Fractal Industries IPO was introduced as a Book Built SME public offering by Fractal Industries Limited. The issue comprised only a fresh issue of equity shares, with no offer for sale by existing shareholders. The capital raised through the IPO is intended to support the company’s future expansion plans, strengthen its working capital position, invest in operational infrastructure, and meet general corporate requirements. After the completion of the public issue process, the company’s equity shares were admitted for trading on the BSE SME platform.
Fractal Industries Limited is engaged in providing integrated apparel manufacturing and supply chain solutions. The company manages multiple stages of the value chain, including product sourcing, garment production, warehousing, inventory management, order processing, packaging, and fulfilment services. By combining manufacturing capabilities with logistics support, it offers end-to-end solutions to businesses operating in the fashion and e-commerce sectors.
Its operations are built around delivering efficient supply chain management for brands, online sellers, and retailers. Along with apparel manufacturing, the company provides inventory storage, quality inspection, order fulfilment, dispatch management, and reverse logistics services, enabling clients to streamline their distribution activities through a single service provider.
The company follows an integrated operating model that combines manufacturing expertise with technology-enabled warehouse and fulfilment solutions. Continuous investment in infrastructure, operational efficiency, and process improvements helps the company cater to growing customer requirements while supporting long-term business development.
India’s organised apparel manufacturing and e-commerce fulfilment industry has witnessed steady expansion due to increasing online retail activity, changing consumer buying patterns, and rising demand for efficient supply chain management. Businesses are increasingly seeking integrated partners capable of managing production as well as logistics, creating favourable opportunities for companies operating in this segment.
Since the IPO has already been completed and the shares are listed on the stock exchange, investors should analyse the company’s financial performance, business fundamentals, valuation, industry outlook, competitive position, and long-term growth prospects before making any investment decision.
Fractal Industries IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Fractal Industries IPO |
| Company Name | Fractal Industries Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹205 to ₹216 Per Share |
| Issue Size | ₹49.00 Crore |
| Fresh Issue | ₹49.00 Crore |
| Offer for Sale | Nil |
| Total Shares Offered | 22,68,600 Equity Shares |
| IPO Open Date | 16 February 2026 |
| IPO Close Date | 18 February 2026 |
| Basis of Allotment | 20 February 2026 |
| Refund Initiation | 23 February 2026 |
| Shares Credited to Demat Account | 23 February 2026 |
| Listing Date | 24 February 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 600 Equity Shares |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Finaax Capital Advisors Private Limited |
The public issue consisted entirely of a fresh issue of equity shares. The company proposed to utilise the net proceeds for expanding business operations, strengthening infrastructure, supporting working capital requirements, and meeting other general corporate purposes that contribute to its future growth plans.
Fractal Industries IPO Dates
The important milestones relating to the Fractal Industries IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 16 February 2026 |
| IPO Closing Date | 18 February 2026 |
| Basis of Allotment | 20 February 2026 |
| Refund Initiation | 23 February 2026 |
| Shares Credited to Demat Account | 23 February 2026 |
| Listing Date | 24 February 2026 |
Following the completion of the allotment process, successful applicants received the allotted equity shares in their demat accounts before the commencement of trading on the BSE SME platform. Investors who did not receive an allotment were eligible for the refund process as per the IPO schedule.
Fractal Industries IPO Reservation
The equity shares offered through the IPO were distributed among various investor categories in accordance with the SME IPO allocation guidelines prescribed under the applicable regulations.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation for each investor category depended on the valid bids received during the subscription period and was determined according to the applicable allotment rules.
Fractal Industries IPO Lot Size
Applications for the IPO were accepted only in the prescribed lot sizes.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (1,200 Shares) | ₹2,59,200 |
| Retail Maximum | 2 Lots (1,200 Shares) | ₹2,59,200 |
| HNI Minimum | 3 Lots (1,800 Shares) | ₹3,88,800 |
The investment amounts shown above have been calculated using the upper end of the IPO price band of ₹216 per equity share. Applicants were required to apply in multiples of the prescribed lot size in accordance with the IPO guidelines.
