Fractal Industries Ltd SME IPO – Company Overview, Business & Operations
Latest Grey Market Premium & IPO Details
Fractal Industries IPO 2026 – Key Info & Highlights
Fractal Industries IPO is a ₹46.54 crore SME issue that opened from 16th February to 18th February 2026. The entire offer is a fresh issue. The price band was fixed at ₹205–₹216 per share with a face value of ₹10. Retail investors had to apply for a minimum of 2 lots (600 shares per lot), taking the minimum investment to around ₹2.59 lakh at the upper band.
The subscription gained momentum over the three days — around 1.65x on Day 1, 2.09x on Day 2, and closing strongly at 5.44x overall on Day 3, reflecting solid investor interest in the IPO.
📌 IPO Details
| Company Name | Fractal Industries IPO |
|---|---|
| Sector / Industry | Garments & Apparels |
| IPO Open Date | 16-02-2026 |
| IPO Close Date | 18-02-2026 |
| Allotment Date | 20-02-2026 |
| Refund Date | 23-02-2026 |
| Share Credit Date | 23-02-2026 |
| Listing Date | 24-02-2026 |
| Price Band | ₹205 - ₹216 |
| Lot Size | 600 Shares |
| Min Investment | ₹2,59,200 ( 2 lots Price ) |
| Total Issue Size | ₹49.00 Cr |
| Reserved for Market Maker | ₹2.46 Cr |
| Net Issue Size | ₹46.54 Cr |
| Fresh Issue | ₹46.54 Cr |
| IPO Listing At | BSE SME |
| DRHP | View DRHP |
| RHP | View RHP |
| Issue Type | Book Build Issue |
| Face Value | ₹10 Per Equity Share |
| Promoter Holding Pre IPO | 97.15 % |
| Min Small HNI Lots | 1800 shares (3 lots) |
| Min Big HNI Lots | 4,800 shares (8 lots ) |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 33.27% |
| QIB (Qualified Institutional Buyers) | 18.99% |
| Anchor Investors | 28.43% |
| HNI (High Net Worth Individuals) | 14.28% |
| Reserved for Market Maker | 5.03% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 24-02-2026 | ₹8.00 | - | ₹224.00 | ₹4800.00 | 24-02-2026 09:41 |
| 23-02-2026 | ₹8.00 | ▲ | ₹224.00 | ₹4800.00 | 23-02-2026 23:38 |
| 22-02-2026 | ₹1.50 | - | ₹217.50 | ₹900.00 | 22-02-2026 23:20 |
📝 About Fractal Industries
Fractal Industries Limited is a full-service garment manufacturing and supply chain company headquartered in Mumbai. The Company designs, sources, and manufactures garments, providing end-to-end warehousing and logistics services to major e-commerce platforms such as Myntra, Ajio, and Flipkart.
Operating across India, Fractal Industries focuses on producing fast-moving, high-quality apparel for online marketplaces. Its services include product and order management, inventory and return handling, integrated logistics, data analytics, multi-channel sales support, and order anomaly detection.
The Company follows three business models:
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Outright Sale of Garments – Manufacturing garments sold in bulk to e-commerce platforms, which then handle customer delivery, warehousing, and returns.
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PPMP Model (Pure Play Marketplace) – Designing and manufacturing under the marketplace’s brand, handling forecasting, production, warehousing, and delivery, with orders shipped within 48 hours following platform guidelines.
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Direct Sale – Own Brand Manufacturing – Selling directly under its own brand “7ate9” launched in May 2025, managing inventory, order fulfillment, and customer service end-to-end.
Fractal Industries operates a manufacturing facility in Mumbai with a monthly capacity of over 3,00,000 garments and warehouses in Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka. As of September 30, 2025, the Company employs 44 permanent staff.
This integrated model and focus on operational efficiency allow Fractal Industries to scale quickly, maintain high-quality production, and support the growing e-commerce apparel market.
Fractal Industries Revised Financials
Profit / Loss & Total Assets (Last 3 Years)
| Financial Year | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| FY 2023 | 88.91 | +2.65 | 41.21 |
| FY 2024 | 49.94 | +2.26 | 42.27 |
| FY 2025 | 85.44 | +7.53 | 54.79 |
Note: Positive figures indicate profit, while negative figures indicate loss. Total Assets are reported in ₹ Cr. All values are as per restated financials in the IPO prospectus on an annualised basis. FY2025 is the latest year before the IPO. Figures from DRHP/RHP financial summary.
