Fractal Analytics Files IPO To Raise ₹2,800 Crore

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.