Fractal Analytics IPO Opens for Subscription: Price Band, GMP, Subscription Status and Listing Timeline Explained

The Fractal Analytics IPO has officially opened for public subscription in India, drawing attention from investors as one of the largest technology initial public offerings of 2026 so far. The three-day subscription window began on 9 February 2026 and will close on 11 February 2026. This IPO represents a significant milestone for one of India’s leading artificial intelligence and analytics firms as it seeks fresh capital and wider market participation.

Fractal Analytics IPO Price Band, Issue Size and Lot Size Details

Fractal Analytics has fixed its IPO price band at ₹857 to ₹900 per share. The total issue size is approximately ₹2,833.90 crore, consisting of both fresh shares and an offer for sale by existing investors.

The breakdown is as follows:

• Fresh issue of equity shares worth around ₹1,023.50 crore.
• Offer for Sale (OFS) of shares worth approximately ₹1,810.40 crore.

Retail investors must apply in lots of 16 shares, meaning the minimum investment at the upper end of the price band is around ₹14,400. The IPO is set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Prior to the subscription opening, 52 anchor investors, including major domestic and global funds were allotted shares at the top of the price band, raising about ₹1,248.3 crore, signalling strong institutional interest.

Subscription Status on Day One and Investor Response

On the first day of subscription, the Fractal Analytics IPO saw a modest uptake from investors, with subscription numbers slowly building up. Early data suggests that only a small percentage of the total 1.85 crore shares on offer were bid for within the initial hours of the opening day, reflecting a cautious approach among some market participants.

Market analysts say that early subscription figures can fluctuate over the three-day period as more investors evaluate the pricing and market conditions before placing bids. Overall subscription trends will become clearer as the IPO progresses toward the final day on 11 February.

Grey Market Premium (GMP), Anchor Investors and Market Confidence

A key informal indicator of investor sentiment ahead of listing is the grey market premium (GMP), which reflects unofficial trading interest. Recent GMP figures have shown moderate positive movement, suggesting an expectation of some listing gain, despite broader market caution.

The participation of anchor investors, who committed significant capital before the IPO opened, is seen as a vote of confidence in the firm’s growth potential, especially in the high-growth artificial intelligence space.

IPO Timeline: Allotment Date, Listing Date and What Happens Next

Here are the key dates for investors to watch:

• Subscription Opens: 9 February 2026
• Subscription Closes: 11 February 2026
• Basis of Allotment: Expected on 12 February 2026
• Shares Credited to Demat Accounts: Around 13 February 2026
• Listing on BSE & NSE: Tentatively 16 February 2026

Once the IPO closes, bids will be processed and investors will find out whether they have been allotted shares. If successful, these shares are expected to be credited before the listing day.

Why the Fractal Analytics IPO Matters

Fractal Analytics, founded in 2000, is a global AI and advanced analytics firm serving major clients across industries, including technology, finance and consumer goods. The company has grown steadily, using AI-driven solutions to help businesses make data-led decisions.

The funds raised from the fresh issue are expected to support debt repayment, expansion of operations, including in the United States, investment in research and development, and other corporate purposes. Meanwhile, the offer for sale gives early investors a chance to reduce their holdings and realise some returns.

With a mix of strong institutional support, a solid business model in the AI sector, and careful investor scrutiny, the Fractal Analytics IPO is one of the most closely watched listings in India’s 2026 market. Whether it inspires broader interest in AI-focused public offerings remains to be seen in the coming weeks.