Xtranet Technologies IPO opens today: Should you bid?
What's the story
Xtranet Technologies, an IT solutions provider, has launched its initial public offering (IPO) today. The three-day bidding period will end on July 27. The company plans to issue 1.31 crore equity shares with an aim to raise ₹166.8 crore through the IPO. Ahead of the issue, Xtranet Technologies' shares are commanding a 10% premium in the gray market indicating a positive investor sentiment toward its debut on the stock exchange.
Pricing strategy
Here's everything you need to know
Xtranet Technologies has set the IPO price band at ₹120-127 per share.
The company's shares will be listed on both BSE and NSE, with a tentative listing date of July 30.
The basis of allotment is likely to be finalized on July 28, while refunds and credit of shares to successful applicants are likely on July 29.
Company profile
More about the company
Founded in 2002, Xtranet Technologies offers integrated IT solutions across digital transformation, cloud computing, managed services, cybersecurity, and IT infrastructure.
The company provides cloud-based services through Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) models.
It also has proprietary products like Synergy, a low-code digital transformation platform.
A major chunk of its revenue comes from government departments and public sector enterprises (PSUs).
Financial growth
Financial performance and use of proceeds
Xtranet Technologies has witnessed robust growth in FY26 with a 32% YoY increase in total income to ₹366.01 crore from ₹276.53 crore in FY25.
The company's profit after tax (PAT) also grew by 36% to ₹40.73 crore, while EBITDA rose to ₹63.18 crore from ₹47.20 crore last year.
The IPO proceeds will be used for working capital requirements, repayment of borrowings, capital expenditure on upgrading systems and hardware, and general corporate purposes.