Fractal Analytics files for ₹4,900 crore IPO
Fractal Analytics, a major AI and data analytics firm, is gearing up for a ₹4,900 crore ($555 million) IPO in India.
The offer includes ₹1,279 crore in new shares and ₹3,621 crore from existing investors like Apax and TPG selling their stakes.
Fractal's journey and leadership stakes
Started by IIM Ahmedabad grads back in 2000, Fractal helps Fortune 500 companies make smarter decisions using AI-driven analytics.
They work with big names across finance, healthcare, and retail. The company hit unicorn status in 2022.
Group Chief Executive Officer Srikanth Velamakanni and CEO Pranay Agrawal—each holding about 10%—aren't selling their shares this time.
Financials and market context
Fractal's revenue jumped from ₹1,985 crore in FY23 to ₹2,765 crore in FY25—a solid 26% yearly growth.
Most of their business comes from overseas (mainly the US), which means global trends really matter for them.
They're joining a record-breaking year for Indian IPOs but will have to navigate tough competition and fast-changing tech to stand out.