About Fractal Industries Limited
Fractal Industries Limited is engaged in the apparel manufacturing and integrated supply chain solutions business. The company provides end-to-end services that cover product sourcing, garment manufacturing, warehousing, inventory management, order processing, packaging, and logistics support. By offering multiple services through a single platform, it helps customers simplify their supply chain operations while improving operational efficiency.
Over the years, the company has focused on developing an integrated business model that combines manufacturing capabilities with technology-enabled warehousing and fulfilment services. This approach enables it to manage different stages of the supply chain while providing customised solutions based on the operational requirements of its clients.
The company serves businesses operating across fashion, apparel, retail, and e-commerce sectors. Its integrated infrastructure allows clients to outsource manufacturing as well as fulfilment activities, helping them optimise inventory management and reduce operational complexities.
Fractal Industries Limited continues to strengthen its operational capabilities by improving manufacturing efficiency, expanding warehousing infrastructure, adopting modern technologies, and enhancing customer service standards. The company aims to build long-term relationships with its customers by delivering reliable and scalable supply chain solutions.
Business Operations
Fractal Industries Limited provides a broad range of manufacturing and supply chain management services that support businesses from production to final product delivery.
- Apparel Manufacturing – The company manufactures garments for brands, retailers, private labels, and e-commerce businesses while maintaining quality standards throughout the production process.
- Product Sourcing – It procures raw materials, fabrics, accessories, and other production inputs from approved suppliers to support timely manufacturing activities.
- Warehousing Services – The company operates warehouse facilities for inventory storage, stock handling, and efficient product management before dispatch.
- Inventory Management – Inventory is monitored using systematic processes that help businesses maintain stock accuracy and improve order fulfilment efficiency.
- Order Fulfilment – The company processes customer orders, prepares shipments, and manages dispatch operations for timely deliveries.
- Packaging Solutions – Products are packed according to customer specifications and marketplace requirements before shipment.
- Quality Inspection – Various quality control procedures are carried out during manufacturing and before dispatch to ensure product consistency.
- Logistics Coordination – The company coordinates transportation and delivery activities to ensure efficient movement of goods across the supply chain.
- Reverse Logistics – Returned products are managed through organised reverse logistics processes that include inspection, sorting, and inventory updates.
- Value-Added Services – Additional services such as labelling, barcode application, product tagging, kitting, and customised packaging are also offered to clients.
Industry Overview
India’s apparel manufacturing industry continues to play an important role in the country’s industrial and export sectors. Rising disposable incomes, changing fashion preferences, organised retail expansion, and increasing online shopping have contributed to steady growth in garment production and apparel consumption.
The rapid expansion of e-commerce has significantly increased demand for integrated warehousing and fulfilment services. Businesses increasingly require reliable partners that can manage inventory, packaging, dispatch, and logistics while ensuring faster order processing and delivery.
Technology has become an important component of modern supply chain management. Digital inventory systems, warehouse automation, real-time tracking, and data-driven operational planning are improving efficiency across manufacturing and logistics businesses. Companies that integrate production with fulfilment services are well positioned to support evolving customer requirements.
Government initiatives supporting manufacturing, logistics infrastructure, digital commerce, and organised supply chains are also expected to contribute to the long-term development of the sector. As businesses continue to focus on operational efficiency and customer satisfaction, integrated supply chain service providers are likely to benefit from increasing outsourcing opportunities.
Business Strategy
Fractal Industries Limited aims to strengthen its market presence by expanding both its manufacturing capacity and supply chain capabilities. The company intends to enhance operational efficiency while delivering integrated solutions that meet the evolving needs of its customers.
Its long-term growth strategy includes expanding warehousing infrastructure, improving production capabilities, adopting advanced technology, and strengthening inventory management systems. These initiatives are expected to support higher operational capacity while improving overall service quality.
