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Fractal Analytics, an enterprise Artificial Intelligence (AI) company is set to launch its Initial Public Offering (IPO) in the first half of 2026, sources with knowledge of the matter told CNBC-TV18.
Size of the IPO though, has been trimmed down to ₹2,800 crore from the ₹4,900 crore that the company had earlier been targeting, the sources added.
The IPO is likely to comprise of a fresh issue of shares worth ₹1,000 crore with the rest being an Offer for Sale (OFS). The IPO is likely to value the company at a ₹18,000 crore market capitalization, the sources said.
Morgan Stanley, Goldman Sachs, Kotak Mahindra Capital and Axis Capital are bankers to the issue.
According to the Draft Red Herring Prospectus (DRHP) of the company, the company intends to utilize the proceeds for:
The company had also raised ₹1,700 crore from high net-worth individuals (HNIs) in a pre-IPO round in June 2025.
CNBC-TV18 has reached out to the management of Fractal Analytics and a response is awaited.
Size of the IPO though, has been trimmed down to ₹2,800 crore from the ₹4,900 crore that the company had earlier been targeting, the sources added.
The IPO is likely to comprise of a fresh issue of shares worth ₹1,000 crore with the rest being an Offer for Sale (OFS). The IPO is likely to value the company at a ₹18,000 crore market capitalization, the sources said.
Morgan Stanley, Goldman Sachs, Kotak Mahindra Capital and Axis Capital are bankers to the issue.
According to the Draft Red Herring Prospectus (DRHP) of the company, the company intends to utilize the proceeds for:
- Investment in one of their Subsidiaries, Fractal USA, for pre-payment and/ or scheduled repayment, in full or in part, of its borrowings
- Purchase of Laptops
- Setting up of new office premises in India
- Investments in R&D, sales and marketing under Fractal Alpha, and
- Funding inorganic growth through unidentified acquisitions and other strategic initiatives, and general corporate purposes
The company had also raised ₹1,700 crore from high net-worth individuals (HNIs) in a pre-IPO round in June 2025.
CNBC-TV18 has reached out to the management of Fractal Analytics and a response is awaited.
