2.66xsubscribed
Fractal Analytics IPO
2.66xsubscribed
listed
2.66xsubscribed
₹13,712Min. investment
Fractal Analytics Limited IPO Details
Issue size
₹2,834Cr
IPO type
Mainboard
Market cap
₹15,473.6CrHigher than sector avg
Price range
₹857 – ₹900
Listing exchange
BSE, NSE
RevenueApr 2024 - Mar 2025
₹2,765.4CrHigher than sector avg
Listing date
16 Feb 2026
Lot size
16 shares
Draft Red Herring Prospectus
Read
Growth rate3Y CAGR
18.01%Higher than sector avg
Price range₹857 – ₹900
IPO type
Regular
Lot size16 shares
Issue size₹2,834Cr
Draft Red Herring Prospectus
Read
Market cap
₹15,473.6CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹2,765.4CrHigher than sector avg
Growth rate3Y CAGR
18.01%Higher than sector avg
Fractal Analytics IPO Subscription Status
As on 09-Feb-26, 5:30 PM
Fractal Analytics IPO Timeline
- Pre-apply6 Feb 2026
- Bid start9 Feb 2026
- Bid end11 Feb 2026
- Allotment12 Feb 2026
- Release of funds13 Feb 2026
- Demat transfer13 Feb 2026
- Listing16 Feb 2026
About Fractal Analytics Limited
Incorporated in 2000, Fractal Analytics helps large global businesses leverage artificial intelligence to improve their decision-making. The company has developed full-stack AI capabilities over the last 25 years by integrating technology, industry knowledge, and business expertise.
Fractal Analytics operates through two parts: Fractal.ai, which offers AI services and AI products largely through its Cogentiq platform and Fractal Alpha, which is the home of smaller, independent AI businesses being incubated by the group.
The company mainly focuses on working with very large global companies, which it terms “Must Win Clients”. These are companies that either have more than US$10 billion in revenue, over US$20 billion in market value or have more than 3 crore customers. As of September 2025, the company had 122 such clients compared to 107 two years ago. Its clients are some of the biggest global names like Citi, Costco, Nestle, Mondelez, Mars, Philips, and Franklin Templeton.
Fractal Analytics has business operations mainly in 4 major industries: consumer goods and retail, technology and telecom, healthcare and life sciences, and financial services. In H1FY26, consumer goods and retail contributed the most to revenue, followed by the technology and telecom sectors, then healthcare, and lastly, financial services. The majority of the company's business derives revenue from abroad. In H1FY26, the Americas accounted for 2/3rd of the company’s revenue, followed by Europe and then Asia-Pacific. Around 92% of total revenue derives from foreign clients.
The company has built strong relationships with its clients. Over the past years, the 10 largest clients, on average, have been working with Fractal for more than 8 years and together represent just more than 50% of the revenue. Customer feedback scores have been at a consistently high level over the last few years.
Cogentiq is Fractals primary AI platform, which was introduced at the beginning of 2025. It helps companies quickly build and use AI tools without heavy technical effort. The company is significantly spending on its research and development. The company has developed in-house AI models for applications like medical imaging and image generation and has even open-sourced some of its work. As of Jan 2026, it has 28 and 376 registered patents and trademarks, respectively, with 38 and 104 pending.
The market for AI software is rapidly expanding. Its value was approximately $101 billion (INR ~8 lakh crore) in FY25, and it is projected to nearly triple to $283 billion (INR ~24 lakh crore) by FY30, increasing at a CAGR of 22.9%. This surge is due to companies buying ready made AI software more and more rather than developing software from scratch internally, an increase in cloud usage, and innovations like GenAI and foundation models that are making AI friendlier to users. Additionally, AI use cases in areas like sales, marketing, supply chain, finance, and IT are becoming standard products rather than one-off projects.
Such an impressive industry growth undoubtedly provides a clear advantage for Fractal Analytics since it operates in the two major parts of the AI software market - AI platforms and applied AI solutions, which are the fastest-growing segments. The AI platforms market, where Fractals Cogentiq platform is positioned, is anticipated to increase from $57 billion (₹4.8 lakh crore) in FY25 to $149 billion (₹12.5 lakh crore) by FY30. Applied AI is expanding even more rapidly, especially the industry-focused solutions for banking, healthcare, retail/CPG, and manufacturing sectors, with this segment forecasted to grow at a CAGR of 27.1%.
Now, Fractal Analytics is launching its initial public offering (IPO), which consists of a fresh issue of ₹1,023.5 crore and an offer for sale of ₹1,810.40 crore. The total issue size of the IPO is ₹2,833.90 crore. Its shares will be listed on the NSE and BSE.
## How to pre-apply for the Fractal Analytics IPO?
You can pre-apply for the Fractal Analytics IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
- Login to your Upstox account, using your six-digit PIN
- After successfully logging in, click on ‘Discover’
- On the Discover tab, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, look for the ‘Fractal Analytics IPO’ tab and click on it
- Now fill in all the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Pre-Apply’
- Accept the mandate on your UPI app
How to apply for the Fractal Analytics IPO?
If you are interested in this investment opportunity but unsure how to apply for the Fractal Analytics IPO, here we are listing out the steps for you.
Here’s a step-by-step guide on how to apply for the Fractal Analytics IPO on Upstox:
- Login to your Upstox account, using your six-digit PIN
- After successfully logging in, click on ‘Discover’
- On the Discover tab, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, look for the Fractal Analytics IPO’ tab and click on it
- Now fill in all the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Apply’
- Accept the mandate on your UPI app
How to check the Fractal Analytics IPO allotment status?
When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to seven days after an IPO closes.
