Fractal Analytics IPO closes with 2.6x subscription led by QIBs; investors await allotment

Fractal Analytics Ltd, aiming to become India’s first listed AI company, successfully concluded its Rs 2,833.90 crore book-built IPO, which witnessed a 2.6 times overall subscription, according to provisional exchange data. The strong demand was led primarily by Qualified Institutional Buyers (QIBs), which booked 4.18 times the reserved portion.

Fractal Analytics IPO subscription status across investor categories

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Overall, the IPO received bids for 4.94 crore shares against an offer of 1.85 crore shares, resulting in a 2.66 times the overall subscription.

The category-wise subscription details are:

• Qualified Institutional Buyers (QIBs) booked 4.18 times, with 4.05 crore shares bid against 97.10 lakh shares.
• Non-Institutional Investors (NIIs) subscribed 1.06 times, with 51.27 lakh shares bid against 48.55 lakh reserved.
• Retail Individual Investors (RIIs) booked 1.03 times with 33.21 lakh shares bid against 32.36 lakh allotted.

Fractal Analytics IPO details

The IPO comprised a mix of fresh issue of 1.14 crore shares worth Rs 1,023.50 crore and an offer-for-sale (OFS) of 2.01 crore shares worth Rs 1,810.40 crore. The price band for the IPO was set at Rs 857–900 per share, valuing the company at Rs 15,473.60 crore at the upper end.

Each retail application lot consisted of 16 shares, requiring a minimum investment of Rs 14,400 at the upper price.

The subscription window for investors was open from February 9 to February 11, 2026.

Kotak Mahindra Capital Co Ltd served as the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar of the issue.

The IPO allocation was structured with 75 per cent for QIBs, 15 per cent for NIIs, and 10 per cent for retail investors.

Fractal Analytics IPO allotment and listing date

The share allotment of the IPO is expected to be finalised on February 12, 2026, with listing scheduled on NSE and BSE on February 16, 2026.

About Fractal Analytics

Founded in March 2000, Fractal Analytics provides AI-powered solutions that help major global companies make data-driven business decisions.

The firm provides advanced analytics solutions through its combination of deep technical knowledge and expertise in specific domains and functional areas, which serve multiple industries, including FMCG, healthcare, retail and finance.

Fractal Analytics establishes its first milestone through an initial public offering, which aims to become India’s first publicly traded AI-specialised company, paving the way for future growth in the fast-evolving AI sector.