Fractal Analytics is gearing up to launch its initial public offering (IPO) in India as early as next month, aiming to raise around ₹49 billion ($555 million), according to news reports. The artificial intelligence and data analytics firm has started engaging with prospective investors. Fractal is reportedly targeting a valuation of about $3 billion. The plans are still under deliberation, and both the valuation and launch timeline could shift.
The company’s move comes amid a surge in public listings across India, following two blockbuster IPOs earlier this month that each raised over $1 billion. So far in 2025, Indian IPOs have collectively garnered nearly $16 billion, fueling optimism that the year may surpass the 2024 record of $21 billion in new listings.
According to Fractal’s draft prospectus, the offering will include the sale of new shares worth ₹12.8 billion, alongside a secondary sale of shares valued at ₹36.2 billion by existing investors such as TPG Inc. and Apax Partners LLP.
Axis Bank Ltd., Goldman Sachs Group Inc., Kotak Mahindra Capital Co., and Morgan Stanley are advising on the transaction.
Also Read: Lenskart Solutions Set to Launch ₹7,278 Crore IPO on October 31: What You Need to Know
Founded in 2000 by five graduates of the Indian Institute of Management Ahmedabad, Fractal became a unicorn in 2022. Of the founding team, Group Chief Executive Officer Srikanth Velamakanni and CEO Pranay Agrawal remain active, each holding about a 10% stake. Both executives will retain their shares during the IPO.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
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Published on: Oct 28, 2025, 10:19 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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