The 2026 IPO market is witnessing participation from next-generation technology companies, especially in Artificial Intelligence and advanced analytics. One such major public issue is the Fractal Analytics IPO, which brings exposure to the fast-growing global enterprise AI industry.
This article covers complete IPO details including structure, timeline, valuation, business model, financial performance, and investor view.
Refer to Fractal Analytics IPO RHP for detailed Information.
If you are new to stock market investing, first understand market basics from our pillar guide Stock Market Basics: An Evergreen Beginner’s Guide to Investing.
Fractal Analytics IPO – Key Highlights
| Particular | Details |
|---|---|
| IPO Type | Book Building Issue |
| Total Issue Size | ₹2,833.90 Crore |
| Fresh Issue | ₹1,023.50 Crore |
| Offer For Sale | ₹1,810.40 Crore |
| Listing | BSE, NSE |
| Price Band | ₹857 – ₹900 |
| Face Value | ₹1 Per Share |
| Lot Size | 16 Shares |
| Pre IPO Market Cap | ₹15,473.60 Crore |
IPO Timeline
| Event | Date |
|---|---|
| IPO Open | 9 Feb 2026 |
| IPO Close | 11 Feb 2026 |
| Allotment | 12 Feb 2026 |
| Refund | 13 Feb 2026 |
| Share Credit | 13 Feb 2026 |
| Listing | 16 Feb 2026 |
Issue Structure
| Component | Shares | Amount |
|---|---|---|
| Fresh Issue | 1.14 Crore | ₹1,023.50 Cr |
| Offer For Sale | 2.01 Crore | ₹1,810.40 Cr |
| Total Issue | 3.15 Crore Shares | ₹2,833.90 Cr |
IPO Lot Size & Investment
| Category | Lots | Shares | Amount (Upper Price) |
|---|---|---|---|
| Retail Minimum | 1 | 16 | ₹14,400 |
| Small HNI Minimum | 14 | 224 | ₹2,01,600 |
| Big HNI Minimum | 70 | 1,120 | ₹10,08,000 |
IPO Management Details
| Role | Company |
|---|---|
| Book Running Lead Manager | Kotak Mahindra Capital |
| Registrar | MUFG Intime India Pvt Ltd |
About Fractal Analytics Ltd.
Fractal Analytics is a global Artificial Intelligence and data analytics company founded in 2000. The company focuses on helping large enterprises improve decision-making using AI, data science, and advanced analytics tools.
Business Segments
1️⃣ Fractal.ai
- AI services and AI product development
- Agentic AI platform (Cogentiq)
- Low-code AI development tools
- Enterprise-grade governance and security
2️⃣ Fractal Alpha
- Independent AI growth businesses
- Focus on innovation across sectors
- Global expansion strategy
Client Base Strength
The company works with large global enterprises including:
- Global Banking Institutions
- Consumer Brands
- Healthcare & Industrial Companies
This diversified client base reduces dependency risk.
Competitive Strengths
✔ Strong position in global AI services market
✔ Long-term enterprise client relationships
✔ Deep domain + technical expertise
✔ Innovation-driven product development culture
✔ Founder-led long-term strategic vision
✔ High entry barriers due to technical expertise
Company Financial Performance (₹ Crore)
| Period | Assets | Income | PAT | EBITDA | Net Worth |
|---|---|---|---|---|---|
| Sep 2025 | 2,965.40 | 1,594.30 | 70.90 | 185.60 | 1,957.50 |
| Mar 2025 | 2,857.60 | 2,816.20 | 220.60 | 398.00 | 1,748.30 |
| Mar 2024 | 2,392.00 | 2,241.90 | -54.70 | 97.20 | 1,397.00 |
| Mar 2023 | 2,248.70 | 2,043.70 | 194.40 | 436.80 | 1,339.20 |
Borrowings & Reserves
| Period | Borrowings | Reserves |
|---|---|---|
| Sep 2025 | 274.60 | 1,937.10 |
| Mar 2025 | 266.20 | 1,728.70 |
| Mar 2024 | 250.10 | 1,380.50 |
| Mar 2023 | 325.60 | 1,323.10 |
Key Financial Ratios
| KPI | Sep 2025 | Mar 2025 |
|---|---|---|
| RoNW | 3.6% | 12.6% |
| PAT Margin | 4.5% | 8.0% |
| EBITDA Margin | 11.9% | 14.4% |
| Price to Book | 8.65 | — |
Valuation Metrics
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹13.74 | ₹8.25 |
| P/E Ratio | 65.5x | 109.12x |
| Promoter Holding | 18.19% | — |
Key Growth Drivers
AI Industry Growth
AI adoption across industries is accelerating globally, creating long-term demand for companies like Fractal.
Enterprise Digital Transformation
Large companies are investing heavily in automation and AI-driven analytics.
High Value Global Clients
Long-term contracts improve revenue visibility.
Risk Factors
⚠ High Valuation Compared to Traditional IT Companies
⚠ Dependence on Global Corporate Spending
⚠ Technology Disruption Risk
⚠ Margin Pressure in Competitive AI Market
Investor View (Analytical)
Fractal Analytics provides exposure to the AI and advanced analytics segment, which is expected to grow faster than traditional IT services.
However, valuation appears premium compared to conventional IT and analytics peers, which means listing gains and long-term returns will depend on growth execution.
Final Verdict
The Fractal Analytics IPO is a technology-driven offering aimed at investors who believe in the long-term growth of Artificial Intelligence adoption globally.
Growth potential is strong, but valuation comfort and profitability consistency will be key tracking factors post listing.
Disclaimer
This content is for educational purposes only and does not constitute investment advice. Investors should consult their financial advisor before investing.