Fractal Industries SME IPO – Objects of the Issue
- ₹36.50 Crore – Funding Working Capital Requirements
The Company intends to utilize the majority of the Net Proceeds towards meeting its working capital requirements, including procurement of raw materials, inventory management, operational expenses, and ensuring smooth day-to-day business operations. - Remaining Amount – General Corporate Purposes
The balance of the Net Proceeds will be used for general corporate purposes, which include strengthening administrative functions, meeting regulatory and compliance costs, brand building, and supporting overall business operations.
Fractal Industries Ltd – Strengths
- Experienced Promoters and Management Team – The Company is led by promoters and senior management having relevant experience in apparel manufacturing, sourcing, and supply chain operations, enabling effective decision-making and execution.
- Integrated Business Model – Fractal Industries operates an integrated model covering design, manufacturing, warehousing, and supply chain solutions, which helps in better cost control, operational efficiency, and timely delivery.
- Established Client Relationships – The Company has developed long-standing relationships with customers across the apparel and e-commerce ecosystem, supporting repeat business and stable revenue generation.
- Scalable Operations with Focus on Working Capital Efficiency – The business model allows scalability while maintaining working capital discipline, which is reflected in consistent operations and the stated use of IPO proceeds for working capital strengthening.
- Consistent Financial Performance – The Company has reported profits in recent financial years, demonstrating operational stability and the ability to manage costs effectively despite fluctuations in revenue.
Fractal Industries Ltd – Risk Factors
- Industry and Market Risks – The Company operates in the competitive apparel and supply chain sector, where changes in fashion trends, customer demand, raw material costs, or economic slowdowns may adversely affect revenue and profitability.
- Working Capital Fluctuations – Any significant mismatch between sales cycles and cash flows could negatively impact operations, especially since a large portion of IPO proceeds is earmarked for working capital requirements.
- Dependence on Key Customers – If the Company loses one or more major clients, or if clients reduce orders, it could materially reduce sales and profits. Customer concentration remains a risk for future revenue stability.
- Supply Chain and Vendor Risks – Delays or disruptions in procurement of raw materials, factory operations, logistics, or vendor performance may increase costs and delay deliveries, impacting financial results.
- Regulatory and Compliance Risks – Changes in tax laws, labour laws, export/import regulations, trade policies, labour standards, or other compliance requirements may increase operational costs or restrict business flexibility.
- Dependence on Skilled Workforce – The ability to hire and retain experienced staff for design, production, logistics, and fulfilment is critical. Labour shortages, high turnover, or wage pressures could adversely affect the Company’s operations.
- Foreign Exchange and Commodity Price Risk – Although primarily domestic, any foreign sourcing of raw materials or overseas revenue streams may expose the Company to currency fluctuations and raw material price volatility.
- Economic and Geopolitical Conditions – Economic downturns, supply chain disruptions, inflation, interest rate changes, or geopolitical tensions could adversely affect consumer spending and the Company’s performance.
Fractal Industries Ltd
Integrated Apparel Manufacturing & Supply Chain Solutions
| Founded in: | 09 January 2020 |
|---|---|
| MD/CEO: | Pankaj Agrawal |
| Address: | Gala 212, Bhullar Star Industrial Estate Andheri Kurla Road, Andheri East Mumbai, Maharashtra 400072, India |
| Website: | https://fractalindustries.in/ |
| Phone: | +91 22 2852 8352 |
| Email: | info@fractalindustries.in |
| Services: | Garment manufacturing, apparel design & production, warehousing, integrated logistics & supply chain solutions |
IPO Quick Info
16 Feb 2026
18 Feb 2026
Upcoming
Lead Manager(s)
- Finaax Capital Advisors Private Limited
Frequently Asked Questions
Fractal Industries is a full-service garment manufacturing and supply chain company. It designs, sources, and manufactures garments and provides end-to-end warehousing and logistics services for e-commerce platforms like Myntra, Flipkart, and Ajio.