The initial public offering (IPO) of Fractal Analytics entered Day 2 of bidding on Tuesday, Feb. 10, with the issue subscribed 13% so far. The mainboard offering will remain open for subscription until Feb. 11. Fractal is widely regarded as one of India's earliest pure-play artificial intelligence companies to tap the public markets.
As the issue progresses through its second day, here is a look at the key details investors need to know, including the issue structure, timelines, and the company's plans for utilising the IPO proceeds.
Fractal Analytics IPO Key Details
Issue Size:
The book-built issue is valued at Rs 2,833.90 crore, comprising a fresh issue of Rs 1,023.50 crore and an offer-for-sale (OFS) of Rs 1,810.40 crore.
Price Band:
The price band has been fixed at Rs 857 to Rs 900 per share.
Lot Size:
Each lot consists of 16 shares. At the upper end of the band, retail investors need to invest a minimum of Rs 14,400. Small NIIs must bid for at least 14 lots (Rs 2,01,600), while big NIIs require a minimum of 70 lots (Rs 10,08,000).
Allotment & Listing:
The basis of allotment is expected to be finalised on Feb. 12, 2026. Refunds and demat credit are scheduled for Feb. 13.
Listing Date:
The shares are tentatively set to list on the BSE and NSE on Feb. 16, 2026.
The IPO is being managed by Kotak Mahindra Capital, Morgan Stanley India, Axis Capital, and Goldman Sachs India Securities. MUFG Intime India is the registrar of the issue.
Use of IPO Proceeds
The company plans to deploy the net proceeds from the fresh issue across multiple growth and balance-sheet strengthening initiatives.
Debt Repayment:
A portion of the funds will be invested in its subsidiary, Fractal USA, to repay or prepay certain outstanding borrowings.
Infrastructure Expansion:
The proceeds will be used to procure laptops and technology hardware, along with setting up new office premises in India.
Growth Initiatives:
Fractal also plans to invest in research and development and sales and marketing for its Fractal Alpha division, alongside general corporate purposes and potential inorganic acquisitions.
Fractal Analytics Day 1: Subscription Details
Fractal Analytics IPO has been subscribed 20% as of 5:00 p.m.
- Qualified Institutional Buyers (QIBs): 0.02
- Non Institutional Investors(NIIs): 0.27
- Retail: 0.60
- Employee Reserved: 0.20
Fractal Analytics IPO GMP
The latest GMP for the Fractal Analytics IPO stood at Rs 4 per share as of 5:59 p.m. on Feb. 10, according to InvestorGain. With the upper limit of the issue price set at Rs 904, the latest GMP indicates a potential listing price of Rs 904 per share. This signals that the shares are expected to list at a marginal premium of approximately 0.44% over the issue price.
Note: GMP does not represent official data and is based on speculation.
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