The company also focuses on increasing its customer base across multiple industries by offering customised manufacturing and fulfilment solutions. Building long-term client relationships, maintaining consistent service quality, and improving operational reliability remain important aspects of its business strategy.
Along with business expansion, Fractal Industries Limited continues to invest in process optimisation, employee development, quality assurance, and digital infrastructure. Through these initiatives, the company seeks to improve productivity, strengthen its competitive position, and support sustainable long-term growth.
Fractal Industries IPO Financial Information
Financial performance is one of the key factors investors consider before investing in an IPO. By analysing a company’s revenue, profitability, capital structure, and overall financial position over multiple financial years, investors can better understand its operational performance and long-term growth potential. Financial ratios further help evaluate management efficiency, profitability, and valuation.
Fractal Industries Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | NA | NA | ₹85.45 Crore |
| Total Income | NA | NA | ₹85.51 Crore |
| EBITDA | NA | NA | ₹11.15 Crore |
| Profit Before Tax (PBT) | NA | NA | NA |
| Profit After Tax (PAT) | NA | NA | ₹7.54 Crore |
| Net Worth | NA | NA | NA |
| Total Borrowings | NA | NA | NA |
Fractal Industries Limited has reported healthy business activity based on the latest publicly available financial information. During FY2025, the company generated revenue of ₹85.45 crore and recorded a profit after tax of ₹7.54 crore. Stable operating performance and profitability indicate that the company has established a scalable business model supported by its integrated manufacturing and supply chain operations. Investors should review the complete restated financial statements available in the offer document to evaluate long-term financial trends before making an investment decision.
Fractal Industries IPO Key Performance Indicators (KPIs)
Key financial ratios provide additional insights into a company’s operational efficiency, profitability, and financial strength. These indicators help investors compare the company’s performance with industry peers and assess whether the IPO valuation is reasonable.
| KPI | Value |
|---|---|
| EBITDA Margin | 13.04% |
| PAT Margin | 8.82% |
*Calculated using publicly available FY2025 revenue and profitability figures.
The available financial information indicates that the company maintained healthy operating and profit margins during FY2025. As the official offer document contains the complete restated financial statements and valuation metrics, investors should also consider those figures while assessing the company’s financial strength, operational efficiency, and IPO valuation.
Objects of the Fractal Industries IPO
The company proposes to utilise the net proceeds from the fresh issue for the following purposes:
- Funding capital expenditure for business expansion.
- Meeting additional working capital requirements.
- Strengthening manufacturing and warehousing infrastructure.
- Investment in technology and operational improvements.
- Supporting future growth initiatives.
- General corporate purposes.
The planned utilisation of IPO proceeds is expected to improve the company’s operational capabilities, enhance production efficiency, strengthen working capital, and support long-term business expansion. Continued investment in infrastructure and technology is also expected to help the company improve service quality and scale its operations across existing and new markets.
Fractal Industries IPO Listing Performance
The listing performance reflects how the company’s shares performed when they commenced trading on the stock exchange after the completion of the IPO process. Although listing gains or discounts indicate initial market sentiment, investors should focus on the company’s long-term business fundamentals, financial performance, and future growth prospects rather than relying solely on listing-day performance
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 24 February 2026 |
| Issue Price | ₹216 Per Share |
The company’s equity shares were listed on the BSE SME platform after the successful completion of the IPO process. Investors should consider long-term business performance, industry outlook, and financial strength while evaluating the stock rather than focusing only on its listing performance.
Fractal Industries IPO Subscription Status
The subscription data indicates the level of investor participation during the IPO bidding period. Higher subscription generally reflects strong demand across different investor categories. However, subscription alone should not be considered the sole basis for an investment decision, as financial performance, valuation, and business prospects also play an important role.
Fractal Industries IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 61.84 Times |
| Non-Institutional Investors (NII) | 143.27 Times |
| Retail Individual Investors (RII) | 118.96 Times |
| Total Subscription | 103.42 Times |
The IPO attracted healthy participation from all categories of investors. The Non-Institutional Investor (NII) segment witnessed the highest demand, while Qualified Institutional Buyers (QIBs) and Retail Individual Investors (RIIs) also subscribed the issue multiple times, reflecting broad investor interest during the subscription period.
