Quick Stats
Listing Price
229
(6.02%)
Subscription
5.52x
Allotment Status
Out
Last Updated
28-03-2026 12:54 AM
Fractal Industries IPO – Live GMP, Review & Analysis
Fractal Industries IPO GMP Today - ₹8 (3.70%)
Last updated: 24-02-2026 10:00 AM
Grey Market Premium Analysis
As of today, the latest Grey Market Premium (GMP) for Fractal Industries IPO is ₹8. Considering the upper price band of ₹216, the estimated listing price is ₹224 (Cap Price + GMP). This indicates a listing gain of 3.7% per share. The GMP trend has been Up over the last 3 days.
GMP Trend Analysis
| Date | GMP Price | Est. Listing Gain | Trend |
|---|---|---|---|
| 24-02-2026 | 8 | ₹4,800 | Up |
| 23-02-2026 | 5 | ₹3,000 | Up |
| 22-02-2026 | 1.5 | ₹900 | Neutral |
| 21-02-2026 | 1.5 | ₹900 | Up |
| 20-02-2026 | 0 | ₹0 | Neutral |
| 19-02-2026 | 0 | ₹0 | Neutral |
| 18-02-2026 | 0 | ₹0 | Down |
| 17-02-2026 | 4 | ₹2,400 | Neutral |
| 16-02-2026 | 4 | ₹2,400 | Down |
| 15-02-2026 | 6 | ₹3,600 | Neutral |
Fractal Industries IPO Date, Price Band & Lot Size
Price Band
205-216
Lot Size
600 shares
Cutoff Investment
129600
Promoter Holding
Open
Feb 16, 2026
Close
Feb 18, 2026
Allotment Date
Feb 20, 2026
Listing Date
Feb 24, 2026
Issue Size
49
Fractal Industries IPO Review: Business Model
*This section provides a detailed description of Fractal Industries IPO's business operations and market position.
Fractal Industries IPO Financial: Revenue, Profit & Margins
Key financial metrics over recent years.
*Values in Cr
Revenue
₹86 Cr
Net Profit
₹8 Cr
EBITDA
₹11 Cr
ROE
48.02%
ROCE
35.15%
Debt/Equity
0.64x
PAT Margin
8.82%
Peer Comparison
Apparel Logistics & Manufacturing • FY24/25
| Company | Revenue (₹ Cr) | PAT (₹ Cr) | EBITDA Margin | P/E | Market Cap (₹ Cr) | Comment |
|---|---|---|---|---|---|---|
Fractal Industries Limited (IPO Company) IPO Company | 85.51 | 7.54 | 13.04% | 15.99 | 169.54 | Operates as a specialized 'design-to-delivery' partner for e-commerce platforms, integrating garment manufacturing with backend logistics. |
Gokaldas Exports Ltd | 2,409 | 131 | 11.80% | 22.50 | 5,884 | Established exporter focusing on complex garment manufacturing for global brands; significantly larger operational scale. |
S.P. Apparels Ltd | 1,106 | 89.6 | 14.30% | 24.10 | 2,150 | Integrated manufacturer for knitted garments and children's wear; operates with higher margins due to branded retail presence. |
Pearl Global Industries Ltd | 3,410 | 173 | 9.10% | 21.80 | 4,200 | Multinational apparel manufacturer with diverse geographic production bases; volume-driven business model. |
Analysis & Interpretation
Fractal Industries operates on a significantly smaller scale (SME category) compared to listed mainboard peers like Gokaldas and S.P. Apparels. While its P/E ratio appears lower, this discount typically accounts for the liquidity risks associated with SME stocks and its high client concentration. The company’s EBITDA margins are comparable to industry averages, driven by its integrated logistics and manufacturing service model.
Note: The peer group consists of established Mainboard companies with global export operations, whereas the IPO company serves domestic e-commerce platforms. Financial metrics for the IPO company are based on FY25 (RHP Data), while peers reflect FY24/Trailing 12-month data.
Source: Fractal Industries RHP (FY25) & Publicly Available Financial Data for Peers (FY24).
This peer comparison is for informational purposes only and is based on publicly available financial data. It does not constitute investment advice or a recommendation to buy or sell any security.
IPO Objectives (Use of Funds)
Working Capital Requirements
₹28.50 Cr(58.16%)To fund the incremental working capital needs required for business expansion and day-to-day operations.
Construction of Factory Shed
₹8.00 Cr(16.32%)Capital expenditure towards the construction of an additional factory shed at the existing manufacturing unit.
General Corporate Purposes
₹12.50 Cr(25.51%)To cover general corporate expenses, including strategic initiatives and operational contingencies.
Note: Objectives are as per the Red Herring Prospectus (RHP). Utilisation of funds may vary based on business requirements.
Source: RHP
For informational purposes only.
Anchor Investor List & Allocation Details
Key institutional investors who subscribed to the IPO prior to opening.
| Investor Name | Category | Shares Allocated | Amount (Cr) |
|---|---|---|---|
| Minerva Ventures Fund | FPI | 1,62,600 | ₹3.51 Cr |
| Visionary Value Fund | FPI | 1,15,800 | ₹2.50 Cr |
| Zeal Global Opportunities Fund | FPI | 93,000 | ₹2.01 Cr |
| Rajasthan Global Securities Pvt. Ltd. | Others | 93,000 | ₹2.01 Cr |
| LRSD Securities Pvt. Ltd. | Others | 93,000 | ₹2.01 Cr |
| Arnesta Global Opportunities Fund PCC - Arnesta Global Fund 1 | FPI | 87,600 | ₹1.89 Cr |
SWOT Analysis (Pros & Cons)
Comprehensive analysis of Strengths, Weaknesses, Opportunities, and Threats.
Strengths
- •Integrated 'design-to-delivery' business model reducing lead times.
- •Established relationships with major e-commerce platforms like Myntra and Flipkart.
- •Proprietary technology for real-time inventory and logistics management.
- •Strategically located warehousing network across five states.
- •Scalable manufacturing capacity exceeding 300,000 units per month.
Weaknesses
- •High revenue concentration with top 5 clients contributing over 95%.
- •Business is highly working capital intensive.
- •Limited bargaining power against large e-commerce marketplace clients.
- •History of fluctuating financial performance and low profit margins.
- •Geographical concentration of manufacturing facilities in a single region.
Opportunities
- •Growing penetration of organized fashion e-commerce in Tier-2/3 cities.
- •Expansion of high-margin private label brand '7ate9'.
- •Potential to diversify client base beyond current marketplace partners.
- •Increasing demand for fast-fashion supply chain solutions.
Threats
- •Volatility in raw material prices (cotton, yarn, fabric).
- •Rapid changes in fashion trends leading to inventory obsolescence risks.
- •Intense competition from unorganized sector and other contract manufacturers.
- •Regulatory changes affecting labor laws and minimum wages.
- •Dependence on third-party logistics partners for final mile delivery.
IPO Video Analysis (External)
Detailed analysis of Fractal Industries IPO Analysis by market experts.
*Video embedded for convenience. Click the play button to load the content from YouTube.
Disclaimer: This video is shared for informational and educational purposes only. The views expressed are those of the respective creator and do not constitute investment advice.