Fractal Analytics IPO – Key Highlights
SEBI has approved the Initial Public Offer (IPO) of Fractal Analytics Ltd. on 18 November 2025. The company will now proceed with the next steps to launch the IPO, subject to market conditions and other required approvals. The SEBI approval will remain valid for 12 months from the date of approval.
Fractal Analytics IPO is a Book-Build Issue of Rs. 4,900.00 crore, comprising a fresh issue of equity shares aggregating up to Rs. 1,279.30 crore and an Offer for Sale (OFS) aggregating up to Rs. 3,620.70 crore.
The equity shares are proposed to be listed on BSE and NSE.
Kotak Mahindra Capital Co. Ltd. is the Book Running Lead Manager and MUFG Intime India Pvt. Ltd. is the Registrar to the issue.
Key terms such as IPO opening/closing dates, price band and lot size are yet to be announced and will be updated once notified.
(Refer to Fractal Analytics IPO DRHP for detailed information.)
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Fractal Analytics IPO Details
| Particulars | Details |
|---|---|
| IPO Date | [To be announced] |
| Listing Date | [To be announced] |
| Face Value | Rs. 1 per share |
| Issue Price Band | Rs. [.] to Rs. [.] per share |
| Lot Size | [To be announced] |
| Sale Type | Fresh Issue-cum-Offer for Sale |
| Total Issue Size | [.] shares (Rs. 4,900.00 crore) |
| Fresh Issue | [.] shares (Rs. 1,279.30 crore) |
| Offer for Sale | [.] shares of Rs. 1 (Rs. 3,620.70 crore) |
| Issue Type | Book-Build IPO |
| Listing At | BSE, NSE |
| Shareholding Pre-Issue | 14,15,52,559 shares |
| Shareholding Post-Issue | 15,96,46,975 shares |
Fractal Analytics IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | Not less than 75% of the Net Offer |
| Retail | Not more than 10% of the Net Offer |
| NII | Not more than 15% of the Net Offer |
Fractal Analytics IPO DRHP Status
| Description | Date |
|---|---|
| Filed with SEBI / Exchanges | 12 August 2025 |
| SEBI / Exchange approval received | 18 November 2025 |
Fractal Analytics IPO Promoter Holding
Promoters: Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal.
| Particulars | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 18.30% |
| Promoter Holding Post-Issue | [To be updated] |
About Fractal Analytics Ltd.
Incorporated in March 2000, Fractal Analytics Ltd. is a global enterprise AI and analytics company that helps large corporates take smarter, data-driven decisions. With over two decades of experience, Fractal combines deep AI/ML capabilities with domain and functional expertise to build scalable solutions for global clients.
As of 31 March 2025, Fractal’s business is organised into two key segments:
• Fractal.ai – Provides AI services and products via its agentic AI platform Cogentiq, which offers built-in tools, governance, low-code capabilities and enterprise-grade security to accelerate AI product development.
• Fractal Alpha – Houses standalone AI businesses aimed at high-growth markets, run as independent units to drive focused innovation across industries and geographies.
Fractal serves a diversified base of marquee global clients across verticals, leveraging a team of over 4,500 employees spread across 17 global offices (as of early 2025).
Competitive Strengths
• Leading player in a large and rapidly growing global AI and analytics market
• Long-standing relationships with marquee global clients, supporting a diversified revenue base
• Deep, integrated technical, domain and functional expertise
• Proven track record of investing and innovating to benefit clients
• Strong internal culture based on trust, transparency and freedom, aiding talent retention
• Experienced, founder-led management team focused on long-term value creation
Financial Snapshot (Rs. crore) – Consolidated (Restated)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 2,857.60 | 2,392.00 | 2,248.70 |
| Total Income | 2,816.20 | 2,241.90 | 2,043.70 |
| Profit After Tax | 220.60 | -54.70 | 194.40 |
| EBITDA | 398.00 | 97.20 | 436.80 |
| Net Worth | 1,748.30 | 1,397.00 | 1,339.20 |
| Reserves & Surplus | 1,728.70 | 1,380.50 | 1,323.10 |
| Total Borrowings | 266.20 | 250.10 | 325.60 |
Key Performance Indicators
| KPI | Value |
|---|---|
| RoNW | 12.60% |
| PAT Margin | 8.00% |
| EBITDA Margin | 14.40% |
Objects of the Issue
| S.No. | Objects of the Issue | Amount (Rs. crore) |
|---|---|---|
| 1 | Investment in subsidiary Fractal USA for pre-payment / repayment of its borrowings | 264.90 |
| 2 | Purchase of laptops | 57.10 |
| 3 | Setting up new office premises in India | 121.10 |
| 4 | Investment in (a) research and development; and (b) sales and marketing under Fractal Alpha | 355.10 |
| 5 | Funding inorganic growth via acquisitions and other strategic initiatives, and general corporate purposes | [Balance] |
Company Contact
Fractal Analytics Ltd.
Level 7, Commerz II, International Business Park, Oberoi Garden City,
Off W.E. Highway, Goregaon (East), Mumbai – 400063, Maharashtra
Phone: +91 22 6850 5800
Email: investorrelations@fractal.ai
Website: https://fractal.ai/
Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: fractal.ipo@in.mpms.mufg.com
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Managers
• Kotak Mahindra Capital Co. Ltd.
• Axial Capital Pvt. Ltd.
Chanakya IPO Review – by Paresh Gordhandas, CA & Research Analyst
(To be added closer to issue opening, after price band and valuations are available.)
Quicklinks
- Market Analysis by Nagaraj Shetti
- Stock Market today by Vaishali Parekh
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
