Fractal Industries IPO will open for public subscription on February 16, 2026 and will close on February 18, 2026. The IPO is being launched by Fractal Industries Ltd. as a book build issue. The company plans to raise around ₹49 crores through a fresh issue, while the offer for sale component consists of up to [.] equity shares having a face value of ₹10 each.
The IPO is priced in the range of ₹205 to ₹216 per share. The basis of allotment is expected to be finalised on February 20, 2026 and the shares are proposed to be listed on BSE SME on February 24, 2026. The issue is primarily targeted at long-term investors looking for exposure to a growing apparel and supply chain services company.
Contents
Fractal Industries IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | February 16, 2026 |
| IPO Close Date | February 18, 2026 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹205 to ₹216 per share |
| Issue Size | Approx ₹49 crores |
| Fresh Issue | Approx ₹49 crores |
| Issue Type | Book build issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
Fractal Industries IPO
Open: 16-18 Feb
Issue Size: ₹49 Cr.
Objective: To strengthen garment operations and general business funds.
Exchange: BSE SME
Fractal Industries IPO Review
The overall view on the Fractal Industries IPO is neutral. The company has shown strong recovery in revenue and profitability in FY2025 after a weaker FY2024, supported by growing demand from large online fashion and retail platforms.
Healthy return ratios and improving margins indicate operational strength. However, the relatively higher leverage and SME listing risks may limit near-term comfort for conservative investors. Long-term investors with moderate risk appetite may consider the issue based on business scalability and improving financial performance.
Fractal Industries IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1,200 | ₹2,59,200 |
| Retail Maximum | 2 | 1,200 | ₹2,59,200 |
| S-HNI Minimum | 3 | 1,800 | ₹3,88,800 |
| S-HNI Maximum | 7 | 4,200 | ₹9,07,200 |
| B-HNI Minimum | 8 | 4,800 | ₹10,36,800 |
IPO Reservation
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | 6,45,000 shares | 28.43% |
| QIB (Excluding Anchor) | 4,30,800 shares | 18.99% |
| NII | 3,24,000 shares | 14.28% |
| Retail | 7,54,800 shares | 33.27% |
Fractal Industries IPO Anchor Investors
| Particulars | Details |
|---|---|
| Anchor Bidding Date | February 13, 2026 |
| Anchor Investors List | View PDF |
| Shares Offered | 6,45,000 shares |
| Anchor Size | ₹13.93 crore |
| Lock-in end date (50% – 30 days) | March 21, 2026 |
| Lock-in end date (50% – 90 days) | May 20, 2026 |
Fractal Industries IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | February 16, 2026 |
| IPO Close Date | February 18, 2026 |
| Basis of Allotment | February 20, 2026 |
| Refunds | February 23, 2026 |
| Credit to Demat Account | February 23, 2026 |
| IPO Listing Date | February 24, 2026 |
| IPO Bidding Cut-off Time | February 18, 2026 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Mr. Pankaj Bishwanath Agrawal and Mrs. Priti Pankaj Agrawal.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding (Pre Issue) | 55,80,267 | 97.15% |
| Promoter Holding (Post Issue) | 78,48,867 | –% |
Objects of the Issue
The company proposes to utilise the net proceeds mainly towards funding its working capital requirements amounting to ₹36.50 crores. The remaining amount will be used for general corporate purposes to support operational and administrative needs and to strengthen overall business activities.
About Fractal Industries IPO
Fractal Industries operates as a full-service garment manufacturing and supply chain solutions company. It designs, sources and manufactures apparel while also providing end-to-end warehousing and logistics support for major online marketplaces such as Myntra, Ajio and Flipkart.
The company focuses on fast-moving fashion categories and supports e-commerce brands with services including product and order management, inventory handling, reverse logistics and integrated fulfilment solutions across India.
