Fractal Analytics IPO: Early Shareholders to Receive Higher Returns Up to 5x

Fractal Analytics’ initial public offering (IPO) will open for subscription on February 9, 2026, and close on February 11, 2026. The basis of allotment is expected to be finalised on February 12, 2026. The company’s shares are tentatively scheduled to list on both the BSE and NSE on February 16, 2026.

Fractal Analytics IPO Details

Fractal Analytics IPO is a book-built issue worth ₹2,833.90 crore. It consists of a fresh issue of 1.14 crore equity shares aggregating to ₹1,023.50 crore, along with an offer for sale (OFS) of 2.01 crore shares amounting to ₹1,810.40 crore.

Fractal Analytics, an AI-powered analytics firm, announced a price band of ₹857–₹900 per equity share. At the upper end of the band, the company is expected to be valued at around $1.6 billion.

Early Shareholders to Generate Healthy Returns

Several marquee investors will participate in the OFS, including Apax Partners, TPG, and GLM Family Trust, and are expected to generate healthy returns on their investments.

Quinag Bidco Ltd, an Apax Partners–owned entity holding an 18.64% stake in Fractal as of the RHP date, will be the largest seller in the OFS. It plans to offload shares worth ₹880.9 crore (around $98 million), translating into an estimated 5.2x return.

TPG Capital, the company’s largest shareholder with a 25.49% stake, will sell shares worth ₹450 crore (approximately $50 million), generating a 1.4x return.

Meanwhile, GLM Family Trust, which owns a 15.59% stake, will also offload shares valued at ₹450 crore through the OFS.

Individual shareholders Satya Kumari Remala and Rao Venkateswara Remala are expected to collectively earn ₹29.5 crore from the IPO, reflecting an extraordinary 450x return, based on a weighted average acquisition cost of just ₹2 per share.

Also Read: Parijat Industries Gets SEBI Approval For IPO, Moves Ahead with Issue Preparation

Founders to Retain Their Stakes

Fractal’s co-founders, Srikanth Velamakanni and Pranay Agrawal, will not participate in the OFS and will continue to hold a combined 10% stake in the company. At the upper price band of ₹900, Velamakanni’s 5.17% stake is valued at ₹790.4 crore (around $88 million), while Agrawal’s 4.83% holding is estimated at ₹738 crore (approximately $82 million).

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