Xtranet Technologies opens about 7% above IPO at ₹136
Xtranet Technologies just made its stock market debut, opening at ₹136 on NSE and ₹130.10 on BSE, about 7% above the IPO price of ₹127.
While that's a solid start, it didn't quite hit the gray market's predicted price of ₹141.5, so expectations were a bit higher than reality.
Xtranet IPO offered 1.31 cr shares
The IPO ran from July 23 to July 27, offering 1.31 crore new shares worth ₹166.8 crore (no offer for sale this time).
Up to 50% of the net issue was reserved for Qualified Institutional Buyers, at least 35% for retail investors, and a minimum of 15% for non-institutional investors.
Minimum application sizes varied: small non-institutional investors could bid for 1,650 shares, while big non-institutional investors had to go for at least 7,920 shares.
Xtranet has been around since 2002, focusing on IT solutions like cloud migration and cybersecurity, helping businesses stay sharp in the digital world.