Fractal Industries IPO Review
Fractal Industries Limited operates as an integrated apparel manufacturing and supply chain solutions provider. The company combines garment manufacturing, warehousing, inventory management, packaging, fulfilment, and logistics support to deliver end-to-end services for businesses operating in the fashion and e-commerce sectors.
Its integrated business model enables customers to manage multiple supply chain activities through a single service provider. The company continues to strengthen its operational capabilities by investing in manufacturing infrastructure, warehouse facilities, technology, and process optimisation. This approach supports operational efficiency while helping clients improve inventory management and order fulfilment.
The Indian apparel and organised supply chain industry continues to benefit from the rapid growth of e-commerce, increasing demand for organised logistics, and rising consumer spending. These industry trends create opportunities for companies that provide integrated manufacturing and fulfilment solutions.
At the same time, investors should carefully evaluate factors such as competition, fluctuations in raw material prices, customer concentration, changing consumer preferences, inventory management challenges, and execution risks before making an investment decision.
Overall, Fractal Industries Limited operates in an industry with favourable long-term growth potential. Investors should assess the company’s financial performance, operational efficiency, valuation, management quality, and future expansion plans before taking any investment decision.
Fractal Industries IPO Strengths
Fractal Industries Limited has developed an integrated business model that combines manufacturing with supply chain management services. Some of the company’s notable strengths include:
- Integrated apparel manufacturing and fulfilment business model.
- Presence across multiple stages of the supply chain.
- Established warehousing and inventory management capabilities.
- Diversified service offerings for fashion and e-commerce businesses.
- Focus on operational efficiency and process optimisation.
- Growing opportunities driven by India’s expanding organised retail and e-commerce sectors.
- Experienced management team with industry knowledge.
- Scalable business model supported by infrastructure development.
Fractal Industries IPO Risk Factors
Like every business, Fractal Industries Limited is exposed to various operational and industry-related risks that investors should evaluate before investing.
- The business operates in a highly competitive apparel manufacturing and supply chain industry.
- Fluctuations in raw material prices may impact operating margins.
- Dependence on key customers could affect revenue if major contracts are not renewed.
- Inventory management and warehousing operations require efficient execution to avoid operational losses.
- Any disruption in logistics or transportation networks may affect timely deliveries.
- Changes in consumer demand and fashion trends may influence business performance.
- Expansion projects may require significant capital investment and efficient execution.
- Economic slowdowns or reduced consumer spending may adversely impact demand across the apparel sector.
Fractal Industries IPO Promoters
Fractal Industries Limited is led by its promoter group, which has played an important role in establishing and expanding the company’s operations. The promoters have been actively involved in shaping the company’s long-term vision, strengthening its manufacturing capabilities, improving supply chain operations, and driving business growth through strategic planning and operational management.
Fractal Industries IPO Promoters Details
| Promoter | Designation |
|---|---|
| Pankaj Bishwanath Agrawal | Promoter & Managing Director |
| Priti Pankaj Agrawal | Promoter |
Fractal Industries IPO Management Team
The company’s day-to-day operations are supervised by a team of professionals with experience in manufacturing, finance, business administration, compliance, and corporate governance. Their collective expertise supports efficient business execution, operational excellence, and sustainable expansion across different business verticals.
| Name | Designation |
|---|---|
| Pankaj Bishwanath Agrawal | Chairman & Managing Director |
| Vikas Tekriwal | Executive Director |
| Shiv Kumar Mittal | Non-Executive Director |
| Neha Yogesh Khemka | Independent Director |
| Vipul Ratan | Independent Director |
Fractal Industries IPO Registrar Details
KFin Technologies Limited was appointed as the registrar for the public issue. The registrar was responsible for handling IPO applications, preparing the basis of allotment, facilitating the credit of shares to successful applicants, processing refunds where applicable, and addressing investor-related queries throughout the IPO process.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | www.kfintech.com |
| IPO Allotment Status | https://ris.kfintech.com/ipostatus |
| Email ID | [email protected] |
| Contact Number | +91-40-6716 2222 |
The registrar also assists investors with post-issue services, including allotment-related queries and share credit information.
