What is the current IPO subscription status for Fractal Analytics?

By the end of day two, the offer was subscribed about 0.20x overall, with QIBs at roughly 0.02x. Final-day bids will determine where pricing lands within the ₹857–₹900 band and how allocations shape up ahead of the planned February 16 listing.

How reliable is the grey market premium for this IPO?

Grey market premium is only a sentiment indicator. It is informal and can change fast. Use it as a soft signal alongside the final subscription split, especially QIB cover. Strong institutional demand can outweigh a weak GMP, while thin books can make listing volatile.

How can Hong Kong investors participate in the Fractal Analytics IPO?

Most HK retail cannot apply directly. If your broker supports India equities, consider buying after the February 16 listing once liquidity and spreads are clear. Start small, monitor volume and price stability, and add only if order flow and delivery data improve.

What does the ₹857–₹900 price band suggest?

The band implies confident growth expectations for an enterprise-AI services player. A clear near the lower end may signal valuation resistance. A clear near the top suggests stronger demand and better sponsorship. Watch QIB and NII bids today to gauge likely cut-off pricing.

Global Market Insights

Fractal Analytics IPO February 11: Tepid Bids Test ₹857–₹900 Band

ByHuzaifa Zahoor February 11, 2026February 11, 2026

Fractal Analytics IPO enters its final day with a weak order book, testing the ₹857–₹900 price band. The ₹2,834 crore offer saw only 0.20x overall bids by day two, with QIBs at 0.02x. For Hong Kong investors, demand signals today will guide listing expectations on February 16. We explain the IPO subscription status, grey market premium cues, and how to frame risk and access from HK before deciding on post-listing trades.