Fractal Analytics IPO Review – Update
Fractal Analytics Update
“Launches Vaidya 2.0”
Fractal Analytics Ltd, a global provider of artificial intelligence (AI) to Fortune 500 companies, today said that,
The Company has launched Vaidya 2.0, the next-generation healthcare reasoning model. Source – BSE
Designed to power Health Care Operating System-Based workflows, Vaidya 2.0 bridges the gap between raw data and healthcare action.
Debuting at the India AI Impact Summit 2026, the management said that Vaidya 2.0 scores 50.1 on HealthBench (hard), outperforming OpenAI’s GPT-5 and Google’s Gemini Pro 3 on this challenging benchmark.
Management Speech –
On launching Vaidya 2.0, Suraj Amonkar, Chief AI Research & Platforms Officer of the company, said,
With Vaidya 2.0, we’ve moved from knowledge-based foundation models to more advanced post-trained reasoning and agentic-based healthcare models.
By ranking top globally, on the OpenAI HealthBench (hard), which focuses on realistic healthcare conversations, and also showing leading performance on the MedExpert Benchmark that evaluates expert-level medical reasoning.
Vaidya 2.0 models demonstrate a health-operating system approach that is not only more comprehensive but also more reliable and accurate across a wide variety of healthcare workflows.
Refer to fractal analytics news for further information.
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16 February 2026
Fractal Analytics IPO Listing Update
Fractal Analytics Ltd, a globally recognized Enterprise AI company, made a weak debut on the stock market on February 16, 2026.
The weak listing came despite the company’s ₹2,834 Cr IPO receiving a decent subscription of 2.66 times (according to stock exchange data) during February 09-11.
The stock opened at ₹900 per share on the Bombay Stock Exchange (BSE), against the IPO price of ₹900, indicating no listing gains for investors.
On the National Stock Exchange (NSE), the stock was listed at ₹876 per share, representing a 2.70% discount over the IPO price.
The Stock made a high of ₹897.30 and a low of ₹831.30 before closing at ₹837.70 (down 4.37%) on the NSE at the market’s close.
In terms of volumes, Fractal Analytics traded with 6,818,588 shares on the NSE.
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6 February 2026
Fractal Analytics Limited, a multinational artificial intelligence (“AI”) and data analytics company, is planning to raise ₹2,834 crore through an Initial Public Offering.
[Fresh Issue ₹1,024 Cr + OFS ₹1,810 Cr]
Fractal Analytics IPO share price is ₹857 – ₹900 per share
Fractal Analytics: History
The company was originally incorporated as Fractal Communications Limited at Mumbai, Maharashtra, India, as a public limited company under the provisions of the Companies Act, 1956, on March 28, 2000.
The Company was then converted into a public limited company. Its name was subsequently changed to Fractal Analytics Limited, as per a fresh certificate of incorporation issued by the Registrars of Companies on May 16, 2024.
Fractal Analytics: Business
Fractal Analytics Ltd is a globally recognized enterprise artificial intelligence (“AI”) company, with a vision to power human decisions in clients’ enterprises by leveraging AI.
The company supports large global enterprises with data-driven insights, assisting them in their decision-making through end-to-end AI solutions.
Key Business Segments
- Fractal.ai – This unit of the company consists of (1) AI services and (2) AI products. The company’s AI products are hosted on “Cogentiq” – a flagship agentic AI platform designed to help enterprises and product owners build and upgrade products with built-in tools, security, governance, and low-code features.
- Fractal Alpha – This unit of the company consists of independent AI businesses that target core must win clients (MWCs) and broader markets and new geographies.
Client List
In FY 2025, Fractal has served 113 MWCs, with prominent clients including Citibank, N.A (“Citi”), Nestle, Costco, Nationwide, Franklin Templeton, Mondelez, Mars, and Philips, among others.
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Strategies Ahead
- Acquire and grow a must win clients (MWCs) culture.
- Expand capabilities by investing in AI research & product innovation.
- Build a great place to work.
- Partner with leading technology companies.
- Accelerate capabilities through acquisitions.
Company Promoters
- Srikanth Velamakanni,
- Pranay Agrawal,
- Chetana Kumar,
- Narendra Kumar Agrawal,
- Rupa Krishnan Agrawal.
Refer to Fractal analytics DRHP pdf for detailed information.
IPO Details
Fractal Analytics IPO date: 9 – 11 Feb 2026
Minimum Amount: ₹14,400
Minimum Bid: 16 Shares
Face Value (FV): ₹1
Listing On: NSE, BSE
Financial
Book Running Lead Managers
Kotak Mahindra Capital
Morgan Stanley India Company
Axis Capital
Goldman Sachs (India) Securities
CONCLUSION
FinBlab recommends ‘NEUTRAL‘ ratings (for the time being) on Fractal Analytics IPO.
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