Fractal Analytics IPO Day 2: The initial public offering (IPO) of AI and analytics firm Fractal Analytics Ltd has entered its second day of bidding process today, 10 February 2026. The public issue received 9% subscription on the first day.
Fractal Analytics IPO opened for public subscription on Monday, February 9, and will close on Wednesday, February 11. Fractal Analytics IPO allotment date is likely February 12, Thursday, and the tentative IPO listing date is February 16, Monday. Fractal Analytics shares will be listed on both the stock exchanges, BSE and NSE.
Fractal Analytics IPO price band is set at ₹857 to ₹900 per share, and the IPO lot size is 16 shares. At the upper-end of the price band, the company aims to raise ₹2,833.90 crore from the public issue, which is a combination of fresh issue of 1.14 crore equity shares worth to ₹1,023.50 crore, and an offer-for-sale (OFS) of 2.01 crore shares amounting to ₹1,810.40 crore.
Kotak Mahindra Capital is the book running lead manager and MUFG Intime India is the Fractal Analytics IPO registrar.
Fractal Analytics IPO Subscription Status
Fractal Analytics IPO has been subscribed 9% as of Monday, February 9, the first day of the bidding process. The public issue was booked 35% in the Retail Individual Investors (RIIs) category, and 7% in the Non Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIBs) were yet to bid for the IPO.
Fractal Analytics IPO GMP Today
Fractal Analytics IPO is showing a muted grey market premium (GMP). According to websites tracking the grey market, Fractal Analytics IPO GMP today is ₹8 per share. This means that in the grey market, Fractal Analytics shares are trading at ₹908 per share, a premium of ₹8 apiece, or 0.89%, to the issue price of ₹900 per share.
Should you apply for Fractal Analytics IPO?
Fractal Analytics is India’s leading pure-play enterprise Data, Analytics and Artificial Intelligence (DAAI) company that helps leading organizations make smarter, data-driven decisions with deep technical capabilities with strong domain and functional expertise.
The company reported a revenue CAGR of 18.0% between FY23-25. Operational profitability has shown steady recovery, with a loss of ₹116 crore in FY23, followed by a profit of ₹73 crore (3.3% of revenue), ₹350 crore (12.7% of revenue), and ₹200 crore (12.8% of revenue) in FY24, FY25, and 6MFY26, respectively.
While operating cash flow moderated in Q1FY26, the overall trend suggests improving cash generation alongside profitability, analysts said.
“At the upper end of the price band of ₹900 per share, the company is trading at a P/E of 110.0x based on its FY26 annualized earnings. Given the company’s positioning within a rapidly expanding AI market and its improving profitability profile, we recommend a ‘SUBSCRIBE’ rating to the issue from a medium-to long-term perspective,” said BP Equities.
Based on the FY25 earnings, relative to the company’s paid-up capital, the issue is priced at a P/E ratio of 79x, said GEPL Capital.
“We believe that the company is India’s leading pure play AI company, has marquee clients, improving financial performance, and has strong technical and functional capabilities. Therefore, we recommend a ‘Subscribe’ rating for the issue,” said the brokerage firm.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
