Xtranet Technologies IPO opens today: Check latest GMP, subscription status, and other details - Apply or not?

Xtranet Technologies IPO Day 1: The initial public offering (IPO) of Xtranet Technologies opened for subscription on July 23 and will close on July 27. The company has fixed a price band of ₹120-127 per share and aims to raise ₹167 crore through a fresh issue of 1.31 crore equity shares, with no offer-for-sale (OFS) component.

The basis of allotment is expected to be finalised on July 28, while successful bidders are likely to receive shares in their demat accounts on July 29. Refunds for unsuccessful applicants are also expected to be initiated on the same day. The shares are scheduled to make their stock market debut on the BSE and NSE on July 30.

The company plans to utilise the net proceeds from the issue primarily towards repayment or prepayment of certain outstanding borrowings, capital expenditure for the purchase and installation of systems and hardware, and meeting working capital requirements, with the remaining funds earmarked for general corporate purposes.

The IPO has a lot size of 110 shares, requiring a minimum investment of ₹13,970 for retail investors at the upper end of the price band.

Ahead of the public issue, Xtranet Technologies raised ₹50 crore from anchor investors.

Share India Capital Services Pvt. Ltd. is the book-running lead manager to the issue, while KFin Technologies Ltd. is the registrar.

Investor sentiment toward the IPO is in the green, as Xtranet Technologies grey market premium (GMP) is ₹13 today. This suggests that the stock is likely to debut at ₹140, a premium of 10.24% from IPO price.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Swastika Investmart has assigned a 'subscribe' rating to the Xtranet Technologies IPO for investors with a medium-term investment horizon and moderate risk appetite, citing the company's consistent growth in revenue and profitability. The brokerage believes the issue is fairly valued based on its recent financial performance.

Swastika also noted that the company had an order book of ₹356.96 crore as of April 30, 2026, providing healthy revenue visibility. It recommends investors consider subscribing to the issue with a moderate allocation.

Founded in 2002, Xtranet Technologies is an integrated IT solutions provider offering end-to-end services across enterprise applications, digital transformation, managed services, proprietary platforms, and strategic technology partnerships. The company caters to clients across multiple industries through a combination of onsite and offshore delivery models, supported by its subsidiaries, joint ventures, and in-house platforms.

The company reported strong financial performance in FY26, with total income rising 32% year-on-year to ₹366.01 crore from ₹276.53 crore in FY25. Profit after tax (PAT) increased 36% to ₹40.73 crore, while EBITDA grew to ₹63.18 crore from ₹47.20 crore in the previous financial year.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track recor...