Fractal Analytics IPO
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Fractal Analytics IPO details
Schedule of Fractal Analytics
| Issue open date | 09 Feb 2026 |
| Issue close date | 11 Feb 2026 |
| UPI mandate deadline | 11 Feb 2026 (5 PM) |
| Allotment finalization | 12 Feb 2026 |
| Refund initiation | 13 Feb 2026 |
| Share credit | 13 Feb 2026 |
| Listing date | 16 Feb 2026 |
| Mandate end date | 26 Feb 2026 |
| Lock-in end date for anchor investors (50%) | 14 Mar 2026 |
| Lock-in end date for anchor investors (remaining) | 13 May 2026 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Fractal Analytics
Fractal Analytics Limited is a global enterprise AI company founded in 2000. It was incorporated in Mumbai and is promoted by Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal, and Rupa Krishnan Agrawal. The company operates at the intersection of data, analytics, and artificial intelligence. It partners with large global enterprises to power decision-making across critical business functions. Fractal delivers end-to-end AI solutions built on deep domain, data science, and engineering expertise. Its operations are organised into two segments. Fractal.ai focuses on AI services and platforms, including agentic and decision intelligence solutions for enterprise use. Fractal Alpha houses product-led, IP-driven AI businesses offering subscription- or licensable solutions. Fractal follows a B2B business model with long-term client relationships across industries such as BFSI, healthcare, retail, CPG, and technology. Its strengths lie in applied AI at scale, strong client retention, global delivery capabilities, and a proven track record of translating advanced AI into real business impact
Financials of Fractal Analytics
Issue size
| Funds Raised in the IPO | Amount |
| Total issue size | 2833.90 |
| Fresh Issue – Proceeds go to the company | 1023.50 |
| Offer for Sale | 1810.40 |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Investment in Fractal USA (debt repayment) | 264.9 (25.88%) |
| Purchase of laptops | 57.1 (5.58%) |
| Setting up new office premises in India |
121.1 (11.83%) |
| R&D and sales & marketing (Fractal Alpha) | 355.1 (34.69%) |
| Inorganic growth, strategic initiatives & general corporate purposes | 225.3 (22.02%) |
Strengths
- Long operating history with over 25 years of enterprise AI expertise.
- Strong relationships with large global enterprises across core industries.
- End-to-end AI capabilities spanning data, analytics, platforms, and products.
- High client retention driven by deep integration into client decision systems.
- Global delivery model supported by skilled talent and scalable platforms.
Risks
- High revenue concentration from a limited number of large clients.
- Significant dependence on the U.S. market for the majority of revenues.
- Rapidly evolving AI regulations may increase compliance costs.
- Past losses and potential future profitability pressures.
- Cybersecurity breaches or AI solution failures could harm reputation and finances.