Fractal Industries IPO GMP Today, Price, Review 2026

Fractal Industries IPO GMP, Date, Price, Review & Complete Analysis (2026)

The Indian e-commerce apparel industry is expanding at a rapid pace. Every clothing brand wants to sell on Myntra, Ajio, and Flipkart. However, very few brands truly understand how complex backend operations are — manufacturing, inventory management, warehousing, technology integration, and handling massive return volumes.

That is exactly where Fractal Industries Limited operates.

They are not a flashy D2C fashion label. They are the silent backend engine powering e-commerce apparel growth.

But as an investor, you don’t buy a story. 

You buy sustainability, margins, and risk-adjusted opportunity.

Fractal Industries IPO – Quick Overview (Snapshot for Featured Snippets)

Fractal Industries IPO GMP (Grey Market Premium)

With the upper price band set at ₹216, the Fractal Industries IPO GMP has become active in the unofficial grey market.

Latest GMP Update (As of 11-Feb-2026)

• GMP: ₹7
• Expected Listing Price: ₹223
• Estimated Listing Gain: 3.24%

The Fractal Industries Limited IPO GMP indicates moderate initial demand.

What GMP Suggests

• Positive subscription = Higher GMP
• Weak demand = Flat or declining GMP
• Aggressive valuation = GMP may cool down

⚠ GMP is unofficial and speculative. It is not guaranteed.

About Fractal Industries Limited

What Does Fractal Industries Limited Actually Do?

Fractal Industries Limited is a full-service garment manufacturing and tech-enabled supply chain company serving major e-commerce platforms.

They:

• Design garments
• Source raw materials
• Manufacture apparel
• Store inventory in tech-enabled warehouses
• Manage supply chain
• Handle marketplace distribution

They operate as a hybrid B2B/B2C backend partner for digital fashion platforms.

Business Model Breakdown

1. Core Manufacturing Model

Fractal manufactures apparel for:

• Myntra
• Ajio
• Flipkart

Instead of building their own fashion brand, they focus on private-label production.

2. PPMP Model (Pure Play Market Place)

Under the PPMP model:

• They manufacture garments for marketplace-owned brands.
• They manage warehouse inventory.
• They operate fulfillment infrastructure.

This allows them to scale volume without traditional brand marketing expenses.

3. Infrastructure & Capacity

• Manufacturing capacity: 3,00,000+ garments per month
• Warehouses across:
  • Gujarat
  • Maharashtra
  • Haryana
  • West Bengal
  • Karnataka

This positions the Fractal Industries Limited IPO as a structural bet on India’s e-commerce logistics backbone.

Financial Analysis of Fractal Industries Limited IPO

Let’s break down the numbers without bias.

Revenue & Profit Overview

(Rounded for readability)

Financial Observations

Revenue Volatility

Revenue declined sharply in FY24:

₹88.91 Cr → ₹49.94 Cr

But it rebounded in FY25 to ₹85.44 Cr.

This indicates dependence on large contracts.

Profitability Explosion

FY25 profit jumped to ₹7.53 Cr from ₹2.26 Cr in FY24.

In just 6 months of FY26:

₹6.78 Cr profit already recorded.

Margins are clearly expanding.

This is one reason the Fractal Industries IPO GMP shows early interest.

Debt Analysis

Total Borrowings (Sep 2025): ₹24.62 Cr

Working capital-heavy business models often require debt.

The key question:

Will cash flow improve alongside profit growth?

Cash Flow Reality Check

Operating Cash Flow:

• FY24: -₹10.01 Cr
• FY25: -₹3.51 Cr

Despite increasing profits, operating cash flow remains negative.

This suggests:

• Inventory pressure
• Working capital strain
• Receivables management challenges

Investors must not ignore this.

Use of IPO Funds

Since this is a 100% fresh issue, proceeds will go to:

1. Working Capital (Major Allocation)

Up to ₹36.50 Crores.

Garment manufacturing + warehousing = capital intensive.

