Fractal Analytics Limited is a global enterprise AI and advanced analytics company that helps large organizations make smarter, data-driven decisions. The company has over 25 years of operating experience and is focused on its vision of powering human decisions by combining data, analytics, artificial intelligence, and behavioral science.
Fractal builds end-to-end AI solutions by integrating deep technical capabilities—including machine learning, Generative AI, and data engineering—with strong domain and functional expertise developed across multiple industries. Its solutions are designed to move beyond insights and directly enable enterprise-wide decision systems.
As of September 30, 2025, Fractal operates through two key business segment:
- Fractal.ai: Fractal.ai is the company’s core AI services and products segment. It delivers enterprise AI solutions through Cogentiq, Fractal’s proprietary agentic AI platform, which enables faster AI adoption using pre-built agents, low-code tools, and integrated governance, security, and interoperability. This segment supports clients across the entire AI lifecycle, from strategy to deployment and scaling.
- Fractal Alpha: Fractal Alpha consists of independent AI businesses, either incubated or acquired, offering subscription-based or licensable AI products. These businesses operate autonomously and focus on high-growth markets and specialized AI use cases, driving product-led innovation.
Together, Fractal.ai and Fractal Alpha provide an end-to-end AI ecosystem, combining consulting, platforms, and products for global enterprises.
Fractal serves a diversified base of large global enterprises, including several Fortune 500 companies, across sectors such as BFSI, retail, consumer goods, healthcare, and technology. Its customers include Citibank, N.A. (Citi), Costco, Franklin Templeton, Mars, Mondelez, Nationwide, Nestlé, Philips, among others, reflecting the company’s strong positioning as a trusted AI partner for mission-critical decision systems.
Fractal Analytics IPO – Details
| IPO Opening Date | 09 February 2026 |
| IPO Closing Date | 11 February 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 3,14,87,777 Shares Worth ₹2833.90 Crore Fresh Issue: 1,13,72,222 Shares Worth ₹1023.50 Crore Offer For Sale: 2,01,15,555 Shares Worth ₹1810.40 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹857 – ₹900 per share |
| Market Lot | 16 Shares |
| Min Order | 16 Shares [ 1 lot ] |
| Employee Discount | ₹85 |
| Listing At | BSE, NSE |
| Register | MUFG Intime India Pvt.Ltd. |
| QIB Shares Offered | 75% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 10% |
Fractal Analytics IPO – Date Schedule
| IPO Open Date | 09 February 2026 |
| IPO Close Date | 11 February 2026 |
| Basis of Allotment | 12 February 2026 |
| Initiation of Refund | 13 February 2026 |
| Credit of Shares to Demat Account | 13 February 2026 |
| IPO Listing Date | 16 February 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 11, 2026 |
Amagi Media Labs IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,400 |
| Retail (Max) | 13 | 208 | ₹1,87,200 |
| S-HNI (Min) | 14 | 224 | ₹2,01,600 |
| S-HNI (Max) | 69 | 1104 | ₹9,93,600 |
| B-HNI (Min) | 70 | 1120 | ₹10,08,000 |
Competitive Strength
- Leading Player in a large and growing AI market.
- Long-standing and growing relationships with marquee, global clients contributing to a diversified revenue base.
- Deep and integrated technical, domain and functional expertise.
- Track record of inventing and investing to benefit clients.
- Culture of trust, transparency & freedom to nurture talent.
- Experienced founders-led management team focused on building Fractal for the long term.
Company Promoters
- Srikanth Velamakanni
- Pranay Agrawal
- Chetana Kumar
- Narendra Kumar Agrawal
- Rupa Krishnan Agrawal
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2023 | ₹2,043.70 Cr | ₹2,225.20 Cr | ₹194.40 Cr | ₹325.60 Cr |
| 31 March 2024 | ₹2,241.90 Cr | ₹2,250.60 Cr | –₹54.70 Cr | ₹250.10 Cr |
| 31 March 2025 | ₹2,816.20 Cr | ₹2,575.50 Cr | ₹220.60 Cr | ₹266.20 Cr |
| 30 September 2025 | ₹1,594.30 Cr | ₹1,446.20 Cr | ₹70.90 Cr | ₹274.60 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| RoNW | 3.6% |
| PAT Margin | 4.50% |
| EBITDA Margin | 11.90% |
| Price to Book Value |
| Pre IPO | Post IPO | |
| EPS (₹) | 13.74 | 8.25 |
| P/E (x) | 65.50 | 109.12 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Investment in one of our Subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings. | ₹264.90 |
| Purchase of laptops. | ₹57.10 |
| Setting up new office premises in India. | ₹121.10 |
| Investment in (a) research and development, and (b) sales and marketing under Fractal Alpha. | ₹355.10 |
| Funding inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes |
Fractal Analytics IPO Peer Comparison
- There are no listed companies in India or globally that operate under a business model similar to that of Fractal Analytics Limited.
✅Strengths
- Leader in enterprise AI with strong global recognition in analytics and AI services.
- End-to-end AI capabilities, covering consulting, platforms, and AI products.
- Long-term relationships with large global enterprises, including Fortune 500 clients.
- Proprietary platforms and IP, including the agentic AI platform Cogentiq.
- Strong domain and behavioral science expertise integrated with AI solutions.
- Founder-led management with a long-term strategic vision.
⚠️Risks
- High dependence on large enterprise clients for revenues.
- Exposure to global economic conditions, especially in overseas markets.
- Intense competition from IT services firms, AI specialists, and in-house teams.
- Talent retention risk in a highly competitive AI and data science market.
- Rapid technological changes requiring continuous investment in innovation.
- Regulatory and data privacy risks across multiple geographies.
Fractal Analytics IPO Promoter Holding
| Pre Issue Share Holding | 18.18% |
| Post Issue Share Holding | 16.98% |
Fractal Analytics IPO Prospectus
Company Contact Information
| Fractal Analytics Ltd. Level 7, Commerz II, International Business Park, Oberoi Garden City, Off W. E. Highway, Goregaon (E), Mumbai, Maharashtra, 400063 Phone: +91 22 6850 5800 Email: investorrelations@fractal.ai Website: https://fractal.ai/ |
Fractal Analytics IPO Registrar
| MUFG Intime India Pvt. Ltd. Phone: +91-22-4918 6270 Email: fractal.ipo@in.mpms.mufg.com Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html |
Fractal Analytics IPO Lead Manager(s)
| 1. Axis Capital Limited 2. Kotak Mahindra Capital Company Limited |
Fractal Analytics IPO FAQs
| What is Fractal Analytics IPO? Fractal Analytics IPO is a main-board IPO. The issue is priced at ₹857 to ₹900 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Fractal Analytics IPO open? The IPO is to open on 09 February 2026 for QIB, NII, and Retail Investors. |
| What is Fractal Analytics IPO Investors Portion? The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%. |
| What is Fractal Analytics IPO Size? Fractal Analytics IPO size is ₹2,833.90 Crore. |
| What is the Fractal Analytics IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 16 Shares with ₹14,400, while the maximum bid is 208 Shares with ₹1,87,200. |
| What is the Fractal Analytics IPO Allotment Date? Fractal Analytics IPO allotment date is 12 February 2026. |
| What is the Fractal Analytics IPO Listing Date? Fractal Analytics IPO listing date is 16 February 2026. The IPO is to be listed on the BSE and the NSE. |
