Quick Read
- Fractal Analytics IPO opens February 9, 2026, closing February 11, 2026.
- Issue size is ₹2,834 crore, with a price band of ₹857-900 per share.
- Grey Market Premium (GMP) is reported at ₹98, signaling positive debut expectations.
- Estimated listing price stands at ₹998, a 10.89% premium over the upper price band.
- Funds raised will support US subsidiary, debt reduction, R&D, and potential acquisitions.
MUMBAI (Azat TV) – Fractal Analytics, a global leader in artificial intelligence and decision intelligence, is poised to launch its initial public offering (IPO) on Monday, February 9, 2026, amid significant market anticipation. The mainboard issue, which is being positioned as India’s first pure-play AI listing, has already generated considerable buzz, with its Grey Market Premium (GMP) indicating strong investor confidence and an expected double-digit listing gain.
The IPO for Fractal Analytics will be open for subscription from February 9 to February 11, 2026. The company aims to raise a substantial ₹2,834 crore through a combination of fresh equity shares and an offer-for-sale (OFS) by existing shareholders. The price band for the offering has been fixed at ₹857 to ₹900 per equity share, with investors able to apply in a minimum lot size of 16 shares, requiring an investment of ₹14,400 at the upper end of the price band.
Fractal Analytics IPO Details and Objectives
The ₹2,834 crore IPO includes a fresh issue of shares worth ₹1,023.5 crore and an offer for sale amounting to ₹1,810.4 crore. The proceeds from the fresh issue are earmarked for several strategic business initiatives. Fractal Analytics plans to invest in its US subsidiary, reduce outstanding debts, expand its office infrastructure, strengthen its research and development capabilities, and bolster sales and marketing activities. The company also intends to explore potential acquisitions and cover general corporate expenses, according to its filings.
Founded in March 2000, Fractal Analytics has established itself as a global enterprise-focused AI and decision intelligence business over more than two decades. It assists large organizations in enhancing their decision-making processes by combining extensive technical skills with specialized domain knowledge. Its service offerings are primarily categorized into two divisions: Fractal.ai, which delivers AI products and services through its agentic AI platform, Cogentiq, and Fractal Alpha, comprising independently managed AI ventures aimed at exploring new markets and fostering innovation across various industries.
Strong Pre-Listing Sentiment and Grey Market Premium
Investor interest in Fractal Analytics has been robust leading up to the IPO. The allocation to anchor investors, which took place on Friday, February 6, served as a key indicator of institutional appetite. Following this, the Grey Market Premium (GMP) for Fractal Analytics IPO has been reported at ₹98. This premium reflects expectations of a positive debut on the stock exchanges.
Considering the upper end of the IPO price band at ₹900 per share and the current GMP of ₹98, the estimated listing price for Fractal Analytics shares is indicated at ₹998 apiece. This suggests a potential listing gain of 10.89% over the IPO price, signaling confidence among market participants regarding the company’s valuation and growth prospects. The tentative listing date for Fractal Analytics shares on both the BSE and NSE is scheduled for Monday, February 16, 2026.
IPO Reservation and Management
The IPO structure includes specific reservations for different investor categories. Not less than 75% of the shares in the public issue are reserved for qualified institutional buyers (QIBs), while not more than 15% is allocated for non-institutional investors (NIIs). Retail investors have a reservation of not more than 10% of the offer. Additionally, shares worth ₹600 million have been reserved for employees.
The offering is being managed by a consortium of prominent financial institutions serving as the Book Running Lead Managers, including Kotak Capital, Morgan Stanley India, Axis Capital, and Goldman Sachs. MUFG Intime India Pvt. Ltd. has been appointed as the official registrar for the issue, overseeing the allotment process. The tentative allotment basis for Fractal Analytics IPO is expected to be determined on Thursday, February 12, with refunds commencing on February 13, and shares being credited to demat accounts on the same day as refunds.
The strong pre-listing indicators, including a notable Grey Market Premium and successful anchor investor allocation, underscore the market’s enthusiasm for companies at the forefront of artificial intelligence. Fractal Analytics’ strategic positioning as a pure-play AI entity appears to resonate with investors looking for growth opportunities in advanced technology sectors.