Fractal Analytics IPO Launches in India
Analysis based on 7 articles · First reported Feb 05, 2026 · Last updated Feb 11, 2026
The IPO of Fractal Analytics, India's first pure-play AI company, is expected to generate cautious but positive sentiment, with a modest grey market premium. Its listing will provide a new investment avenue in the rapidly growing AI sector, potentially influencing valuations for other technology companies in India.
Fractal Analytics, a global enterprise AI and decision intelligence company, is conducting its Initial Public Offering (IPO) in India, aiming to raise Rs 2,834 crore. The IPO, which opened on February 9 and closes on February 11, 2026, has a price band of Rs 857 to Rs 900 per share. The company had initially proposed a larger IPO of Rs 4,900 crore but scaled it down. Fractal Analytics has garnered Rs 1,248.26 crore from anchor investors. The grey market premium for Fractal Analytics shares indicates a subdued but positive listing, with an estimated listing price around Rs 907-913. Brokerage firms like BP Wealth, Meritz Securities, and Swastika Investmart have recommended 'subscribe' ratings, citing the company's strong position in the AI market and improved profitability in FY25. However, Meritz Securities assigned a 'NEUTRAL' rating due to elevated valuations and potential risks. The proceeds from the fresh issue will be used for debt repayment of its US subsidiary, Fractal Analytics, investments in R&D, new office premises in India, and strategic acquisitions. This IPO marks a significant milestone for India's primary market as Fractal Analytics becomes the first pure-play AI company to list on Dalal Street.
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