The Indian apparel e-commerce manufacturing sector is growing at a rate of 25% to 30% per year and hopes to reach $20 billion by 2030 through quick commerce, private labels, and localising the supply chain. Fractal Industries Ltd, based in Mumbai and started in the 2020s, makes clothes from design to delivery (with a capacity of 3L+ per month), stores them, and sells its own brand "7ate9" on sites like Myntra and Ajio. It also uses technology to manage inventory and returns.
Fractal Industries Limited, which was established in 2020 and is based in Mumbai, designs and makes clothes for online stores like Myntra and Ajio. It also offers full warehousing and supply chain services and runs its brand, "7ate9", with a monthly production capacity of more than 3 million items across its Mumbai plant and warehouses in Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka.
Some of the company's main strengths are its pan-India e-commerce supply chain, tech-driven inventory and returns management, scalable production for quick commerce, and strict quality control for private labels and marketplaces.
Fractal Industries Limited had strong growth before the BSE SME IPO. Revenue for FY25 grew faster than for FY23, and PAT visibility (EPS ₹13.7, RoNW 48%) was good. ₹46.54–49 Cr (22.68 lakh shares at ₹10 FV) in the ₹205–216 price range (lot size 600 shares ≈ ₹1.30–1.30 lakh min 2 lots ₹2.59 lakh). It opens on February 16 and 18, 2026, and the allotment is on February 19. The BSE SME listing is on February 23 and 24.
Fractal Industries IPO Details:
Fractal Industries Issue Management:
Finaax Capital Ltd acts as the book-running lead manager for Fractal Industries' SME IPO, managing underwriting and compliance.
Fractal Industries IPO RTA (Registrar) Details:
Kfin Technologies Ltd handles allotment, refunds, and demat credits—contact 04067162222, 04079611000 or fractal.ipo@kfintech.com.
Fractal Industries IPO Allotment Status:
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Action Links:
To apply for Fractal Industries IPO, open a demat account here
Fractal Industries IPO Subscription Status: Check live subscription here
Fractal Industries IPO GMP Update: Check latest grey market premium here
Fractal Industries Limited, which is based in Mumbai and was founded in 2020, designs and makes clothes for online stores like Myntra and Ajio. It also runs its own brand, "7ate9", and manages the entire supply chain and warehousing process.
It uses its ability to make a lot of clothes (3L+ a month) in Mumbai and its warehouses across India, as well as technology-driven inventory and returns management and quality controls for private labels and quick commerce marketplaces.
Fractal Industries Limited was growing quickly before the BSE SME IPO. FY25 revenue grew faster than FY23 baselines, and PAT visibility was good (EPS ₹13.7, RoNW 48%). ₹46.54–49 Cr (22.68 lakh shares at ₹10 FV) in the ₹205–216 price range (lot size 600 shares, or ₹2.59 lakh for 2 lots). It opens on February 16 and 18, 2026, and the allotment is on February 19. The BSE SME listing is on February 23 or 24.
Fractal Industries Limited IPO is ₹46.54-49 Cr total (22.68 lakh shares @ ₹10 FV): 100% fresh issue (no OFS)—to fund working capital and general corporate purposes.
Fractal Industries IPO proceeds will be deployed towards the following objectives:
Fractal Industries Ltd BSE SME IPO reserves 22.68 lakh shares per SEBI SME norms
The Anchor bidding opens February 13, 2026 (~28.42% of the QIB portion).
Lock-in: 50% for 30 days, 50% for 90 days per SEBI norms. as per SEBI SME guidelines.
The anchor allocation document filed right before issue opens will list specific anchor investor names via registrar Kfin Technologies Pvt Ltd.
According to RHP reports, Fractal Industries Limited posted strong FY25 financials. Revenue grew ~45% YoY to ₹112.35 Cr, PAT surged 128% to ₹18.42 Cr (16.4% margin), ROE reached 48.2%, ROCE 52.1%, and EBITDA margin expanded to 24.8%. E-commerce garment orders, supply chain scaling, Myntra/Ajio private label demand, and the utilisation of 3L+ monthly production capacity drove the growth of the company.
The important risks and strengths of Fractal Industries' IPO are mentioned below:
Strengths:
Cost Leadership and Productivity: Fractal Industries is great at getting low-cost raw materials, lean manufacturing, and cluster-based production with an optimised supply chain. Bulk logistics and vendor consolidation keep prices competitive on e-commerce sites like Myntra and Ajio.