Fractal Industries IPO Company Financial Report
Amount in ₹ crores
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | 88.91 | 85.70 | 2.66 | 41.21 |
| 2024 | 50.01 | 47.27 | 2.27 | 42.27 |
| 2025 | 85.51 | 76.41 | 7.54 | 51.42 |
| Sep 2025 | 47.33 | 39.20 | 6.78 | 62.03 |
Business Analysis and Financial Health
Fractal Industries has demonstrated a sharp turnaround in operational performance during FY2025, driven by higher order volumes from established online fashion and retail platforms and improved execution of its supply chain services.
Revenue increased to ₹85.51 crores in FY2025 from ₹50.01 crores in FY2024, while profit after tax rose significantly to ₹7.54 crores. The latest available performance up to September 2025 further reflects sustained profitability and asset expansion, indicating improving capacity utilisation and business scale.
The company’s strong return on equity and healthy margins highlight operational efficiency. However, a debt-to-equity ratio of 1.76 suggests reliance on borrowings for working capital, which investors should monitor closely over the medium term.
Fractal Industries IPO Valuation – FY2025
| KPI | Values |
|---|---|
| ROE | 63.20% |
| ROCE | 25.07% |
| EBITDA Margin | 13.04% |
| PAT Margin | 8.82% |
| Debt to equity ratio | 1.76 |
| Earnings Per Share (EPS) | ₹13.70 (Basic) |
| Price/Earnings (P/E) | N/A |
| Return on Net Worth (RoNW) | 48.02% |
| Net Asset Value (NAV) | ₹28.54 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Bang Overseas Limited | (1.60) | – | (2.54%) | 64.23 | ₹191.00 Cr |
IPO Lead Managers (Merchant Bankers)
| Name |
|---|
| Finaax Capital Advisors Private Limited |
Company Address
| Particular | Details |
|---|---|
| Company Name | Fractal Industries Ltd. |
| Address | Gala 212, Bhullar Star Indl. Estate, Andheri Kurla, Andheri East, Mumbai, Maharashtra – 400072 |
| Phone | +91 22-2852 8352 |
| investors@fractalindustries.in | |
| Website | https://fractalindustries.in/ |
IPO Registrar
| Particular | Details |
|---|---|
| Registrar | Kfin Technologies Ltd. |
| Phone | 04067162222, 04079611000 |
| fractal.ipo@kfintech.com | |
| Website | https://ipostatus.kfintech.com/ |
Fractal Industries IPO FAQs
What is Fractal Industries IPO?
Fractal Industries IPO is an SME IPO. The company plans to raise ₹49 crores through the public issue. The price band is fixed at ₹205 to ₹216 per equity share and the IPO will be listed on BSE SME.
When will Fractal Industries IPO open for subscription?
The IPO will open on February 16, 2026 for QIB, NII and retail investors and will close on February 18, 2026.
What is Fractal Industries IPO investors’ portion?
The investors’ portion is 50% for QIB, 15% for NII and 35% for retail investors.
How to apply for Fractal Industries IPO?
Investors can apply through ASBA using their bank account, via UPI through stock brokers, or by submitting an offline application form through their broker.
What is Fractal Industries IPO issue size?
The total issue size of the IPO is ₹49 crores.
What is Fractal Industries IPO price band?
The price band is ₹205 to ₹216 per share.
What is Fractal Industries IPO lot size?
The minimum bid size is 1,200 shares for an amount of ₹2,59,200.
What is the Fractal Industries IPO allotment date?
The allotment is expected to be finalised on February 20, 2026.
What is the Fractal Industries IPO listing date?
The IPO is scheduled to be listed on February 24, 2026 on BSE SME.
Expert Comment
Fractal Industries presents a scalable business model supported by integrated manufacturing and supply chain capabilities tailored for high-growth online marketplaces. The strong improvement in FY2025 profitability and return ratios reflects operational stabilisation and better cost control.
While leverage remains moderately high, the use of IPO proceeds for working capital is expected to strengthen execution capacity. Investors with a long-term view and moderate risk tolerance may consider the issue, keeping in mind the inherent volatility associated with SME-listed companies.
