Xtranet Technologies' Rs 166.8-crore initial public offering (IPO) opens for subscription today, July 23. Ahead of the issue opening, the grey market premium (GMP) continued to indicate a potential listing premium of over 14%, drawing investor interest in the Bhopal-based IT solutions provider.
The IPO is among the three mainboard public issues opening for subscription today. Here's everything investors need to know before placing their bids.
Xtranet Technologies IPO GMP Today
According to InvestorGain, the latest grey market premium (GMP) for the Xtranet Technologies IPO stood at Rs 13. Based on the upper price band of Rs 127 per share, the estimated listing price works out to Rs 140, implying a potential listing premium of around 10.24%.
Note: Grey market premium is an unofficial market indicator and should not be considered a guarantee of listing performance.
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
IPO Reservation
- Qualified Institutional Buyers (QIB): Up to 50%
- Retail Investors: At least 35%
- Non-Institutional Investors (NII): At least 15%
Share India Capital Services Ltd. is the book-running lead manager, while KFin Technologies Ltd. is the registrar to the issue.
Xtranet Technologies IPO Dates
The IPO opens for subscription on July 23 and closes on July 27.
The basis of allotment 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
Xtranet Technologies reported strong growth in FY26, with revenue from operations increasing 32.3% to Rs 365.29 crore.
Net profit rose 35.6% to Rs 40.73 crore, reflecting healthy earnings momentum ahead of the public issue.
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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