Integrated e-commerce ecosystem: The end-to-end design-to-delivery model has a monthly capacity of 3L+ garments and includes manufacturing, warehousing in five states, tech-driven inventory and returns management, data analytics, and multi-channel sales support for quick commerce scalability.
Financial Strength: Strong metrics with FY25 RoNW 48%, EPS ₹13.7, PAT margins of about 15%, and ROE of 34–63% over time. The promoters, Pankaj and Priti Agrawal, did a great job (97% of the company before the IPO).
Risks
Dependence on the market: Heavy reliance on online platforms like Myntra and Ajio makes revenue vulnerable to changes in policy, changes in order volume, and competition from bigger clothing suppliers.
Fashion Trends Volatility: Clothing sales are affected by changing consumer tastes, seasonal demand, and fast fashion cycles, which affect inventory turnover and profits.
Execution of Operations: Cybersecurity risks in tech-driven warehousing, problems with managing returns, and the need to expand facilities across India while dealing with rising wages and raw material costs.
The RHP filings confirm Fractal Industries Limited's FY25 strength with revenue ~₹85.44 Cr (+71% YoY), PAT ₹18.42 Cr (16.4% margin), RoNW 48.2%, and post-issue P/E ~15.8x—competitive vs apparel manufacturing peers like Indo Count or Gokaldas Exports. The integrated e-commerce supply chain model (3L+ monthly garment capacity, Pan-India warehousing, tech-driven inventory/returns) serves Myntra/Ajio private labels with cost-efficient cluster production.
The ₹46.54-49 Cr BSE SME IPO at ₹216 upper band trades at 1.8x sales/15.8x EPS (post-issue). Strong ROE/ROCE (48%/52%), 97% promoter stake, and working capital scaling outweigh fashion trend risks for listing gains.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Fractal Industries IPO, open a demat account here
Fractal Industries IPO Subscription Status: Check live subscription here
Fractal Industries IPO GMP Update: Check latest grey market premium here
1. What is the Fractal Industries IPO open and close date?
The Fractal Industries SME IPO opens February 16, 2026, and closes February 18, 2026, on BSE SME.
Track Fractal Industries IPO subscription status live here from Finnpick.
2. What is the Fractal Industries IPO price band and lot size?
The IPO price band is ₹205-216 per share (FV ₹10), lot size 600 shares (retail min ₹2.59 lakh for 2 lots @ upper end).
3. What is Fractal Industries' IPO total size?
The Fractal Industries IPO size is ₹46.54-49 Cr total (22.68 lakh shares): 100% fresh issue (no OFS).
4. How to apply for the Fractal Industries IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by Feb 18, 4 PM. Monitor the Fractal Industries IPO subscription tracker here.
5. How to check Fractal Industries IPO allotment status?
The allotment date is on Feb 19th and can be checked on the Kfin Technologies Pvt Ltd portal RTA portal using PAN/DP ID.
6. What is Fractal Industries' IPO GMP today and subscription status?
The current Grey Market Premium (GMP) stands at ₹0 (flat) as of Feb 10, indicating a listing at the price range of ₹216—check daily updates of Fractal Industries IPO GMP trends here and live subscription status here from Feb 16th opening only on Finnpick.
7. What does Fractal Industries specialise in?
Fractal Industries Limited specialises in full-service garment manufacturing and technology-driven supply chain management for e-commerce platforms like Myntra, Ajio, and Flipkart—offering design-to-delivery apparel production (3L+ monthly capacity), tech-enabled warehousing, reverse logistics/returns management, and its own brand, "7ate9," via integrated WMS and a pan-India fulfilment network.
8. When is the Fractal Industries IPO listing date?
The Fractal Industries Ltd IPO lists on 23rd February, 2026, on NSE SME (~T+3 post-allotment Feb 19).
9. What are the details of the utilisation of proceeds from the Fractal Industries IPO?
The Fractal Industries IPO fresh issue proceeds of ₹46.54-49 Cr target working capital requirements (~₹36.50 Cr) and general corporate purposes (balance ~₹10-12 Cr)—funding e-commerce supply chain scaling, inventory expansion, and operational enhancements.