Here’s a step-by-step guide on how to check the Fractal Analytics IPO allotment status:
- Login to your Upstox account, using your six-digit PIN
- After successfully logging in, click on ‘Discover’
- On the Discover page, you will find the ‘Invest in IPO’ section
- Under the Invest in IPO section, you will find the ‘View all’ option
- Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
- In the ‘IPO’ tab, click on ‘My applications’
- In ‘My applications’, under the History section, your allotment status will be mentioned.
Fractal Analytics Limited IPO Analysis
IPO REVIEW
Fractal Analytics IPO | Analysis Video
Should you apply?
Watch our analysts break down the Fractal Analytics Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.
Checklist
Quality analysis
Revenue growth
Company valuation
Earnings expansion
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Strength and Weakness
Exposure to a global AI market
Fractal Analytics operates as a pure-play Data, Analytics, and AI (DAAI) company in a market valued at ₹12 lakh crore in FY25 and projected to reach ₹23 lakh crore by FY30 at a CAGR of 16.7%. The company is the preferred partner for businesses wishing to combine their providers due to its capacity to offer end-to-end AI solutions. From FY23 to FY25, Fractal Analytics revenue increased at a CAGR of 18.0%, greatly exceeding the ~11% CAGR of the global third-party DAAI industry.
Strong track record of innovation
Innovation is a crucial part of the company’s business strategy since the company consistently invests in R&D. During H1FY26, the company spent ₹143.6 crore on research and development, concentrating on Gen AI, machine vision, NLP, and agentic AI systems. Fractal had 38 patent applications and 28 granted patents as of January 2026. The company's flagship platforms, like Cogentiq and Kalaido.ai, show how it can apply its knowledge of research to develop AI solutions for commercial use.
Deep and integrated technical, domain and functional AI expertise
Working with ten of the top twenty global CPG companies, Fractal Analytics has generated ₹413.4 crore from TMT and ₹569.2 crore from CPGR in H1FY26, demonstrating how its strong technical expertise in certain areas allows for scalability in client growth. Functional AI systems that support this and facilitate cross-functional implementation include Cogentiq Sales Assist, Campaign Assist, and Enterprise Store.
Strong global client relationships
In terms of revenue as of FY25, the company served 10 of the top 20 global CPG companies, 8 of the top 20 TMT companies, and 10 of the top 20 healthcare companies. Its varied clientele not only reduces the risk of concentration but also makes it possible to cross-sell AI products across sectors and geographical areas. Additionally, the fact that foreign clients accounted for 92.4% of H1FY26 revenue and 91.6% of FY25 revenue demonstrated Fractal's scalability and global relevance.
Objectives of Fractal Analytics Limited IPO
Funding for R&D, sales and marketing
34.60%
Investment in subsidiary
25.80%
General corporate purposes
22.00%
Funding for infrastructure and new office
17.40%
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Company NameFractal Analytics Limited
How to apply for Fractal Analytics IPO?
- Step 1
Log in to your Upstox account to access IPO investments. Next, select the current IPO section.
- Step 2
Specify IPO details. Enter the number of lots and the price you wish to apply for.
- Step 3
Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4
Mandate Notification. Your UPI app will receive a mandate notification to block funds.
- Step 5
Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.
Latest News on Fractal Analytics Limited IPO
Fractal Analytics IPO opens February 9: Check issue size, objectives and key dates
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Fractal Analytics IPO sets price band at ₹857 to ₹900 per share; check lot size, key dates and more
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Fractal Analytics IPO: 10 key things retail investors should know from RHP
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Upcoming IPOs: Fractal Analytics, Aye Finance, Marushika Technology issues to open, 4 listings scheduled this week; check list
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Fractal Analytics IPO opens: Check subscription status, price band, lot size and key dates
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Fractal Analytics IPO subscribed 14% so far on Day 2: Check price band, lot size and objectives
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Fractal Analytics IPO subscribed 1.45 times so far on Day 3: Check allotment date and steps
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Fractal Analytics IPO allotment finalised: Check status online on MUFG Intime India, BSE, NSE; listing date, time revealed
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Upcoming IPOs: Fractal Analytics, 2 more listings lined up this week; Gaudium IVF, Fractal Industries issues, Yashhtej Industries to open
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Fractal Analytics share price: Stock lists at 2.7% discount on NSE; here's how much investors lost
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Fractal Analytics Limited IPO FAQs
How to invest in the Fractal Analytics IPO ?
Investors can apply for the Fractal Analytics IPO through their Demat account via the stock exchange or through their broker.
What is the issue size of Fractal Analytics IPO ?
The issue size of the Fractal Analytics IPO is 2834 Cr.
What is 'pre-apply' for Fractal Analytics IPO ?
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
Which exchanges will Fractal Analytics IPO shares list on?
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
What are the open and close dates of the Fractal Analytics IPO ?
Fractal Analytics IPO will be open between 2026-02-09 and 2026-02-11.
What is the allotment date for the Fractal Analytics IPO ?
Fractal Analytics IPO allotment date is 2026-02-13. For Fractal Analytics IPO allotment status check, you can visit the website of the registrar of the IPO.
Who is the registrar of Fractal Analytics IPO ?
For Fractal Analytics IPO, the IPO registrar is MUFG Intime India Private Limited. You can check Fractal Analytics IPO allotment status on the website of the registrar.
Where is the Fractal Analytics IPO getting listed?
The shares are proposed to be listed on the BSE and NSE.
When will Fractal Analytics IPO shares be credited to your demat account?
The Fractal Analytics IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
What is the lot size and minimum order quantity of the Fractal Analytics IPO ?
The Fractal Analytics IPO lot size is 16 and minimum order quantity is 16.
What is the price band for the Fractal Analytics IPO ?
Fractal Analytics IPO has set the price band for its IPO at 900 per equity share with a face value of 1.