Fractal Analytics, one of India’s leading artificial intelligence and analytics companies, has filed draft papers with the Securities and Exchange Board of India for an initial public offering valued at ₹4,900 crore.
The public issue will comprise a fresh share sale worth ₹1,279.3 crore and an offer for sale of ₹3,620.7 crore by existing shareholders. Major investors participating in the offer for sale include Quinag Bidco, with ₹1,462.6 crore worth of shares, and TPG Fett Holdings, with ₹1,999.6 crore worth of shares.
According to the proposed structure, 75 per cent of the offer is reserved for qualified institutional buyers, 15 per cent for non-institutional investors, and 10 per cent for retail investors. In addition, 5 per cent of the issue is set aside for employees.
Funds raised from the fresh issue will be utilised to invest in Fractal USA for debt repayment, establish new offices in India, enhance research and development along with marketing activities under Fractal Alpha, and explore acquisitions and strategic growth opportunities. Group CEO Srikanth Velamakanni and CEO Pranay Agrawal, each holding around 10 per cent of the company’s shares, will not be selling their stakes in this offering.
Founded in 2000 by five graduates of the Indian Institute of Management Ahmedabad, Fractal Analytics achieved unicorn status in 2022. Fractal Analytics serves large global enterprises across industries including consumer packaged goods and retail, technology, media and telecommunications, healthcare, life sciences, and banking, financial services, and insurance.
Fractal’s recent financial performance reflects a strong growth trajectory. In the financial year 2025, revenue increased by 25.9 per cent to ₹2,765 crore compared to ₹2,196 crore in the previous year. Profit after tax rose to ₹220.6 crore from a loss of ₹54.7 crore in the prior year. Backed by notable investors such as TPG, Apax, and Gaja Capital, the company has continued to consolidate its position as a leader in AI-driven decision-making solutions.
Kotak Mahindra Capital, Morgan Stanley India Company, Axis Capital, and Goldman Sachs India Securities are acting as the book-running lead managers for the proposed public issue.
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