Three IPOs to Watch This Week: Companies to Raise ₹3,871 Crore; Check GMP Trends

New Delhi: The Indian stock market is set for significant activity this week as three companies launch their Initial Public Offerings (IPOs) between February 9 and February 16, 2026. Collectively, these IPOs are expected to raise ₹3,871 crore. Two of the IPOs — Fractal Analytics and Aye Finance — are from the main board, while the third, Marushika Technology, is from the SME segment.

1. Fractal Analytics – The Largest IPO of the Week

Fractal Analytics, India’s first pure-play artificial intelligence (AI) company to go public, is opening a ₹2,834 crore IPO. The issue opens on February 9 and closes on February 11, with listing scheduled for February 16 on both BSE and NSE.

• Breakup: ₹1,023 crore in fresh shares; ₹1,810 crore in shares by existing shareholders.
• Price Band: ₹857–₹900 per share.
• Minimum Investment: 16 shares, costing ₹14,400 at the upper price band.

This IPO is expected to be the week’s most closely watched issue due to its size and the company’s AI focus.

2. Aye Finance – Focused on MSME Lending

Aye Finance, an NBFC providing secured and unsecured loans to small and medium businesses, is launching a ₹1,010 crore book-built IPO. The offer opens February 9 and closes February 11, with listing on February 16.

• Breakup: ₹710 crore in fresh shares; ₹300 crore from existing shareholders.
• Business Coverage: The company serves MSMEs in 18 states and three Union Territories, across manufacturing, trading, services, and agriculture sectors.

3. Marushika Technology – SME Segment IPO

Marushika Technology, from the SME segment, aims to raise around ₹27 crore through a fresh issue. The IPO opens on February 12 and closes February 16, with expected listing on February 19.

• Shares Issued: 23 lakh new shares.
• Price Band: ₹111–₹117 per share.
• Lot Size: 1,200 shares per lot.

Grey Market Premium (GMP) Trends

As of Monday morning 8:30 AM, the grey market premium (GMP) shows a modest uptick for Fractal Analytics, at ₹13 per share, implying a potential listing gain of 1.44%. Both Aye Finance and Marushika Technology showed a GMP of zero, indicating limited grey market activity so far.

Investors are closely watching these IPOs, particularly Fractal Analytics, which is expected to attract strong interest due to its AI focus and main board listing.