Fractal Analytics IPO

About the company

Incorporated in 2000, Fractal Analytics helps large global businesses leverage artificial intelligence to improve their decision-making. The company has developed full-stack AI capabilities over the last 25 years by integrating technology, industry knowledge, and business expertise. Fractal Analytics operates through two parts: Fractal.ai, which offers AI services and AI products largely through its Cogentiq platform and Fractal Alpha, which is the home of smaller, independent AI businesses being incubated by the group. The company mainly focuses on working with very large global companies, which it terms “Must Win Clients”. These are companies that either have more than US$10 billion in revenue, over US$20 billion in market value or have more than 3 crore customers. As of September 2025, the company had 122 such clients compared to 107 two years ago. Its clients are some of the biggest global names like Citi, Costco, Nestle, Mondelez, Mars, Philips, and Franklin Templeton. Fractal Analytics has business operations mainly in 4 major industries: consumer goods and retail, technology and telecom, healthcare and life sciences, and financial services. In H1FY26, consumer goods and retail contributed the most to revenue, followed by the technology and telecom sectors, then healthcare, and lastly, financial services. The majority of the company's business derives revenue from abroad. In H1FY26, the Americas accounted for 2/3rd of the company’s revenue, followed by Europe and then Asia-Pacific. Around 92% of total revenue derives from foreign clients. The company has built strong relationships with its clients. Over the past years, the 10 largest clients, on average, have been working with Fractal for more than 8 years and together represent just more than 50% of the revenue. Customer feedback scores have been at a consistently high level over the last few years. Cogentiq is Fractals primary AI platform, which was introduced at the beginning of 2025. It helps companies quickly build and use AI tools without heavy technical effort. The company is significantly spending on its research and development. The company has developed in-house AI models for applications like medical imaging and image generation and has even open-sourced some of its work. As of Jan 2026, it has 28 and 376 registered patents and trademarks, respectively, with 38 and 104 pending. The market for AI software is rapidly expanding. Its value was approximately $101 billion (INR ~8 lakh crore) in FY25, and it is projected to nearly triple to $283 billion (INR ~24 lakh crore) by FY30, increasing at a CAGR of 22.9%. This surge is due to companies buying ready made AI software more and more rather than developing software from scratch internally, an increase in cloud usage, and innovations like GenAI and foundation models that are making AI friendlier to users. Additionally, AI use cases in areas like sales, marketing, supply chain, finance, and IT are becoming standard products rather than one-off projects. Such an impressive industry growth undoubtedly provides a clear advantage for Fractal Analytics since it operates in the two major parts of the AI software market - AI platforms and applied AI solutions, which are the fastest-growing segments. The AI platforms market, where Fractals Cogentiq platform is positioned, is anticipated to increase from $57 billion (₹4.8 lakh crore) in FY25 to $149 billion (₹12.5 lakh crore) by FY30. Applied AI is expanding even more rapidly, especially the industry-focused solutions for banking, healthcare, retail/CPG, and manufacturing sectors, with this segment forecasted to grow at a CAGR of 27.1%. Now, Fractal Analytics is launching its initial public offering (IPO), which consists of a fresh issue of ₹1,023.5 crore and an offer for sale of ₹1,810.40 crore. The total issue size of the IPO is ₹2,833.90 crore. Its shares will be listed on the NSE and BSE. **## How to pre-apply for the Fractal Analytics IPO?** You can pre-apply for the Fractal Analytics IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. Follow these steps to pre-apply for the IPO: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the ‘Fractal Analytics IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Pre-Apply’ - Accept the mandate on your UPI app ## **How to apply for the Fractal Analytics IPO?** If you are interested in this investment opportunity but unsure how to apply for the Fractal Analytics IPO, here we are listing out the steps for you. Here’s a step-by-step guide on how to apply for the Fractal Analytics IPO on Upstox: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover tab, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, look for the Fractal Analytics IPO’ tab and click on it - Now fill in all the required information, like ‘bid price’ and ‘lot size’ - Confirm and click on ‘Apply’ - Accept the mandate on your UPI app ### **How to check the Fractal Analytics IPO allotment status?** When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to seven days after an IPO closes. Here’s a step-by-step guide on how to check the Fractal Analytics IPO allotment status: - Login to your Upstox account, using your six-digit PIN - After successfully logging in, click on ‘Discover’ - On the Discover page, you will find the ‘Invest in IPO’ section - Under the Invest in IPO section, you will find the ‘View all’ option - Once you click on ‘View all’, you will be directed to the ‘IPO’ tab - In the ‘IPO’ tab, click on ‘My applications’ - In ‘My applications’, under the History section, your allotment status will be mentioned.

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   09 Feb 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   11 Feb 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   12 Feb 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   13 Feb 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   13 Feb 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   16 Feb 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.