Fractal Analytics is set to launch India’s first pure-play Artificial Intelligence (AI) initial public offering, marking a historic shift in the domestic tech landscape. The issue is scheduled to open for subscription on February 9, 2026, and will close on February 11, 2026. The company has finalized its total issue size at 2,833.90 crore. This includes a fresh issue component of 1,023.50 crore and an offer-for-sale (OFS) of 1,810.40 crore. While the original filing suggested a larger issue of 4,900 crore, the revised size reflects a strategic optimization for the current market environment. The anchor investor bidding window is slated for February 6, 2026. Following the public subscription, the basis of allotment is expected to be finalized by February 12, 2026, with a tentative listing on the BSE and NSE set for February 16, 2026. Fractal’s financial trajectory underscores its readiness for public markets. For the fiscal year ending March 2025, the company reported a total income of 2,816.20 crore, representing a robust 25.7% growth compared to the previous year. Crucially, the firm achieved a major profitability turnaround in FY25, swinging from a 54.70 crore loss in the previous year to a net profit of 220.60 crore. This was supported by a significant expansion in EBITDA margins, which rose to 14.4% from 4.4% in FY24. Growth continues to be fueled by its core segment, Fractal.ai, which services over 100 Fortune 500 companies. This division contributes approximately 96% of total revenue. Meanwhile, its innovation arm, Fractal Alpha, is being positioned as a high-margin engine for future growth, despite currently being in the investment phase. The proceeds from the fresh issue are earmarked for clear strategic objectives. These include 264.90 crore for debt repayment at its US subsidiary and 355.10 crore dedicated to research, development, and marketing for the Fractal Alpha division. The remainder will fund office expansion in India and potential inorganic growth through acquisitions. This listing coincides with an explosive phase for the Indian AI market, which is projected to reach a valuation of 17 billion by 2027. Global investor interest remains high as the region emerges as a critical hub for AI infrastructure and data-driven decision-making. The successful transition of a pure-play AI unicorn to the public markets is expected to serve as a bellwether for the next wave of high-tech listings in Asia. With a net revenue retention rate of 121.3%, Fractal demonstrates strong enterprise stickiness, a key metric for long-term scalability in the software and services sector.