Mumbai — At a time when artificial intelligence is reshaping industries across the globe, AI-focused firm Fractal Analytics is preparing to enter India’s primary market with what is being described as the country’s first IPO dedicated entirely to the AI sector.
The ₹2,833.9 crore public issue will open for subscription on Monday, February 9, 2026, and close on February 11. The company is expected to list on the BSE and NSE on February 16.
Growing investor appetite for AI
The IPO arrives amid surging investor interest in AI-driven businesses. Although the issue was initially planned at around ₹4,900 crore, the company reduced the size by nearly 42%, reportedly in view of prevailing market conditions.
Market analysts say the timing still aligns well with strong global enthusiasm for AI investments, positioning Fractal Analytics as a potentially attractive bet for technology-focused investors.
Price band and lot size
The company has fixed a price band of ₹857–₹900 per share. Investors must bid in a minimum lot of 16 shares. At the upper end of the price band, a single lot requires an investment of ₹14,400.
Grey market signals strong listing
Fractal Analytics has generated notable buzz in the grey market. As of Thursday evening, the shares were reportedly trading at a premium of about 16.67% over the issue price. Such grey market activity suggests expectations of a strong listing gain, though experts caution that unofficial market premiums are speculative and not guaranteed indicators of performance.
About the company
Founded in 2000, Fractal Analytics has spent over two decades building capabilities in artificial intelligence and decision intelligence solutions. The company works with global enterprises, helping them leverage AI-driven insights for data-led decision-making across sectors.
With its upcoming IPO, Fractal Analytics is poised to become a key milestone in India’s evolving AI investment landscape, offering public market investors a rare opportunity to participate in a pure-play AI business.
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