Minimum Investment
About Company
Company Name: Fractal Analytics Limited
Industry / Sector: AI & Analytics / Enterprise AI Solutions
Founded Year: 2000
Promoters: Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal, Rupa Krishnan Agrawal
Fractal Analytics Limited is a global enterprise AI and analytics firm founded in March 2000. It supports major companies in intelligent decision-making through AI services and products via its agentic AI platform Cogentiq (Fractal.ai) and standalone AI businesses (Fractal Alpha) for growth markets. It blends technical expertise with domain and functional knowledge to deliver AI solutions across industries and functions. Key clients include Citibank, Costco, Franklin Templeton, Mars, Mondelez, Nationwide, Nestle, Philips. It has a strong focus on innovation, long-term client partnerships, and talent nurturing.
IPO Basic Details
| Company Name | Fractal Analytics Limited |
| IPO Type | Mainboard IPO |
| Price Band | ₹857 – ₹900 |
| Lot Size | 16 |
| Total Issue Size | ₹2,834 Cr (3,15,23,948 shares approx; up to 3,15,57,305 incl. employee reservation) |
IPO Strengths & Risks
Strengths
- Leading player in fast-growing AI market
- Long-term partnerships with top global clients
- Diversified revenue base
- Deep integrated technical, domain & functional expertise
- Track record of innovation & client investment
- Culture of trust, transparency & talent focus
- Experienced founders-led management with long-term vision
Risks
- Inconsistency in bottom lines despite top-line growth
- High valuation & AI sector volatility
- Dependence on key clients & geographies
- Competition from global AI players
- Execution risks in R&D, acquisitions & expansion
IPO Important Dates
| IPO Open Date | 09 Feb 2026 |
| IPO Close Date | 11 Feb 2026 |
| Basis of Allotment | 12 Feb 2026 |
| Refund Initiation | 13 Feb 2026 |
| Demat Credit Date | 13 Feb 2026 |
| Listing Date | 16 Feb 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | 11 Feb 2026 (5:00 PM) |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – -
Investor Reservation
| QIB Quota | 73.25% (2,31,15,833 shares; Anchor 43.95% / 1,38,69,499 shares; ex-anchor 29.30%) |
| Retail Quota | 9.77% (30,82,110 shares) |
| HNI Quota | 14.65% (46,23,166 shares; bNII 9.77%, sNII 4.88%) |
| Employee Quota | 2.33% (7,36,196 shares; discount ₹85 per share) |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 lot | 16 | ₹14,400 |
| Retail Maximum | 13 lots | 208 | ₹1,87,200 |
| S-HNI Minimum | 14 lots | 224 | ₹2,01,600 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 70 lots | 1,120 | ₹10,08,000 |
Key Performance Indicators (KPI)
| ROE | 3.6% (Sep 2025) / 12.6% (Mar 2025) |
| ROCE | N/A |
| RoNW | 3.6% (Sep 2025) / 12.6% (Mar 2025) |
| PAT Margin | 4.50% (Sep 2025) / 8.00% (Mar 2025) |
| EBITDA Margin | 11.90% (Sep 2025) / 14.40% (Mar 2025) |
| EPS | ₹13.74 (pre-IPO) / ₹8.25 (post-IPO) |
| NAV per share | N/A |
| Debt to Equity | Moderate (borrowings ₹274.60 Cr as Sep 2025) |
| P/E Ratio | 65.5x (pre-IPO) / 109.12x (post-IPO) |
| Industry P/E | High-growth AI/tech peers 50–150x+ |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹2,248.70 Cr | ₹2,043.70 Cr | ₹194.40 Cr | ₹436.80 Cr | ₹1,339.20 Cr | ₹325.60 Cr |
| 31 Mar 2024 | ₹2,392.00 Cr | ₹2,241.90 Cr | ₹-54.70 Cr | ₹97.20 Cr | ₹1,397.00 Cr | ₹250.10 Cr |
| 31 Mar 2025 | ₹2,857.60 Cr | ₹2,816.20 Cr | ₹220.60 Cr | ₹398.00 Cr | ₹1,748.30 Cr | ₹266.20 Cr |
| 30 Sep 2025 | ₹2,965.40 Cr | ₹1,594.30 Cr | ₹70.90 Cr | ₹185.60 Cr | ₹1,957.50 Cr | ₹274.60 Cr |
Grey Market Premium
| GMP Price | ₹5 – ₹98 (~0.55–10.89%) pre-listing (varied reports; peaked higher early, settled lower) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Feb 2026 |
| Estimated Listing Price | ₹905–998 (actual listed at ₹876 on NSE, -2.67% to -3% discount; muted debut) |
IPO Subscription Data
| Total Subscription | 2.81x (final; fully subscribed on close) |
| QIB (Ex Anchor) | 4.41x (Day 3) |
| HNI Subscription | 1.11x (bNII 1.24x, sNII 0.86x) |
| Retail Subscription | 1.10x |
| Anchor | - |
IPO Intermediaries
Registrar: MUFG Intime India Private Limited
Registrar Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Manager(s)
Company Information
Address: Level 7, Commerz II,International Business Park, Oberoi Garden City Off W. E. Highway, Goregaon (E),Mumbai, Maharashtra, 400063
Website: https://fractal.ai
Email: investorrelations@fractal.ai
Phone: +91 22 6850 5800
IPO Documents
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