Apax Partners, TPG-backed AI firm Fractal Analytics files RHP, to launch Rs 2,834-crore IPO on February 9

Fractal Analytics IPO News

• Fractal Analytics to launch Rs 2,834-crore IPO on February 9
• One-day IPO anchor book opens on February 6
• IPO is a mix of fresh issue of Rs 1,023.5 crore, and offer-for-sale of Rs 1,810.4 crore

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Apax Partners, and TPG-backed enterprise artificial intelligence company Fractal Analytics has filed Red Herring Prospectus (RHP) with Registrar of Companies stating the Rs 2,834-crore initial share sale will open for public subscription on February 9.

The one-day IPO anchor book will be launched on February 6, while the bidding will remain open for the public till February 9. The IPO share allotment will be finalised by February 12, while Fractal Analytics shares will be available for trading on the bourses effective February 16.

Srikanth Velamakanni and Pranay Agrawal-founded Fractal Analytics that provides AI solutions through its two segments - Fractal.ai and Fractal Alpha catering to several industries and business functions is set to raise Rs 1,023.5 crore through issue of fresh shares, while four existing shareholders will be offloading shares worth Rs 1,810.4 crore.

Apax Partners-managed Quinag Bidco, TPG Fett Holdings, GLM Family Trust, and Satya Kumari Remala and Rao Venkateswara Remala will be selling shareholders in the offer-for-sale.

Fractal Analytics has reserved up to 75 percent of the offer for qualified institutional buyers, 15 percent for non-institutional investors, and the remainder 10 percent shares for retail investors.

The India’s leading pure-play enterprise data, analytics and AI company will spend Rs 264.9 crore of fresh issue proceeds for repaying debt availed by subsidiary Fractal USA, Rs 57.1 crore for purchase of laptops, and Rs 121.1 crore for setting-up new office premises in India.

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Further, Rs 355.1 crore will be utilised for research and development; and sales and marketing under Fractal Alpha, and the remainder funds for inorganic growth through unidentified acquisitions and general corporate purposes.

Fractal Analytics promoted by Srikanth Velamakanni, Pranay Agrawal, Chetana Kumar, Narendra Kumar Agrawal and Rupa Krishnan Agrawal has recorded profit of Rs 70.9 crore for six months period ended September 2025, falling 2.7 percent compared to Rs 72.9 crore in corresponding period of previous fiscal. However, revenue increased nearly 20 percent to Rs 1,559 crore, up from Rs 1,300.7 crore in the same period.

For the fiscal year ended March 2025, the company has reported profit of Rs 220.6 crore against loss of Rs 54.7 crore in the previous year, while the revenue in the same period soared 25.9 percent to Rs 2,765.4 crore, up from Rs 2,196.3 crore

The merchant bankers managing the Fractal Analytics IPO are Kotak Mahindra Capital Company, Axis Capital, Morgan Stanley India Company, and Goldman Sachs (India) Securities.