The IPO is being closely watched as it marks India’s first pure-play AI company to tap the public markets, drawing strong investor interest amid growing enthusiasm for AI-driven businesses.
The issue comprises a fresh issue of Rs 1,023.50 crore, aimed at funding growth initiatives and innovation, along with an offer-for-sale (OFS) of Rs 1,810.40 crore by existing shareholders. The price band has been fixed at Rs 857–900 per share.
The IPO will remain open for subscription from February 9 to February 11, with the allotment expected to be finalised on February 12, 2026. Once listed, Fractal Analytics shares will debut on both the BSE and NSE, tentatively on February 16.
This IPO not only gives investors a chance to participate in India’s AI growth story but also positions Fractal Analytics at the forefront of the country’s technology investment landscape.
Fractal Analytics IPO GMP today
As of February 6, Fractal Analytics’ IPO has a GMP of 7% (Rs 63) at the upper price band of Rs 900, indicating an estimated listing price of around Rs 963.
Fractal Analytics: Driving data-driven decisions worldwide
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics has grown over two decades into a global AI and decision intelligence company. It delivers end-to-end analytics, artificial intelligence, and data-driven decision-making solutions to large enterprises across industries.
Fractal serves some of the world’s leading technology and consumer companies, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta, and Tesla. Over 65% of its revenue comes from the U.S., with operations in New York and Mumbai.The company intends to use proceeds from its fresh issue to bolster global operations. This includes funding its U.S. subsidiary, Fractal USA, for repayment or prepayment of borrowings, investing in employee infrastructure such as laptops, and expanding office space in India. Part of the capital will also support scaling its AI and GenAI product portfolio and funding acquisitions to drive inorganic growth.
Fractal is backed by prominent global investors, including TPG, Apax Partners, and Gaja Capital, having raised over $800 million to date. The company has steadily expanded its AI software suite and R&D capabilities, positioning itself as a full-stack AI provider for sectors such as consumer goods, retail, telecom, healthcare, and financial services.
Financially, Fractal has posted a marked improvement. For the year ended March 2025, revenue reached Rs 2,816 crore, up nearly 26% from the prior year. Profit after tax turned positive at Rs 220 crore, compared with a loss of Rs 54 crore in FY24, driven by stronger margins and operating leverage. EBITDA margin rose to 17.4% from 10.6% a year earlier.
The IPO comes at a time of accelerating global investment in AI and digital infrastructure. India is emerging as a key market, with major technology firms committing billions to AI data centres and cloud infrastructure.
Kotak Mahindra Capital, Morgan Stanley India, Axis Capital, and Goldman Sachs (India) Securities are acting as book-running lead managers for the offering. With dates now announced, Fractal’s listing is expected to gauge public market appetite for AI-focused companies in India.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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