GIFT City's First IPO: XED Seeks $12 Million, Issue Opens In March 2026

XED Executive Development Ltd has filed papers for raising about USD 12 million through its initial public offering (IPO), setting the stage for the first public issue to be launched from GIFT City, India's International Financial Services Centre (IFSC).

The company's IPO is expected to open for subscription in the first week of March 2026, according to its statement.

The offering marks a major step for Gujarat International Finance Tec-City, India's IFSC, as it prepares to see its first public issue under the regulatory framework of the International Financial Services Centres Authority (IFSCA).

XED said it has secured approvals from the stock exchanges and filed its Red Herring Prospectus with the Registrar of Companies (RoC) after completing all regulatory requirements.

The IPO will be open to eligible investors under the IFSCA framework, including non-resident Indians (NRIs), foreign portfolio investors (FPIs), institutional investors, and other permitted overseas participants.

The shares will be listed on NSE International Exchange and India International Exchange at GIFT City and will be traded as dollar-denominated instruments, targeting overseas investors.

The anchor investor portion of the issue is expected to close by the end of this month.

XED Executive Development is a leading provider of executive education, serving senior professionals across more than 25 countries, with operations spanning India, the Middle East, Southeast Asia and North America.

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