Fractal Analytics Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹900
Per ShareLot Size
16 Shares
Minimum Investment
₹14,400
Issue Size
₹2,833.9 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Fractal Analytics Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
17.87%
Promoter Holding (Post-Issue)
16.05%
Issue Type
Book Building
ISIN
INE212S01015
About the Company
Founded in 2000, we are a globally recognized enterprise AI company with a vision to power human decisions in our clients' enterprises. We support large global enterprises with data-driven insights and assist them in their decision making through our end-to-end AI solutions, which we build by leveraging our technical, domain and functional capabilities developed over our operating history of over 25 years. As of September 30, 2025, our full suite of AI solutions is organized under two segments: Fractal.ai (comprising AI services and AI products primarily hosted on Cogentiq, an agentic AI platform designed to help enterprises accelerate their business transformation and decision systems through a pre-built suite of agents, tools, and connectors with inter-operability features) and Fractal Alpha (comprising independent AI businesses, either incubated or acquired, providing subscription or licensable offerings).
Industry Overview
The overall data, analytics and AI ("DAAI") market, valued at an estimated US$143 billion (Rs.12 trillion) in Fiscal 2025 is expected to grow at 16.7% CAGR to US$310 billion (Rs.23 trillion) by Fiscal 2030. Banking, financial services, and insurance ("BFSI"), healthcare and life sciences ("HLS"), retail and distribution, consumer packaged goods ("CPG") and technology, media and telecommunications ("TMT") were estimated to account for 80% of the global DAAI services market in Fiscal 2025. Increased Gen AI adoption is likely to drive CAGRs for BFSI (16.7%), HLS (18.2%), retail and distribution (15.2%), CPG (15.0%) and TMT (15.7%) over Fiscals 2025-2030.
Company History
Our Company was originally incorporated as `Fractal Communications Limited' at Mumbai, Maharashtra as a public limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated March 28, 2000, issued by the Registrar of Companies, Maharashtra, at Mumbai ("RoC") and commenced its business pursuant to a certificate of commencement of business dated April 6, 2000. The name of our Company was subsequently changed to `Fractal Technologies Limited' to align the name with the business of our Company and our Company received a fresh certificate of incorporation from the RoC on March 28, 2001. The name of our Company was subsequently changed to `Fractal Analytics Limited' to align the name with the business of our Company and our Company received a fresh certificate of incorporation from the RoC on May 7, 2004. Subsequently, our Company was converted to a private limited company, and the name of our Company was changed to `Fractal Analytics Private Limited' and our Company received a fresh certificate of incorporation from the RoC on February 15, 2013. Subsequently, pursuant to the conversion of our Company to a public limited company, the name of our Company was changed to `Fractal Analytics Limited' and the Registrar of Companies, Central Processing Centre issued a fresh certificate of incorporation on May 16, 2024.
Products & Services
- The Company is a globally recognized enterprise AI company with a vision to power human decisions in its clients' enterprises.
Growth Strategy
- Acquire and grow "must win clients", or "MWCs"
- Expand capabilities by investing in AI research and product innovation.
- Continue to build a great place to work
- Partner with leading technology companies
- Accelerate our capabilities through acquisitions
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 31523948 equity shares of face value of Rs.1/- each ("Equity Shares") of Fractal Analytics Limited ("Company") for cash at a price of Rs. 900 per equity share (including a share premium of Rs. 899 per equity share) ("Offer Price") aggregating up to Rs.2833.90 crores, comprising a fresh issue of 11408394 equity shares of face value of Rs.1/- each aggregating up to Rs.1023.50 crores ("Fresh Issue") and an offer for sale of 20115554 equity shares of face value of Rs.1/- each aggregating up to Rs.1810.40 crores ("Offer For Sale", and together with the fresh issue, the "Offer"), comprising 9787777 equity shares of face value of Rs.1/- each aggregating up to Rs.880.90 crores by Quinag Bidco Ltd, 500000 equity shares of face value of Rs.1/- each aggregating up to Rs.450.00 crores by TPG Fett Holdings Pte. Ltd., 327777 equity shares of face value of Rs.1/- each aggregating up to Rs.29.50 crores by Satya Kumari Remala and Rao Venkateswara Remala and 5000000 equity shares of face value of Rs.1/- each aggregating up to Rs.450.00 crores by GLM Family Trust (collectively, the "Selling Shareholders", and such equity shares cumulatively offered by the selling shareholders, the "Offered Shares"). The offer includes a reservation of 666667 equity shares of face value of Rs.1/- each, aggregating up to Rs.60.00 crores for subscription by eligible employees (as defined hereinafter) not exceeding 5% of the post-offer paid-up equity share capital ("employee reservation portion"). The offer less the employee reservation portion is hereinafter referred to as the "net offer". The offer and the net offer shall constitute [*]% and [*]%, respectively, of the post-offer paid-up equity share capital of the company. Price Band: Rs. 900 per equity share of face value Re. 1/- each. The floor price is 900 times of the face value of the equity shares. Bids can be made for a minimum of 16 equity shares and in multiples of 16 equity shares thereafter. A discount of Rs. 85 per equity share is being offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- 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.
- Experienced founders-led management team focused on building Fractal for the long term.
- Security breaches, cyber-attacks, computer viruses and hacking activities may cause material adverse effects on the company's business, financial performance and results of operations and expose the company to liability, which could adversely affect its business and the company's reputation.
- The company's success depends on its ability to attract, retain and expand relationships with the company's clients.The company derived 54.2% of its revenue from operations in the company's Fractal.ai segment from the company's top-10 clients, of which one client contributed 8.2% of its revenue, in the six months ended September 30, 2025. The company also derived 79.6% of its revenue from operations in the company's Fractal.ai segment from its existing "Must Win Clients" ("MWC") in the six months ended September 30, 2025. If the company cannot maintain and expand its relationships with the company's existing client base or add new clients, the company's business, financial condition, cash flows and results of operations may be adversely affected.
- The company's focus industries - consumer packaged goods and retail ("CPGR"), technology, media and telecom ("TMT"), healthcare and life sciences ("HLS"), and banking, financial services and insurance ("BFSI") contributed 37.5%, 27.2%, 17.0%, and 12.2%, respectively in the six months ended September 30, 2025 to the company's revenue from operations in the Fractal.ai segment. Any decrease in demand for AI solutions in these industries could adversely affect its business, financial condition and results of operations.
- The company's had a net loss in Fiscal 2024 and losses before exceptional items and tax expense in Fiscals 2024 and 2023. There is no assurance that the company will not incur losses in the future as the company expands the company's operations.
- The Company, Subsidiaries, and two of its Directors are involved in certain legal proceedings. Any adverse decision in such proceedings may render the company/them liable to liabilities/penalties and may adversely affect its business, cash flows and reputation.