Fractal Analytics plans ₹4,900cr IPO post-Budget 2026
What's the story
Fractal Analytics, a leading data analytics and enterprise AI company backed by TPG Capital, is gearing up for its initial public offering (IPO) in February 2026, following the Union Budget presentation, according to Moneycontrol. The company hopes to raise as much as ₹4,900 crore through the IPO process. This will be India's second major tech IPO of 2026 after Amagi Media Labs's ₹1,788-crore share sale that opened on January 13.
Offering details
IPO structure and timeline
The upcoming IPO will be a mix of a fresh offer worth ₹1,279.3 crore and a secondary sale of shares worth ₹3,620.7 crore by its shareholders, including TPG Capital. Initially slated for this month, the launch has now been pushed to post-Budget period due to market volatility usually seen around major events like the budget presentation.
Company profile
Fractal Analytics's business and growth
Founded in 2000, Fractal Analytics is a global enterprise AI company that provides data-driven insights and end-to-end AI solutions to large MNCs. The company's services are divided into two parts: Fractal.ai, which offers its AI services/products on Cogentiq (an agentic AI platform), and Fractal Alpha, which includes independent AI businesses targeting core MNC clients as well as newer markets/geographies.
Fund allocation
IPO proceeds to fund various initiatives
The funds raised from the IPO will be used to repay/prepay borrowings at its US subsidiary. The money will also go into research and development, sales under Fractal Alpha, a new office in India, acquisitions, and general corporate purposes. In FY25, Fractal Analytics reported a revenue of ₹2,816 crore (up from ₹2,241 crore last year) and a profit of ₹220.6 crore (compared to a loss of ₹54.7 crore previously).