Fractal Industries IPO is a book-built issue aggregating ₹49 crore and consists entirely of a fresh issue of approximately 0.23 crore equity shares.
The IPO will open for subscription on February 16, 2026, and close on February 18, 2026. The allotment of shares is likely to be finalised on February 19, 2026, while the company’s shares are tentatively scheduled to be listed on the BSE SME platform on February 23, 2026.
The price band for the IPO has been fixed at ₹205 to ₹216 per share. Investors need to apply for a minimum lot size of 600 shares. For retail investors, the minimum investment works out to ₹2,59,200 for two lots (1,200 shares) at the upper price band. High Net-worth Individuals (HNIs) are required to apply for at least three lots, or 1,800 shares, amounting to ₹3,88,800.
Finaax Capital Advisors Private Limited is acting as the book-running lead manager to the issue, while Kfin Technologies Ltd has been appointed as the registrar. Shreni Shares Ltd will serve as the market maker for the IPO. Refer to Fractal Industries IPO RHP for complete details.
Fractal Industries IPO Objectives
The company plans to utilise the Net Proceeds from the issue for the following purposes:
- Funding working capital requirements up to ₹3,650 lakh
- For general corporate purposes
About Fractal Industries Limited
Fractal Industries Limited is engaged in the design, sourcing, and manufacturing of garments, along with providing end-to-end warehousing and supply chain services to e-commerce platforms. With a pan-India presence, the company operates as a full-service garment manufacturing and technology-driven supply chain management firm, focusing on fast-moving, high-quality apparel for leading e-commerce marketplaces such as Myntra, Ajio, and similar platforms.
The company integrates agile design-to-delivery manufacturing, scalable production capabilities, stringent quality control, and data-driven supply chain solutions to help brands and private labels accelerate speed-to-market, improve margins, and enhance customer satisfaction.
Fractal Industries Limited also delivers integrated supply chain and fulfilment solutions that support apparel brands, partners, and marketplaces in optimising and streamlining their e-commerce operations.
The company initially began garment manufacturing for Myntra and gradually expanded its client base to include multiple marketplaces over time. With a monthly production capacity exceeding 300,000 garment units, the company has built a robust supply chain capable of managing multiple daily orders and shipments across various online platforms.
The company’s manufacturing facility is located in Mumbai, while its warehousing network spans across Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka, enabling efficient nationwide operations.
In addition to manufacturing and logistics, the company offers a wide range of value-added services, including product management systems, data analytics, integrated logistics management, order management systems, inventory and returns management, order anomaly detection, and multi-channel sales enablement, further strengthening e-commerce operations for its partners.
Fractal Industries Limited also has a subsidiary, Nested Brands Private Limited, incorporated on April 6, 2025. The subsidiary focuses on brand creation services, including developing brand identities, concepts, and strategies for both its own brands as well as for external companies and partners.
Industry Outlook
- India’s supply chain management market is estimated at USD 2.38 billion in 2024 and is projected to reach USD 6.83 billion by 2034, growing at a CAGR of 11.11%, driven by rapid expansion in e-commerce, organised retail, and industrial sectors.
- Adoption of automation, warehouse management systems, logistics tracking, and AI-based demand forecasting is increasing across companies, helping improve efficiency, reduce logistics costs, and support higher order volumes.
- Strong market growth and digital transformation are creating opportunities for scalable, technology-enabled supply chain solutions, especially as apparel and e-commerce logistics networks expand across India.
How To Apply for the Fractal Industries IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Fractal Industries IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Fractal Industries IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Fractal Industries Limited
Registered office: Gala 212, Bhullar Star Indl. Estate, Andheri Kurla Rd, Andheri East, Mumbai - 400072, Maharashtra.
