- Price Band fixed at ₹ 857 per equity share of face value ₹1 each to ₹ 900 per equity share of the face value of ₹1 each
- Anchor Investor Bidding Date – Friday, February 06, 2026
- Bid /Offer Opening Date – Monday, February 09, 2026, and Bid/ Offer Closing Date –Wednesday, February 11, 2026
- Bids can be made for a minimum of 16 Equity Shares and in multiples of 16 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, FEB 6
Mumbai headquarered Fractal Analytics Limited, an artificial intelligence solutions provider, on Thursday announced it proposes to open an initial public offering of its equity shares of face value of ₹1 each on Monday, February 09, 2026. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Friday, February 06, 2026. The Bid/ Offer Closing Date is Wednesday, February 11, 2026.
The Price Band of the Offer has been fixed from ₹ 857 per Equity Share of face value ₹ 1 each to ₹ 900 per Equity Share of face value ₹ 1 each. Bids can be made for a minimum of 16 Equity Shares of face value ₹ 1 each and multiples of 16 Equity Shares of face value ₹ 1 each thereafter.
The initial public offering by the Company comprises a fresh issue of equity shares aggregating up to ₹10,235 million (the “Fresh Issue”) and an Offer for Sale of equity shares aggregating up to ₹18,104 million (the “Offer for Sale”, and together with the Fresh Issue, the “Offer”).
Breaking it down, at the upper end of the band, the company is valued at around ₹15,500 crore.
The Offer for Sale is being undertaken by existing shareholders, including Quinag Bidco Ltd, TPG Fett Holdings Pte. Ltd., Satya Kumari Remala and Rao Venkateswara Remala, and GLM Family Trust (collectively, the “Selling Shareholders”). The Offer comprises an Employee Reservation Portion aggregating up to ₹600 million for subscription by eligible employees.
The company is backed by global private equity investors including TPG, Apax, and Gaja.
Talking of the fund utilisation, the money raised through the fresh issue will largely be used to support Fractal’s growth plans.
Furthermore, the company plans to invest in its US subsidiary, Fractal USA, mainly to repay or prepay borrowings.
Other uses include setting up new offices in India, purchasing laptops and technology infrastructure, increasing spending on research and development, strengthening sales and marketing under its Fractal Alpha platform, funding future acquisitions, and meeting general corporate needs.
The company was founded in the year 2000 by Srikanth Velamakanni and Pranay Agrawal. The company works with large global companies to help them make sense of data.
It provides end-to-end artificial intelligence and analytics solutions. This help businesses improve decision-making, customer engagement, and operational efficiency.
Furthermore, the company serves clients across sectors such as consumer goods, retail, banking, financial services and insurance, healthcare, life sciences, technology, media and telecom.
As per the IPO reservation structure, qualified institutional buyers (QIBs) will be allocated not less than 75 per cent of the net offer. Retail investors will get up to 10 per cent, while NIIs will be allocated up to 15 per cent of the issue.
For the half year ended September 2025, the company reported total income of ₹1,594.3 crore and a profit after tax of ₹70.9 crore. In FY25, income came in at ₹2,816.2 crore, with PAT of ₹220.6 crore, compared with a loss of ₹ 54.7 crore in FY24 and a profit of ₹194.4 crore in FY23.
Operating performance also moderated in the latest period, with EBITDA at ₹185.6 crore for the six months ended September 2025, versus ₹ 398 crore in FY25. Net worth increased to ₹ 1,957.5 crore as of September 2025 from ₹ 1,748.3 crore at the end of FY25, while total borrowings stood at ₹ 274.6 crore.
Answering a query on its R&D and talent pool, Srikant Velamakanni, Whole-Time Director, Group CEO and Executive Vice-Chairman, said, “Talent is central to the company’s moat. It handpicks highly skilled IIT graduates, who work passionately on AI research. Last year, we had spent 5.2 percent of our revenue in R&D and this year, we have so far spent 6.1 percent of our revenue to stay ahead in fast-evolving AI.”
The Equity Shares of the Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, and Goldman Sachs (India) Securities Private Limited are the Book Running Lead Managers (BRLMs) to the Offer.