Fractal Industries IPO Lead Manager Details
Finaax Capital Advisors Private Limited acted as the Book Running Lead Manager for the IPO. The lead manager was responsible for managing the overall public issue process, coordinating with regulatory authorities, overseeing book building activities, and ensuring that the issue complied with applicable regulatory requirements.
| Particular | Details |
|---|---|
| Lead Manager | Finaax Capital Advisors Private Limited |
| Website | https://www.finaaxcapital.com/ |
| Email ID | mb@finaaxcapital.com |
| Contact Number | +91-79-4038 2300 |
The lead manager also advised the company on various aspects of the IPO, including regulatory compliance, issue management, and investor participation.
Fractal Industries Limited Contact Details
Investors and other stakeholders can contact the company through the details provided below for general enquiries and investor-related communication.
| Particular | Details |
|---|---|
| Company Name | Fractal Industries Limited |
| Registered Office | Gala 212, Bhullar Star Industrial Estate, Andheri Kurla Road, Andheri East, Mumbai, Maharashtra – 400072 |
| Corporate Office | Gala 212, Bhullar Star Industrial Estate, Andheri Kurla Road, Sakinaka, Mumbai, Maharashtra – 400072 |
| Warehouse | Survey No. 749 (Old Survey No. 119/3), Village Sarodhi, Taluka Pardi, District Valsad, Gujarat – 396185 |
| Website | https://fractalindustries.in |
| Email ID | [email protected] |
| Phone Number | +91-22-2852 8352 |
How to Check Fractal Industries IPO Allotment Status
After the basis of allotment was finalised, applicants could verify their allotment status through either the registrar’s online portal or the BSE IPO platform.
Check Through KFin Technologies Limited
- Open the official IPO allotment page of KFin Technologies.
- Choose Fractal Industries IPO from the available list.
- Select any one search option, including PAN, Application Number, or DP Client ID.
- Enter the required information in the relevant field.
- Submit the details to view the allotment result.
Check Through BSE
- Visit the BSE IPO allotment webpage.
- Select Fractal Industries IPO from the available issues.
- Provide your PAN number or IPO application number.
- Complete the verification process, if prompted.
- Click Search to check whether shares have been allotted.
Frequently Asked Questions (FAQs)
What is Fractal Industries IPO?
Fractal Industries IPO is a Book Built SME public issue comprising a fresh issue of equity shares offered by Fractal Industries Limited.
What was the price band of the Fractal Industries IPO?
The company offered the IPO within a price band of ₹205 to ₹216 per equity share.
What was the total issue size of the Fractal Industries IPO?
The public issue aggregated ₹49.00 crore, consisting entirely of a fresh issue of 22,68,600 equity shares.
When did the Fractal Industries IPO open and close?
The IPO remained open for subscription from 16 February 2026 to 18 February 2026.
Where are Fractal Industries shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar to the issue?
KFin Technologies Limited served as the registrar for the IPO.
Who managed the Fractal Industries IPO?
The IPO was managed by Finaax Capital Advisors Private Limited, which acted as the Book Running Lead Manager.
What was the minimum application size?
Retail investors were required to apply for a minimum of 2 lots comprising 1,200 equity shares.
What business does Fractal Industries Limited operate?
Fractal Industries Limited provides integrated apparel manufacturing, warehousing, inventory management, order fulfilment, logistics, and supply chain solutions for businesses operating in the apparel, retail, and e-commerce sectors.
How will the IPO proceeds be utilised?
The company intends to utilise the net proceeds primarily for working capital requirements and general corporate purposes, supporting its future operational and business growth.
