Mumbai / New Delhi, India – February 9, 2026 — In a landmark moment for India’s capital markets, Fractal Analytics Ltd., a leading enterprise artificial intelligence (AI) and analytics firm, officially launched its initial public offering (IPO) today, marking the arrival of the country’s first pure-play AI company to hit the Indian stock exchanges. 

The ₹2,833.90 crore IPO opened for subscription on Monday, February 9, 2026, and will remain open until Wednesday, February 11, 2026. With its price band fixed between ₹857 and ₹900 per share, the issue has drawn attention from retail and institutional investors alike. 

IPO Structure and Financial Breakdown

Fractal’s IPO consists of two components:

Fresh Issue: ₹1,023.50 crore worth of new equity shares

Offer for Sale (OFS): ₹1,810.40 crore of existing shares being sold by current investors 

The total issue size, therefore, amounts to approximately ₹2,833.90 crore, making it one of the largest domestic technology listings of early 2026. Each retail investor must apply for a minimum of 16 shares, equating to a minimum investment of ₹14,400 at the upper end of the price band. 

Strong Anchor Support Before Public Subscription

Ahead of the public subscription, Fractal Analytics successfully raised ₹1,248.3 crore from 52 anchor investors, allocating roughly 13.9 million equity shares at the top of the price band of ₹900 per share. Top global financial institutions such as Morgan Stanley, Goldman Sachs, and domestic mutual funds participated in the anchor round. 

Performance and Market Reception

The IPO’s start on Day 1 was cautious. By midday trading, only about 2% of the approximately 1.85 crore offered shares had been subscribed, indicating measured participation in the beginning phases of bidding. 

Market enthusiasts have also been tracking the grey market premium (GMP) — an unofficial price indicator that often reflects investor sentiment before listing. Early GMP updates suggested interest but fluctuated as subscription progressed. 

Fractal Analytics: A Pure-Play AI Story

Founded in 2000 and headquartered in Mumbai, Fractal Analytics has grown into a global analytics and AI services provider with a client roster spanning major multinational corporations. The company’s solutions combine data science, machine learning, and AI technologies to support enterprise decision-making across sectors. 

Fractal’s focus on next-generation AI differentiates it from traditional IT services firms, positioning it as a true pure-play AI entrant into the public markets — a milestone many experts say could pave the way for future deep-tech listings in India. 

What Happens Next

The basis of allotment is expected to be finalized on February 12, 2026, with shares likely credited to holders shortly thereafter. If all goes as planned, Fractal Analytics stock is tentatively scheduled to debut on the BSE and NSE on February 16, 2026. 

Outlook and Investor Considerations

Market analysts have noted that Fractal’s IPO presents a unique opportunity for investors seeking exposure to the AI and data analytics theme within the Indian financial market. At the same time, the modest Day-1 subscription figures underline the importance of long-term fundamentals and investor education in newer technology segments.