Fractal Analytics Files Rs 4,900 Crore IPO Draft with SEBI, Aiming NSE and BSE Listing 

Mumbai, Aug 13, 2025: Fractal Analytics, a top AI and analytics services company in India, has submitted its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 4,900 crore via its initial share sale offer (IPO). The company plans to list its shares on the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE) by December 2025.

Rs 4,900 Crore IPO Includes Fresh Issue of Rs 1,279 Crore and Offer-for-Sale of Rs 3,621 Crore Backed by Leading Investors

The IPO includes a fresh issue of equity shares amounting to Rs 1,279.3 crore, earmarked for business growth and repayment of debt and an offer-for-sale amounting to Rs 3,620.7 crore by present shareholders. Private equity giants Apax Partners (via Quinag Bidco) and TPG Fett Holdings will be offloading shares worth Rs 1,462 crore and Rs 1,999 crore, respectively.

Additionally, angel investors Gulu Mirchandani’s GLM Family Trust and Rao Remala will be offloading shares valued at Rs 129 crore and Rs 29 crore. Notably, the company’s founders, Srikanth Velamakanni and Pranay Agrawal, each hold about 10% equity and will not be selling any shares in this IPO.

Fractal Analytics Posts Rs 2,765 Crore Revenue and Rs 220 Crore Profit in FY25, Marking a Strong Turnaround from Previous Year Losses

The company posted Rs 2,765.4 crore in revenuefor fiscal year 2025, a strong 25.9% growth from Rs 2,196.3 crore in FY24. Profitability has also seen a sharp recovery, with net profit increasing to Rs 220.6 crore in FY25 from a loss of Rs 54.7 crore in the previous year.

This turnaround reflects good cost management and increased client engagements, especially AI-based services for Fortune 500 clients. The US market continues to be the biggest revenue generator at 65%, followed by Europe at 16%.

Strategic Use of IPO Proceeds: Debt Payoff, Infrastructure Development, and AI Research to Drive Growth

From the total proceeds to be raised, Rs 264.9 crore will be used for repayment of debt of its subsidiary Fractal USA, Rs 57.1 crore for technology upgradation, such as laptops, and Rs 121.1 crore for setting up new office complexes in India.

In addition, Rs 355.1 crore will go towards research and development and sales and marketing in the Fractal Alpha segment. The remaining amount will be utilised to support inorganic growth via acquisitions and meet general corporate purposes.

Fractal Analytics: AI Pioneer with Global Clients, Unicorn Company, and Growth Plans

Fractal Analytics was established in 2000 by a team of Indian Institute of Management, Ahmedabad graduates, and has its base in Mumbai and New York. It was declared as India’s first AI unicorn in 2022 and is presently valued at $2.4 billion after a recent fundraise of $172 million. Fractal Analytics clients include top MNCs such as Citigroup, Nestle, Philips, and Mars, offering AI and analytics solutions that drive innovation and efficiency. Its collaboration with OpenAI further highlights its emphasis on advanced generative AI technology.