Fractal Analytics shares expected to make muted listing on Monday amid flat GMP

Fractal Analytics shares to list on Monday. 

• Fractal Analytics IPO subscribed 2.66 times, lists on Feb 16.
• Shares expected to list flat amid muted grey market premium.
• IPO proceeds to fund debt repayment, R&D, and expansion.

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Shares of Fractal Analytics are expected to list flat on Monday amid a muted grey market premium.

The initial public offering of the AI solutions provider was subscribed 2.66 times on the final day of bidding on Wednesday. The Rs 2,834-crore IPO received bids for 4.94 crore shares against 1.85 crore shares on offer.

The company had earlier raised Rs 1,248.26 crore from anchor investors.

Market trackers indicated the shares were commanding a flat grey market premium in the unofficial market.

The price band for the issue was fixed at Rs 857-900 per share, valuing the firm at nearly Rs 15,500 crore.

Proceeds from the fresh issue will be used to invest in subsidiary Fractal USA for repayment of debt, purchase laptops, set up new offices in India, invest in research and development, support sales and marketing under Fractal Alpha, fund acquisitions and other strategic initiatives, and for general corporate purposes.

The company will debut on the stock exchanges on February 16.

Fractal, co-founded by Srikanth Velamakanni and Pranay Agrawal in 2000, provides data-driven insights and end-to-end AI solutions to large global enterprises across multiple industry verticals.

The company has domain presence across consumer packaged goods and retail, technology, media and telecom, healthcare and life sciences, and banking, financial services and insurance.

As of March 31, 2025, it served global companies including Microsoft, Apple Inc., Nvidia, Alphabet Inc., Amazon, Meta Platforms and Tesla, Inc.

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