Minimum Investment
About Company
Company Name: Fractal Industries Limited
Industry / Sector: Garment Manufacturing & Supply Chain / Apparel for E-commerce
Founded Year: Not specified (operations prior to 2023 based on financials)
Promoters: Mr. Pankaj Bishwanath Agrawal, Mrs. Priti Pankaj Agrawal
Fractal Industries Limited is a full-service garment manufacturing and supply chain company. It designs, sources, and manufactures garments, and provides end-to-end warehousing and logistics services to e-commerce platforms like Myntra, Ajio, and Flipkart. The company operates across India with a manufacturing facility in Mumbai (monthly capacity over 3,00,000 garments) and warehouses in Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka. It offers services including product & order management, inventory & return handling, integrated logistics, data analytics, multi-channel sales support, and order anomaly detection. Business models include outright sale of garments, PPMP (Pure Play Marketplace), and direct sale via own brand '7ate9' (launched May 2025). As of Sep 30, 2025, it had strong reverse logistics expertise.
IPO Basic Details
| Company Name | Fractal Industries Limited |
| IPO Type | SME IPO |
| Price Band | ₹205 – ₹216 |
| Lot Size | 600 |
| Total Issue Size | ₹49 Cr (22,68,600 shares) |
IPO Strengths & Risks
Strengths
- Experienced promoters & senior management
- Technologically advanced Warehouse Management System (WMS)
- Expertise in apparel reverse logistics
- Quality control & inspection capabilities
- Strong e-commerce partnerships (Myntra, Ajio, Flipkart)
Risks
- Inconsistency in top & bottom lines historically
- Quantum jump in profitability appears inflated
- Aggressively priced based on recent data
- Small post-IPO equity base & longer gestation
- Dependence on e-commerce platforms & fashion trends
IPO Important Dates
| IPO Open Date | 16 Feb 2026 |
| IPO Close Date | 18 Feb 2026 |
| Basis of Allotment | 19 Feb 2026 |
| Refund Initiation | 20 Feb 2026 |
| Demat Credit Date | 20 Feb 2026 |
| Listing Date | 24 Feb 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | 18 Feb 2026 |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – ₹7.35 Cr
Investor Reservation
| QIB Quota | 47.42% (10,75,800 shares; Anchor 28.43% / 6,45,000 shares) |
| Retail Quota | 33.27% (7,54,800 shares) |
| HNI Quota | 14.28% (3,24,000 shares; bNII 9.52%, sNII 4.76%) |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 lots | 1200 | ₹2,59,200 |
| Retail Maximum | 2 lots | 1200 | ₹2,59,200 |
| S-HNI Minimum | 3 lots | 1800 | ₹3,88,800 |
| S-HNI Maximum | - | - | - |
| B-HNI Minimum | 8 lots | 4800 | ₹10,36,800 |
Key Performance Indicators (KPI)
| ROE | 34.52% (Sep 2025) |
| ROCE | 18.99% (Sep 2025) |
| RoNW | 28.74% (Sep 2025) |
| PAT Margin | 14.34% (Sep 2025) |
| EBITDA Margin | 19.63% (Sep 2025) |
| EPS | ₹13.51 (pre-IPO) / ₹17.28 (post-IPO) |
| NAV per share | N/A |
| Debt to Equity | 1.04 (Sep 2025) |
| P/E Ratio | 15.99x (pre-IPO) / 12.5x (post-IPO) |
| Industry P/E | 15–30x (garment manufacturing/supply chain) |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| 31 Mar 2023 | ₹41.21 Cr | ₹88.91 Cr | ₹2.66 Cr | ₹4.13 Cr | N/A | N/A |
| 31 Mar 2024 | ₹42.27 Cr | ₹50.01 Cr | ₹2.27 Cr | ₹4.05 Cr | N/A | N/A |
| 31 Mar 2025 | ₹51.42 Cr | ₹85.51 Cr | ₹7.54 Cr | ₹11.15 Cr | ₹15.70 Cr | ₹27.61 Cr |
| 30 Sep 2025 | ₹62.03 Cr | ₹47.33 Cr | ₹6.78 Cr | ₹9.29 Cr | ₹23.59 Cr | ₹24.63 Cr |
Grey Market Premium
| GMP Price | Modest / limited (pre-listing ~2% indicative) |
| Kostak Rate | N/A |
| Subject to Sauda | N/A |
| Last Updated | Feb 2026 |
| Estimated Listing Price | ₹229 (actual listed at ₹229, +6.02% premium; high ₹229, low ₹217.55, closed ₹217.55) |
IPO Subscription Data
| Total Subscription | 5.44x (final) |
| QIB (Ex Anchor) | 5.95x |
| HNI Subscription | 7.91x (bNII 9.45x, sNII 4.85x) |
| Retail Subscription | 4.09x |
| Anchor | - |
IPO Intermediaries
Registrar: Kfin Technologies Ltd.
Registrar Website: https://kosmic.kfintech.com/ipostatus
IPO Lead Manager(s)
Company Information
Address: Gala 212, Bhullar Star Indl. Estate,Andheri Kurla Andheri East,Mumbai, Maharashtra, 400072
Website: https://fractalindustries.in/
Email: investors@fractalindustries.in
Phone: +91 22-2852 8352
IPO Documents
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