The primary market is shaking off the quiet and finding its groove again. After a measured start to the year, the week of February 9th is shaping up to be a significant litmus test for investor appetite. With ₹3,840 crore on the table, all eyes are on an AI powerhouse and a micro-lending specialist to see if they can spark a fresh rally.
Whether you are a seasoned HNI or a retail investor looking for the next growth story, here is the breakdown of the IPO landscape for the coming days.
The Big Players: Mainboard Movers
This week is dominated by two distinct business models: cutting-edge data science and boots-on-the-ground financial inclusion.
Fractal Analytics: The AI Play
As one of the most anticipated tech debuts, Fractal Analytics is hitting the floor with a massive ₹2,833.90 crore issue.
- Subscription Window: February 9 to February 11
- Price Band: ₹857 to ₹900 per share
- Lot Size: 16 Shares
- The Strategy: This is not just a cash grab. Fractal plans to fuel its US subsidiary, slash existing debt, and double down on R&D. In an era where AI is the undisputed king of enterprise tech, this listing is a significant signal for the Indian SaaS and analytics ecosystem.
Aye Finance: Empowering the Grassroots
Switching gears to the credit sector, Aye Finance brings its ₹1,010 crore IPO to the public.
- Subscription Window: February 9 to February 11
- Price Band: ₹122 to ₹129 per share
- Lot Size: 116 Shares
- The Strategy: As an NBFC dedicated to micro and small enterprises, Aye Finance is looking to bolster its capital base. For investors who believe in the “India growth story” at the SME level, this issue offers direct exposure to the credit-hungry MSME sector.
The SME Spotlight: Marushika Technology
For those who prefer the high-growth (and high-risk) SME segment, Marushika Technology enters the fray mid-week.
- Dates: February 12 to February 16
- Issue Size: ₹26.97 crore (100% fresh equity)
- Price Band: ₹111 to ₹117 per share
- The Play: Listing on the NSE SME platform, this IT and telecom infrastructure distributor is looking to clean up its balance sheet by repaying debt and boosting working capital. It’s a classic “scale-up” play for niche investors.
Secondary Market Buzz: Fresh Listings to Watch
It’s not just about the newcomers; four companies are finishing their journey from “IPO” to “Listed Stock” this week. Keep an eye on the ticker for potential listing gains or entry points:
| Company | Listing Date | Segment |
| Brandman Retail | Feb 11 | SME |
| Grover Jewells | Feb 11 | SME |
| Biopol Chemicals | Feb 13 | SME |
| PAN HR Solutions | Feb 13 | SME |
Investor Takeaway
The mix of high-end analytics and essential finance suggests a healthy diversification in the market. While Fractal targets the global tech narrative, Aye Finance leans into domestic resilience.
Pro Tip: With the mainboard issues closing as early as Wednesday, make sure your UPI mandates and demat accounts are ready by Monday morning to avoid the last-minute rush.
