Fractal Analytics IPO

Fractal Analytics IPO is a book-build issue of ₹2,833.90 crores, which is a combination of a fresh issue of ₹1,023 crores and an offer for sale (OFS) of ₹1,810 crores. The price band for this IPO is set at ₹875 to ₹900 per share and the lot size for an application is 16. The minimum amount of investment required by an individual investor (retail investor) is ₹14,400 (16 shares), while the IPO will open for subscription from Feb 9, 2026, to Feb 11, 2026, on the supposed listing platforms of the Indian stock exchanges, i.e., BSE and NSE, with a tentative listing date fixed as Feb 16, 2026.

Company Background

Fractal Analytics Ltd. was founded in March 2000, a global leader in enterprise AI and decision intelligence. The company operates through 2 primary divisions: Fractal.ai, which provides scalable AI services via its proprietary Cogentiq platform and Fractal Alpha, an internal incubator for high-growth AI businesses like Qure.ai. This company has a strong client roster, including Citibank, Nestlé and Google. A leverages deep domain expertise and a founder-led management team to deliver innovative solutions, maintaining a competitive edge in the rapidly evolving global technology landscape.

Operations & Product Range

Facilities and Production

Fractal Analytics Ltd. maintains a strong global footprint with headquarters in Mumbai and New York, supported by over 15 locations across the UK, Australia, Ukraine and Canada. Its "production" infrastructure is centered on high-end technology centers in India (based in Bengaluru, Gurugram and Chennai) and Palo Alto, housing nearly 4,900 specialists. These facilities simplify the delivery of AI-driven decision intelligence and cloud-based engineering for Fortune 500 clients worldwide.

Brands & Market Presence

The company operates a diverse portfolio of AI brands, including Cogentiq (agentic AI), Asper.ai (revenue growth) and Vaidya.ai (healthcare diagnostics). Fractal Analytics Ltd.’s venture studio, Fractal Alpha, has successfully incubated market-leading subsidiaries like Qure.ai, which gained international acclaim in the medical imaging space. This company commands a dominant presence in the CPG, BFSI and retail sectors, serving 122 "must-win" global giants.

Revenue Channels

• • AL & Analytical Services, like annuity contracts, land and expand strategy and project-based consulting
• • Platform monetisation and recurring income through agentic AI platform
• • Customized services, like Vaidya.ai and Kalaido.ai, are made for specific sectors.

Management & Shareholding

Promoter & Shareholding

The promoters of Fractal Analytics Ltd. are Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal, who collectively hold approximately an 18.3% stake in the company. The remaining 81.7% is held by prominent institutional investors, including TPG Capital and Apax Partners (via Quinag Bidco). The upcoming IPO features a fresh issue of ₹1,023.5 Cr alongside an OFS primarily by these existing institutional backers.

Board Members

The board of the company is chaired by Rohan Haldea (Apax Partners) and includes co-founders Srikanth Velamakanni and Pranay Agrawal. The leadership of Fractal Analytics Ltd. is strengthened by high-profile independent directors such as Neelam Dhawan (formerly of HP/Microsoft), Janaki Akella (formerly of McKinsey/Google) and Karen Ann Terrell (formerly of Walmart). Other notable non-executive members include Sasha Mirchandani and Vivek Mohan, ensuring a blend of strategic venture capital and deep enterprise technology expertise.