Xtranet Technologies' Rs 166.8-crore IPO, which was fully subscribed on Day 1, entered its second day of bidding on Friday with a grey market premium (GMP) of Rs 8, indicating an estimated listing gain of about 6% over the upper price band.
Day 1 Subscription Status:The IPO was booked 1.11 times on Thursday, with investors bidding for 1,01,64,770 shares against the 91,93,800 shares on offer.
- QIBs: 0.91 times
- NIIs: 1.04 times
- RIIs: 1.55 times
The IPO has attracted attention due to the company's consistent earnings growth and exposure to enterprise software and digital transformation services.
Here's everything investors need to know about Xtranet Technologies IPO before placing their bids.
Xtranet Technologies IPO GMP Today
Xtranet Technologies IPO GMP today stood at Rs 8. Based on the upper price band of Rs 127 per share, the estimated listing price works out to Rs 135, implying a potential listing premium of around 6.3%.
Despite the investor interest seen on Day 1, the GMP saw a slight decline before settling at Rs 9 at the end of Day 1.
Note: Grey market premium is an unofficial market indicator and should not be considered a guarantee of listing performance.
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Xtranet Technologies IPO Details
The Rs 166.80-crore IPO is a book-built issue comprising a fresh issue of 1.31 crore equity shares.
The price band has been fixed at Rs 120-127 per share.
Investor Categories
- Retail: Minimum application of 110 shares, requiring an investment of Rs 13,970
- Small NII: Minimum application of 15 lots, amounting to Rs 2,09,550
- Big NII: Minimum application of 72 lots, requiring an investment of Rs 10,05,840
Share India Capital Services Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.
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Xtranet Technologies IPO: Allotment And Listing Date
The share allotment status is expected to be finalised on July 28. Shares are likely to be credited to successful applicants' demat accounts on July 29, while refunds to unsuccessful bidders are also scheduled for the same day. The shares are tentatively scheduled to list on the BSE and NSE on July 30.
Use Of Proceeds
The company intends to utilise the net proceeds from the IPO towards repayment of borrowings, capital expenditure, working capital requirements and general corporate purposes.
Xtranet Technologies Financial Performance
Revenue grew 32.3% YoY to Rs 365.29 crore, while net profit increased 35.6% to Rs 40.73 crore in FY26, indicating healthy earnings growth ahead of the IPO.
About Xtranet Technologies
Founded in 2002, Xtranet Technologies is a Bhopal-based integrated IT solutions provider. The company offers enterprise software, digital transformation services, proprietary technology platforms and technology partnerships to businesses across multiple industries.
Disclaimer: Investments in initial public offerings are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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