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Unlisted shares of Fractal Industries Ltd were trading at Rs 216 apiece in the grey market, which is zero premium over the upper IPO price, indicating flat or negative listing.
Fractal Industries IPO.
Fractal Industries IPO Day 2: The initial public offering (IPO) of full-service apparel manufacturing and supply-chain company Fractal Industries Ltd is witnessing its second day of bidding today, February 17. The Rs 49-crore IPO, whose price band has been fixed in the range of Rs 205 to Rs 216 apiece, will be closed on Wednesday, February 18. Till 10:15 am on the second day of bidding on Tuesday, the IPO received a 1.62x subscription, receiving bids for 24,51,000 shares as against 24,51,000 shares on offer.
Its retail category got a 0.30x subscription. The non-institutional investors (NII) category has received a 0.42x subscription. The qualified institutional buyers (QIBs) category got 4.85x subscription.
Fractal Industries IPO GMP Today
According to market observers, unlisted shares of Fractal Industries Ltd were trading at Rs 216 apiece in the grey market, which is zero premium over the upper IPO price of Rs 216. It indicates a flat or negative listing.
The GMP was zero on the first day of bidding on Monday.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
The company is scheduled to list on the BSE SME platform with a tentative debut date of February 23.
Fractal Industries IPO Lot Size
The IPO has a lot size of 600 shares. At the upper end of the price band, a retail investor will need to invest a minimum of Rs 2,59,200 for one lot. For non-institutional investors (NII), the minimum application size is 3 lots, or 1,800 shares, translating into an investment of Rs 3,88,800.
Fractal Industries Ltd raised Rs 13.93 crore from anchor investors on February 13, 2026.
Fractal Industries IPO: More Details
Fractal Industries’ Rs 49-crore IPO is a book-built issue consisting entirely of a fresh offer of 0.23 crore shares. The public issue opened for subscription on February 16, 2026 and will close on February 18, while the basis of allotment is expected to be finalised on February 19.
Finaax Capital Advisors Private Limited is acting as the book-running lead manager to the issue, Kfin Technologies Ltd. is the registrar, and Shreni Shares Ltd. is the market maker.
Fractal Industries is a full-service garment manufacturing and supply-chain company that designs, sources and produces apparel while also offering end-to-end warehousing and logistics support. Its services are tailored for e-commerce platforms such as Myntra, Ajio and Flipkart, with operations spread across India and a focus on fast-moving, high-quality apparel for online marketplaces.
Beyond manufacturing, the company provides integrated solutions including product and order management, inventory and returns handling, logistics integration, data analytics, multi-channel sales support and order anomaly detection.
Financially, the company has shown steady expansion in its balance sheet and profitability. Total assets rose to Rs 62.03 crore as of September 2025 from Rs 51.42 crore in March 2025 and Rs 42.27 crore in March 2024. Total income stood at Rs 47.33 crore for the half year ended September 2025, compared with Rs 85.51 crore for FY25 and Rs 50.01 crore for FY24.
Profit after tax increased to Rs 6.78 crore in the latest half-year period, versus Rs 7.54 crore for FY25 and Rs 2.27 crore for FY24, while EBITDA came in at Rs 9.29 crore for the six-month period against Rs 11.15 crore in FY25. Net worth has strengthened to Rs 23.59 crore as of September 2025 from Rs 15.70 crore a year earlier, although total borrowings stood at Rs 24.63 crore.
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