports comprehensive services from strategy to execution, serving diverse business functions worldwide.
With 17 offices spanning key markets, Fractal employs over 4,500 professionals who blend technical prowess with domain expertise. This expansive footprint fosters long-term client relationships and rapid innovation delivery, positioning the firm as a leader in the burgeoning AI analytics space. Its culture emphasizes transparency, trust, and founder-driven vision for sustained growth.
Key Strengths
Fractal excels through enduring partnerships with top-tier global enterprises, a proven innovation pipeline, and integrated expertise that outpaces pure tech rivals. The firm’s net revenue retention rate of 121% highlights client loyalty and recurring value creation. These attributes underpin its market leadership amid explosive AI demand.
Fractal Analytics Limited Financial Statements
Revenue climbed 26% to ₹2,765 crore in FY25, with PAT swinging to ₹221 crore profit from prior losses, fueled by analytics services and surging subscriptions. EBITDA hit ₹398 crore (14.4% margin), assets reached ₹2,858 crore, showcasing scalability across 17 global offices. Client wins with Fortune 500 firms underline revenue stickiness at 121% NRR.
| FY | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA (₹ Cr) |
|---|---|---|---|
| 2025 | 2,765 | 221 | 398 |
| 2024 | 2,196 | -55 | 97 |
| 2023 | 1,943 | 194 | 437 |
Valuation and Peers
At ~13.6x FY25 P/E on a $3 billion cap, Fractal trades at a discount to peers like ZS Associates (40-50x) despite 26% growth, reflecting its services model over pure SaaS. EV/Revenue at 3-4x appears reasonable for 15% CAGR, though top-10 clients (53.8%) pose risks. Long-term AI tailwinds favor moderate subscription.
| Metric | Fractal FY25 | Peer Avg |
|---|---|---|
| P/E | 13.6x | 40-50x |
| Growth | 26% | 20-30% |
| Margin | 14.4% | 20%+ |
Company Address and Contact Details
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Address: Level 7, Commerz II, International Business Park, Oberoi Garden City, Off Western Express Highway, Goregaon (E), Mumbai, Maharashtra 400063, India
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Address: Suite 76J, One World Trade Center, New York, NY 10007, USA
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CIN: U72400MH2000PLC125369
- Website: Fractal.ai
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Email: investorrelations@fractal.ai
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Phone: +91 22 6850 5800
Fractal Analytics IPO Registrar: MUFG Intime India Pvt. Ltd. (Contact Details)
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Full Name: MUFG Intime India Pvt. Ltd. (formerly Link Intime India Pvt. Ltd.)
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Website: www.mufgintime.com or www.linkintime.co.in
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Email: fractal.ipo@in.mpms.mufg.com
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Phone: +91 81081 14949
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Helpline: +91 22 4918 6270 or 70467 00000
Mr. Nadim Abbas M G is an Intermediate Chartered Accountant with a strong background in Information Technology. He combines his expertise in IT with a deep understanding of the stock market, making him a valuable resource for both financial and technical insights. With hands-on experience in accounting, IT systems, and stock market analysis, Nadim excels in bridging the gap between finance and technology, offering strategic advice and expert guidance in both domains.
