Shares of Fractal Analytics made a muted stock market debut on Monday, listing at ₹876 on the National Stock Exchange of India, a 2.66 per cent discount to the issue price of ₹900, while opening flat at ₹900 on the BSE.
The tepid listing reflected cautious investor sentiment toward the analytics firm despite moderate demand during its public offering.
Commenting on the company’s long-term outlook, Dr. Ravi Singh, Chief Research Officer at Master Capital Services Ltd, said, “Fractal Analytics is poised to take advantage of the expected growth of the global AI market to $310 billion by FY30. For long-term investors, Fractal Analytics offers a compelling case to stay invested given its strong positioning in the fast-growing global AI and analytics industry.”
The company’s ₹2,834 crore initial public offering was subscribed 2.66 times overall and saw participation from institutional investors, with anchor investors committing ₹1,248.26 crore ahead of the offer sale.
The price band for the issue was set at ₹857–₹900 per share, valuing the company at close to ₹15,500 crore. Fractal had earlier scaled down the size of the IPO from its originally proposed ₹4,900 crore, with the revised structure comprising a fresh issue of shares worth up to ₹1,023.5 crore and an offer for sale of ₹1,810.4 crore.
Brokerages said the subordinated listing was largely in line with expectations, given valuation considerations and broader market conditions.
According to the company’s offer documents, proceeds from the fresh issue will be deployed to invest in its subsidiary Fractal USA, repay debt, purchase laptops, establish new offices in India, and fund research and development as well as sales and marketing initiatives under its Fractal Alpha platform.
Additional funds are earmarked for acquisitions, strategic initiatives, and general corporate purposes.
With its listing completed, investors are expected to track the company’s execution on growth initiatives and global expansion strategy as it begins trading as a publicly listed analytics-focused technology firm.
Published on February 16, 2026