| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹49.00 Cr |
| Reserved for Market Maker | ₹2.46 Cr |
| Net Issue Size | ₹49.00 Cr |
| Fresh Issue | ₹46.54 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹205.00-216.00 per share |
| BSE Code | 544707 |
| Registrar | Kfin Technologies Ltd. |
| Lead Managers | Finaax Capital Advisors Pvt.Ltd. |
| Allotment Status | |
| DRHP |
| RHP |
| Final Prospectus |
| Anchor List |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 1,200 shares · Multiples of 600 shares
Fractal Industries is engaged in designing, sourcing, and manufacturing garments and providing end-to-end warehousing and supply chain services for e-commerce platforms such as Myntra, Ajio, and similar marketplaces. The company has a Pan-India presence and focuses on fast-moving, high-quality apparel for online marketplaces.
The company offers integrated services covering design-to-delivery manufacturing, scalable production, strict quality control, and technology-driven supply chain management. These services help brands and private labels launch products faster, reduce costs, and improve customer satisfaction.
The company started its operations by manufacturing garments for Myntra and gradually expanded to serve other marketplaces. The company has a monthly production capacity of over 3,00,000 garments. Its manufacturing unit is located in Mumbai, and warehouses are spread across Gujarat, Maharashtra, Haryana, West Bengal, and Karnataka.
It also provides value-added services, including Product Management Systems, Data Analytics, Logistics Management, Order and Inventory Management, Returns Management, and Multi-Channel Sales support.
1. Outright Sale of Garments:
Under this model, the Company manufactures garments and sells them directly to e-commerce platforms at a fixed wholesale price. Once delivered, ownership of the goods transfers to the platform, which manages warehousing, sales, marketing, and customer delivery. The Company’s involvement ends after sale, except for quality-related issues or returns.
2. PPMP Model (Pure Play Market Place):
In this model, the Company designs, manufactures, and sells garments under brands owned by e-commerce platforms. The Company manages demand forecasting, inventory, warehousing, and order fulfillment, while the platform charges a commission on sales. Orders are processed through Company-owned, tech-enabled warehouses integrated with the marketplace’s systems to ensure fast delivery and real-time inventory tracking.
3. Direct Sale of Garments (Own Brand):
The Company manufactures and sells garments under its own brand through online marketplaces. The Company manages inventory, packaging, shipping, delivery, and returns. The Company launched its own brand, “7ate9,” on May 26, 2025, and commercial sales are expected to begin in FY 2025–26.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements of the Company | 36.50 |
| 2 | General Corporate Purposes | 7.35 |
| 3 | Issue Expenses | 5.15 |
| Total | 49.00 |
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 62.03 | 51.42 | 42.27 | 41.21 |
| Total Income | 47.33 | 85.51 | 50.01 | 88.91 |
| Profit After Tax | 6.78 | 7.54 | 2.27 | 2.66 |
| EBITDA | 9.29 | 11.15 | 4.05 | 4.13 |
| NET Worth | 23.59 | 15.70 | 8.16 | 5.89 |
| Reserves and Surplus | 18.01 | 15.20 | 7.66 | 5.39 |
| Total Borrowing | 24.63 | 27.61 | 21.88 | 14.05 |
| Amount in ₹ Crore | ||||
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 34.52% | 63.20% |
| ROCE | 18.99% | 25.07% |
| Debt / Equity | 1.04% | 1.76% |
| RoNW | 28.74% | 48.02% |
| PAT Margin | 14.34% | 8.82% |
| EBITDA Margin | 19.63% | 13.04% |
| Price to Book Value | 7.57 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 13.51 | 17.28 |
| P/E (x) | 15.99 | 12.5 |
| Promoter Holding | 97.15% | 69.07% |
| Market Cap | ₹169.54 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager fees | 0.25 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable Advertising and Publishing Expenses | 0.06 |
| 4 | Fees Payable to Regulators including Stock Exchanges and other Intermediaries | 0.16 |
| 5 | Printing and stationery expenses | 0.02 |
| 6 | Fees payable to Peer Review Auditor and Legal | 0.11 |
| 7 | Fees Payable to Market Maker (for Three year) | 0.10 |
| 8 | Escrow & Sponsor Bank Fees | 0.01 |
| 9 | Others (Fees payable for marketing & distribution expenses, selling commission, brokerage, processing fees, underwriting fees and miscellaneous expenses) | 4.44 |
| Total | 5.15 |
Last Updated on 23-Feb-2026 10:17:56