Fractal raises Rs 1,248 Cr from anchor investors ahead of IPO

AI solutions provider Fractal Analytics has raised Rs 1,248 crore from anchor investors ahead of the opening of its initial public offering, according to a regulatory filing.

According to disclosures, the Bengaluru-based company allotted 1.38 crore equity shares to anchor investors at Rs 900 per share, which is the upper end of the IPO’s price band. The anchor book saw participation from a mix of leading domestic mutual funds and global institutional investors.

SBI Small Cap Fund and Life Insurance Corporation of India emerged as among the largest domestic participants in the anchor book, with marquee global institutions such as Morgan Stanley, Goldman Sachs, Amundi, Kuwait Investment Authority and Allspring Global also taking significant positions, indicating confidence in Fractal’s long-term growth trajectory.

The price band for the issue has been fixed at Rs 857–900 per share, valuing Fractal at around $1.6 billion at the upper end. The issue is scheduled to open on February 9 and close on February 11.

According to the RHP, Fractal’s public issue has been reduced by 42% to Rs 2,834 crore, from the Rs 4,900 crore IPO outlined in its draft red herring prospectus (DRHP) last year. 

The revised IPO will comprise a fresh issue of shares worth Rs 1,023.5 crore and an offer for sale (OFS) of Rs 1,810.4 crore by existing shareholders. Proceeds from the fresh issue will be used to fund inorganic growth, invest in subsidiaries, meet working capital requirements, and for general corporate purposes.

Founded in 2000, Fractal provides artificial intelligence and advanced analytics solutions to global enterprises across sectors such as consumer goods, retail, healthcare, technology and financial services. The company derives a majority of its revenue from overseas markets, particularly the US.

On the financial side, Fractal reported consolidated revenue of Rs 2,765 crore in FY25 from Rs 2,196 crore in FY24. Its net profit stood at Rs 220.6 crore in FY25, compared to a loss of Rs 54.7 crore in FY24. For the first half of FY26, it recorded revenue of Rs 1,559 crore and a profit of Rs 71 crore.