Fractal Analytics, a pioneer in decision intelligence and enterprise AI, has finalized its IPO schedule. The bidding for the general public will open on Monday, February 9, 2026, and conclude on Wednesday, February 11. For institutional investors, the Anchor Bidding window will open this Friday, February 6.
The IPO is a mix of a fresh issue worth ₹1,023.5 crore and an Offer for Sale (OFS) of ₹1,810.4 crore by existing shareholders. The price band is set at ₹857 to ₹900 per equity share. Retail investors can bid for a minimum of 1 lot (16 shares), requiring an investment of ₹14,400 at the upper end of the price band.
The company intends to use the fresh capital to de-leverage its US subsidiary (Fractal USA), fund the purchase of laptops and infrastructure, expand its office footprint in India, and aggressively invest in R&D and marketing under its "Fractal Alpha" incubator wing.
Key IPO Details & Timetable
| Feature | Details |
|---|---|
| Price Band | ₹857 – ₹900 per share |
| Lot Size | 16 Shares (Min. Investment ₹14,400) |
| Total Issue Size | ₹2,833.90 Crore |
| Listing Platform | NSE & BSE (Mainboard) |
| Anchor Bidding | February 6, 2026 (Friday) |
| Open Date | February 9, 2026 (Monday) |
| Close Date | February 11, 2026 |
| Basis of Allotment | February 12, 2026 |
| Tentative Listing | February 16, 2026 |
Important Note for Investors
Today's Status (Feb 4): The company officially released its public advertisement and RHP (Red Herring Prospectus) today. Brokers have started updating their portals, but active bidding is not yet open.
Financial Turnaround: Fractal reported a sharp recovery in FY25, swinging from a loss of ₹5.47 crore in FY24 to a Profit After Tax (PAT) of ₹22.06 crore. Revenue grew by nearly 26% year-on-year to reach ₹2,816 crore.
Pure-Play AI Moat: Unlike traditional IT firms, Fractal focuses specifically on the intersection of data science and decision-making. Over 65% of its revenue is generated in the US, providing a natural hedge against rupee fluctuations.
Valuation & Peer Review: At a valuation of ~$1.85 billion, the company is priced at a P/E ratio of roughly 67x (based on FY25 earnings). While this is high compared to traditional IT service giants, it is considered competitive for a high-growth AI software and services firm.
Grey Market Premium (GMP): Early signals from the grey market are positive, with informal quotes suggesting a healthy interest, though official GMP tracking will gain momentum once anchor bidding concludes this Friday.
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