Fractal Analytics is launching an IPO on February 9 to raise over ₹2,800 crore, with a price band of ₹857–900 per share and promoters retaining about 17% post-offer. Net proceeds will fund Fractal USA debt repayment (₹264.9 crore), R&D and Fractal Alpha growth (₹355.1 crore), and office and capex; however, the company’s valuation implies roughly 70x FY25 P/E amid modest revenue growth and AI disruption risks.
Key Points
- 1Launches IPO to raise ₹2,800+ crore at ₹857-900/share, promoters retain ~17%.
- 2Faces demanding ~70x FY25 P/E despite modest 18% CAGR and sub-15% EBITDA margins.
- 3Exposed to AI disruption risk as services-heavy model may lose project-based revenue.
Scoring Rationale
Timely, detailed IPO analysis scoring high for credibility and investor relevance, limited by company-specific scope and non-breakthrough novelty.
Sources
Public references used for this report.
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