Xtranet Technologies launches ₹167 crore IPO
The IT solutions provider is seeking primary market capital to fund growth after posting a 36% jump in annual profit.
Xtranet Technologies will open its ₹167 crore initial public offering on Thursday, July 23, giving investors exposure to an integrated IT services provider. The mainboard issue will close for subscription on July 27.
The entire offering consists of a fresh issue of 1.31 crore equity shares. There is no offer for sale component, meaning all capital raised will go directly to Xtranet rather than being distributed to existing shareholders. The promoters of the company are Sukhbir Singh Kukreja, Jogendrapal Singh Alagh and Shiney Sukhbir.
Xtranet is coming to market amid a period of accelerated earnings growth. In the financial year ended March 2026, total income rose 32% year-on-year to ₹366.01 crore, up from ₹276.53 crore in FY25. Profit after tax increased by 36% to ₹40.73 crore, while EBITDA improved to ₹63.18 crore from ₹47.20 crore.
The IPO has been priced in a band of ₹120 to ₹127 per share. According to Investorgain, the grey market premium stands at ₹18, indicating strong early demand ahead of the listing. If this premium holds through pricing, it would represent a listing gain of roughly 14% to 15% for retail alloctees.
Established in 2002, Xtranet delivers enterprise applications, digital transformation services and proprietary technology platforms across multiple industries. Share India Capital Services is acting as the book running lead manager, with Kfin Technologies serving as registrar.
The allocation framework reserves 50% of the net issue for qualified institutional buyers. Retail individual investors are guaranteed at least 35% of the shares, while non-institutional investors have access to 15%. For small non-institutional investors, the minimum bid is fixed at 15 lots, or 1,650 shares, requiring a minimum investment of ₹209,550.
Allotment is scheduled to be finalized on July 28. Shares will list on both the NSE and BSE on July 30.
