Fractal Industries Limited
Bookbuilding IPO · BSE
- Price band
- ₹205 - ₹216
- Lot size
- 600 shares
- Issue amount
- ₹49 cr
- Total subscription
- 5.52×
- Opens
- 16 Feb 2026
- Closes
- 18 Feb 2026
- Allotment
- 20 Feb 2026
- Listing
- 24 Feb 2026
Offer at a glance
Issue overview
- Issue size
- 22,68,600 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,23,000
- Fresh issue
- ₹49 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,29,600
- Issue type
- Bookbuilding IPO
- Shares before issue
- 55,80,267
- Shares after issue
- 78,48,867
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 1,200 | ₹2,59,200 |
| sHNI | 3 | 1,800 | ₹3,88,800 |
| bHNI | 8 | 4,800 | ₹10,36,800 |
Share reservation
Subscription & GMP
Subscription by category
Reported 18 Feb 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 8 |
| NIB | 0 | 689 |
| RETAIL | 629 | 2,573 |
| HNIs(10L +) | 120 | 416 |
| HNIs (2-10L) | 60 | 273 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 9.31 | 55.34 |
| FIIs | 0 | 12.52 |
| Others | 0 | 34.81 |
| RETAIL | 16.3 | 66.69 |
| HNIs 2+ | 2.33 | 11.31 |
| HNIs 10+ | 4.67 | 46.54 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 12.15 | 13.7 | 4.12 | 4.83 |
| ROE | 34.52 | 63.2 | 32.27 | 58.18 |
| ROCE | 18.99 | 25.07 | 12.33 | 19.14 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 15.99 | 0 | 0 |
| POST IPO(PE) | 12.5 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Fractal Industries Ltd | 15.99 | 216.00 | 10.00 | 28.54 | 48.02 | 13.70 |
| Bang overseas Limited | 0 | 46.50 | 10.00 | 64.23 | -2.54 | -1.60 |
Company information
Company profile
Fractal Industries is a garment manufacturing and supply chain company that designs, sources, and manufactures apparel while also managing warehousing and logistics for leading e-commerce platforms such as Myntra, Ajio, and Flipkart. The company operates across India and focuses on producing fast-selling, high-quality clothing for online marketplaces, along with services like order and product management, inventory and return handling, logistics support, data analysis, multi-channel sales assistance, and order issue tracking. Its business includes selling garments in bulk to platforms, manufacturing products for marketplace-owned brands under the PPMP model, and selling directly to customers through its own brand “7ate9” launched in May 2025. Fractal Industries has a manufacturing unit in Mumbai with a monthly capacity of over 3,00,000 garments and operates warehouses across Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka.
Strengths
- End-to-end integrated business model: The company manages design, manufacturing, warehousing, logistics, and returns under one roof, ensuring faster turnaround and better supply-chain control.
- Strong partnerships with leading e-commerce platforms: Tie-ups with Myntra, Ajio, and Flipkart provide consistent order flow and strengthen credibility in the online apparel space.
- Advanced technology and reverse logistics expertise: A robust Warehouse Management System (WMS) and strong returns-handling capabilities help reduce losses, improve inventory accuracy, and support high-volume e-commerce operations.
Risk factors
- High dependence on e-commerce platforms: A large share of revenue comes from a few major marketplaces, making the company vulnerable to pricing pressure and policy changes.
- Thin margins in marketplace-driven models: Business models like PPMP and outright sales have lower margins due to high competition, platform commissions, and operational expenses.
- Own-brand business at an early stage: The newly launched in-house brand “7ate9” has a limited track record and faces strong competition, requiring continuous marketing efforts and working capital support.
Promoters
Mr. Pankaj Bishwanath Agrawal
Mrs. Priti Pankaj Agrawal
Registrar & documents
Lead manager
Finaax Capital Advisors Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Gala 212, Bhullar Star Indl. Estate, Andheri Kurla Andheri East, Mumbai, Maharashtra, 400072
+91 22-2852 8352
[email protected]Company website ↗Understanding FIL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.