Retail investors drive Xtranet Technologies IPO to 1.96x subscription
Business
Xtranet Technologies's IPO was subscribed 1.96 times by Day two (July 24), with retail investors leading the way; they bid for over 1.14 crore shares, subscribing to 2.5 times their quota.
The IPO is priced at ₹120-₹127 per share and closes on July 27.
Xtranet NIIs bid nearly 3x quota
Non-Institutional Investors (NIIs) also showed solid interest, especially smaller ones who bid nearly three times their share.
Qualified Institutional Buyers (QIBs) were less excited, subscribing to just about 91% of their quota.
SBI Securities called the IPO "Neutral," saying the price is fair but pointing out risks like heavy reliance on government clients and long payment cycles.
After the IPO wraps up, Xtranet shares will list on both BSE and NSE.