Phone: +91 22-2852 8352
Email Id: investors@fractalindustries.in
Fractal Industries IPO Reservation
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 1,14,000 (5.03%) |
| QIB Shares Offered | 10,75,800 (47.42%) |
| − Anchor Investor Shares Offered | 6,45,000 (28.43%) |
| − QIB (Ex. Anchor) Shares Offered | 4,30,800 (18.99%) |
| NII (HNI) Shares Offered | 3,24,000 (14.28%) |
| Retail Shares Offered | 7,54,800 (33.27%) |
| Total Shares Offered | 22,68,600 (100.00%) |
Fractal Industries IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 1200 | ₹2,59,200 |
| Individual investors (Retail) (Max) | 2 | 1200 | ₹2,59,200 |
| HNI (Min) | 3 | 1,800 | ₹3,88,800 |
Fractal Industries IPO Promoter Holding
The promoters of the company include Mr. Pankaj Bishwanath Agrawal and Mrs. Priti Pankaj Agrawal.
| Share Holding Pre-Issue | 97.15% |
| Share Holding Post Issue | - |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Fractal Industries IPO
| KPI | Value (FY 2025) |
| PAT Margin (%) | 8.82 |
| RoE (%) | 63.20 |
| EBITDA Margin (%) | 13.04 |
| RoCE (%) | 25.07 |
Fractal Industries IPO Registrar and Lead Managers
Fractal Industries IPO Lead Managers
- Finaax Capital Advisors Private Limited
Registrar for Fractal Industries IPO
Kfin Technologies Ltd
- Phone: 04067162222, 04079611000
- Email: fractal.ipo@kfintech.com
Financial Performance of Fractal Industries Limited
| Particulars | Period Ended Sep 30, 2025 | FY Ended Mar 31, 2025 | FY Ended Mar 31, 2024 | FY Ended Mar 31, 2023 |
| Revenue from Operations (₹ lakh) | 4,729.73 | 8,544.87 | 4,994.40 | 8,891.11 |
| Total Income (₹ lakh) | 4,733.40 | 8,551.29 | 5,000.85 | 8,891.11 |
| EBITDA (₹ lakh) | 929.15 | 1,114.81 | 405.23 | 413.12 |
| Net Profit for the Period/Year (₹ lakh) | 678.17 | 753.76 | 226.68 | 265.83 |
| Debt–Equity Ratio | 1.04 | 1.76 | 2.68 | 2.38 |
Peer Comparison
| Name of the Company | RoNW (%) | Total Income (₹ in Lakhs) |
| Bang Overseas Limited | (2.54%) | 19,100.17 |
| Fractal Industries Limited | 48.02% | 8,551.29 |
Strengths and Opportunities of Fractal Industries Limited
- Strong partnerships with leading e-commerce and retail platforms such as Myntra, Ajio, Reliance Retail, and Shoppers Stop.
- Robust manufacturing capacity of around 2,00,000 garments per month with scalable production capabilities.
- Scalable logistics infrastructure capable of handling over 10,000 daily shipments, with expansion plans targeting 1,00,000 shipments per day.
- Over two decades of manufacturing experience supported by U.S. AQL quality standards and a dedicated quality assurance team.
- Rapid expansion of Indian e-commerce and online fashion retail, driven by increasing digital adoption among Gen Z and Gen Alpha consumers.
- Rising demand for fast fashion, sustainable apparel, and ethically sourced products creating scope for brand differentiation.
- Government initiatives such as PLI schemes, PM MITRA textile parks, and Make in India programs supporting domestic textile and apparel manufacturing growth.
- Expansion of proprietary brands such as 7ate9 offering potential for higher-margin revenue streams and stronger brand ownership.
Risks and Threats of Fractal Industries Limited
- High dependence on key clients such as Myntra and Ajio for large-scale orders creates customer concentration risk.
- Elevated working capital requirements due to e-commerce payment cycles, including settlement delays and commission deductions.
- Focus on Tier-1 markets may restrict growth opportunities in rapidly expanding Tier-2 and Tier-3 e-commerce markets.
- Intense competition from large domestic and international garment manufacturers and specialised e-commerce logistics providers.
- Fluctuations in raw material prices such as cotton and fabrics can pressure manufacturing costs and margins.
- Rapidly changing fashion trends and consumer preferences increase risks related to inventory management and product relevance.
- Regulatory and compliance risks related to labour laws, sustainability standards, and export-related regulations.
- Heavy dependence on e-commerce platforms like Flipkart, Myntra, and Ajio for brand visibility, where delisting or negative customer perception could significantly impact revenues and brand image.
