Xtranet Technologies Ltd. debuted on the stock market on Thursday, listing at a premium of 7.09% to its IPO price. The stock opened at Rs 136 on the NSE which is a rise from the IPO price of Rs 127. On the BSE, it began trading at Rs 130.10 per share which marks a 2.44% premium.
However, the stock slided soon on BSE to end at the listing price of Rs 127 at 10:00 am while on the NSE, it was trading at Rs 129.
The initial public offering (IPO) of Xtranet Technologies Ltd. received 12.24 times subscription on the closing day of bidding on Monday, July 27.
The IPO received bids for 11,25,20,210 shares against 91,93,800 shares on offer, as per NSE data. The category for non-institutional investors got subscribed 26.65 times, while the portion for retail investors received 8.98 times subscription. The portion for qualified institutional buyers (QIBs) fetched 7.13 times subscription.
The IPO of Xtranet Technologies Ltd was fully subscribed on the first day of bidding on Thursday, July 23. The IPO closed on July 27.
Ahead of the IPO, Xtranet Technologies allotted 39.40 lakh equity shares to anchor investors at Rs 127 apiece, raising about Rs 50 crore. The company offers a wide range of IT & IT-enabled services. Share India Capital Services Private Ltd is the book-running lead manager to the offer.
Established in 2002, Xtranet Technologies is an integrated IT solutions provider, delivering enterprise software, digital transformation services, proprietary technology platforms, and technology partnerships to businesses across industries.
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