Fractal Industries IPO : GMP, Price, Analysis, And Details

Fractal Industries IPO- Company Analysis

Fractal Industries IPO under the SME IPO category is a bookbuild issue of Rs. 49 Cr by Fractal Industries Limited and end-to-end warehousing and logistics services to e-commerce platforms like Myntra, Ajio, Flipkart, and others. It also offers design, sourcing, and manufacturing of garments, as well as full-service garment manufacturing and supply chain services.

The company operates throughout India and aims to produce high-quality, fast turnaround apparel for e-commerce. Additionally, the company provides services such as Product & order management, Inventory & returns, Integrated logistics, Data & analytics, Multi-channel sales support, and Order anomaly detection.

Business Models: 

• Outright Sale of Garments.

• PPMP Model (Pure Play Marketplace).

• Direct Sale - Own Brand Manufacturing.

Fractal Industries IPO Details

The Fractal Industries IPO date of opening is 16 Feb 2026, its initial public offering will end on 18 Feb, IPO allotment on Feb 19 and refund initiation on Feb 20, 2026.

The Rs. 49 crore new SME IPO comprises a wholly fresh issue of 0.23 crore shares.

The Fractal Industries IPO listing date (expected) might be on Monday, Feb 23, 2026, and listing at the BSE and SME. 

The Fractal Industries IPO price band is Rs. 205 to Rs. 216.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Feb 16, 2026
IPO Closing Date	Feb 18, 2026
IPO Allotment Date	Feb 19, 2026
Refund Initiation	Feb 20, 2026
IPO Listing Date	Feb 23, 2026

 

Click to open demat account and apply for the IPO.

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	51.42	42.27	41.21
Total Income	85.51	50.01	88.91
Profit After Tax	7.54	2.27	2.66
EBITDA	11.15	4.05	4.13
Net Worth	15.70	8.16	5.89
Reserves and Surplus	15.20	7.66	5.39
Total Borrowing	27.61	21.88	14.05

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	-351.93	-1001.43	801.44
Net Cash Flow Investing Activities	-43.18	-485.86	-288.30
Net Cash Flow Financing Activities	393.48	686.45	293.48

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding of working capital requirements. ~ Rs. 36.50 Cr.

• General Corporate Purposes. 

 

Listed Peers of Fractal Industries Ltd.

Name of Company	Face Value (₹)	Basic EPS (₹)	PE Ratio (x)
Bang Overseas Limited	10	(1.60)	NA

 

Valuation

KPI	Value
ROE	63.20%
ROCE	25.07%
Debt / Equity	1.76%
RoNW	48.02%
PAT Margin	8.82%
EBITDA Margin	13.04%
	7.57%

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 13.70 from the last year, the resulting P/E ratio is 15.76x.

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IPO's Strengths

• Senior Management Team and Skilled Promoters.

• Advanced and Integrated Technology for Warehouse Management Systems (WMS).

• Proficiency in Reverse Logistics for Clothing (Returns Management).

• Inspection and Quality Control.
  
  

IPO's Weaknesses

• Concentration risk is created by a heavy reliance on important clients like Myntra and Ajio for large-scale contracts.

• A high reliance on working capital as a result of e-commerce payment cycles (commission deductions, biweekly settlements).

• Concentrating on Tier-1 markets can restrict penetration in Tier2/3 cities, where e-commerce is expanding at a faster rate.

Fractal Industries IPO GMP (Grey Market Premium)

Fractal Industries IPO GMP today has not started yet as of 06 Feb 2026 while writing this information. 

 

Fractal Industries IPO Summary

IPO Opening & Closing Date	16 Feb, 2026 to 18 Feb, 2026
Face Value	Rs. 10 per Share
Issue Price	Rs. 205 to Rs. 216 per Share.
Lot Size	600 Shares
Issue Size	22,68,600 Shares (Rs. 49 Cr)
Offer for Sale	-
Fresh Issue	22,68,600 Shares (Rs. 49 Cr)
Listing at	BSE, SME
Issue Type	Bookbuild issue IPO
Registrar	Kfin Technologies Ltd.

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1200 Shares) for Rs. 2,59,200, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (1800 Shares) for Rs. 3,88,800.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

Fractal Industries IPO Allotment Status

To check the Fractal Industries IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Fractal Industries Ltd.

• Mr. Pankaj Bishwanath Agrawal 

• Mrs. Priti Pankaj Agrawal.

Pre-Issue Promoter Shareholding	97.15%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Finaax Capital Advisors Private Limited.
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

 

Conclusion

The fast-growing e-commerce logistics and garment supply chain industry is the focus of Fractal Industries IPO, a small SME issue; nonetheless, the risk of client concentration and significant working capital requirements should be carefully considered.

Although the price seems reasonable at a P/E of about 15.7x with a solid ROE, investors are nevertheless concerned about mounting debt and negative operating cash flows. Investors in SME IPOs should only apply after evaluating their risk tolerance, liquidity limitations, and long-term company viability as opposed to immediate listing benefits.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.