Fractal Analytics IPO: India’s First Pure Play AI Public Listing

The Fractal Analytics IPO has emerged as one of the most eagerly anticipated public offerings in India’s capital markets, marking a milestone as the country’s first pure‑play artificial intelligence (AI) company to go public. The book‑built issue opened for subscription on 9 February 2026 and will close on 11 February 2026, giving investors a rare chance to participate in the fast‑growing AI and analytics space.

IPO Structure and Price Band

Fractal Analytics has set its price band between ₹857 and ₹900 per share, valuing the IPO at around ₹2,833.90 crore. This includes a fresh issue of ₹1,023.5 crore and an Offer for Sale (OFS) of ₹1,810.40 crore by existing shareholders.

The company’s decision to reduce the IPO size by over 40 percent from its earlier draft reflects a deliberate strategy to make the issue more attractive to public investors and improve post‑listing performance.

GMP Trend & Listing Outlook

Market sentiment leading up to the IPO has been upbeat. The Grey Market Premium (GMP) — an unofficial indicator of expected listing performance — was trending up around 7 percent, suggesting a potential listing price near ₹960, indicating modest listing gains if market conditions hold.

Why This IPO Matters

Fractal Analytics is a global enterprise AI and analytics firm serving major multinational clients. Its technologies help companies make data‑driven decisions using advanced AI models and analytics solutions. From financial services to consumer goods, the firm’s AI‑powered decision intelligence platforms have attracted attention for their real‑world effectiveness.

Financial performance also looks promising: the company reported a positive profit turnaround in the latest fiscal year backed by revenue growth and margin improvements.

Investor Considerations

While the IPO presents exposure to India’s burgeoning AI sector, analysts note that valuations are relatively high, and caution that long‑term gains may depend on sustained growth in adoption of AI solutions.