2. General Corporate Purposes

No promoter exit = confidence signal.

Industry Opportunity

India’s online fashion industry is expected to grow steadily due to:

• Tier 2 & Tier 3 penetration
• Affordable smartphones
• Faster logistics
• Private-label growth

Fractal Industries operates in the backend infrastructure layer of this growth.

Key Risk Factors

Before tracking the Fractal Industries Limited IPO GMP, review these red flags.

1. Extreme Client Concentration Risk

Top 5 customers contribute 99.79% of revenue (as of Sep 2025).

This is the biggest risk.

If one major marketplace reduces orders, revenue collapses.

2. Negative Operating Cash Flow

Profit is rising.

Cash flow is weak.

This mismatch must be monitored post-listing.

3. Working Capital Heavy Business

Inventory management is complex.

Fashion returns can hurt margins.

Return rates in online apparel are high.

4. SME Liquidity Risk

Since listing is on BSE SME:

• Lower liquidity
• Higher volatility
• Larger lot sizes

Valuation Perspective

At ₹216 (upper band):

The valuation is based on strong FY25 & H1 FY26 earnings momentum.

If:

• Profit sustains
• Revenue stabilizes
• Cash flow improves

Then valuation could be justified.

Otherwise, volatility may increase.

Fractal Industries IPO – Should You Apply?

For Listing Gains

Given current Fractal Industries IPO GMP ₹7, listing gains appear moderate.

Subscription levels will be crucial.

If you apply using Trading apps like Firstock - Option Trading App, ensure funds are blocked early due to SME lot size requirements.

For Long-Term Investors

Apply only if:

• You believe in e-commerce backend growth
• You accept client concentration risk
• You are comfortable with SME volatility

For Conservative Investors

Avoid due to:

• 99.79% client dependency
• Negative operating cash flow
• Working capital pressure

Strategic Investor View

Fractal Industries Limited IPO is:

• A backend logistics play
• A private-label manufacturing play
• A scalable but dependent model

High growth potential.

High dependency risk.

Final Conclusion

The Fractal Industries IPO is a backend infrastructure bet on India’s booming e-commerce apparel sector.

The Fractal Industries Limited IPO GMP shows moderate positive interest.

However:

• Extreme customer concentration
• Negative operating cash flow
• SME listing volatility

make this a moderate-to-high risk IPO.

If margins sustain and client diversification improves, the long-term story could strengthen.

Until then — apply with caution, allocate wisely, and manage expectations.

FAQ’s

1. What is the Fractal Industries IPO open date?

The IPO opens on February 16, 2026 and closes on February 18, 2026.

2. What is the latest Fractal Industries IPO GMP?

As of 11-Feb-2026, GMP is ₹7 indicating an estimated listing price of ₹223.

3. Is Fractal Industries Limited IPO a fresh issue or OFS?

It is a 100% fresh issue of 22,68,600 equity shares.

4. Where will Fractal Industries Limited list?

The shares will list on the BSE SME platform.

5. What is the minimum investment?

Since it is an SME IPO, the minimum investment is expected to be above ₹2–₹2.5 lakh.

6. What are the main risks in Fractal Industries Limited IPO?

• Client concentration (99.79% revenue from top 5 customers)
• Negative operating cash flow
• High working capital requirements

7. Why is Fractal Industries IPO GMP important?

GMP reflects grey market sentiment but does not guarantee listing gains.

8. How can I apply for Fractal Industries IPO?

You can apply via your trading platform or stock brokers of India like Firstock using ASBA or UPI mandate.

9. Is Fractal Industries Pvt Ltd IPO GMP reliable?

Grey market premiums are unofficial and speculative. They should not be the only basis for investment decisions.

10. Is Fractal Industries Limited profitable?

Yes. Net profit rose to ₹7.53 Cr in FY25 and ₹6.78 Cr in H1 FY26.

Disclaimer: Investments in the securities market are subject to market risks. Read all related documents carefully before investing.