Xtranet Technologies IPO: Overview
Xtranet Technologies Limited, a Bhopal-based enterprise IT solutions and digital transformation company, opened its ₹166.80 crore mainboard IPO on July 23, 2026. The issue closes on July 27, 2026, with listing on both BSE and NSE expected on July 30, 2026.
The issue is entirely a fresh issue — there is no offer-for-sale component — meaning all proceeds go directly to the company rather than to existing shareholders cashing out.
Xtranet Technologies IPO: Key Dates
|
Event |
Date |
|
Anchor Bidding Date |
July 22, 2026 |
|
IPO Open Date |
July 23, 2026 |
|
IPO Close Date |
July 27, 2026 |
|
Basis of Allotment |
July 28, 2026 |
|
Refunds Initiated |
July 29, 2026 |
|
Credit to Demat Account |
July 29, 2026 |
|
Listing Date (BSE, NSE) |
July 30, 2026 |
Xtranet Technologies IPO: Issue Details
|
Particular |
Detail |
|
Face Value |
₹10 per equity share |
|
Price Band |
₹120 to ₹127 per share |
|
Total Issue Size |
~₹166.80 crores |
|
Fresh Issue |
~₹166.80 crores (entire issue) |
|
Issue Type |
Book Building Issue |
|
Listing |
BSE, NSE |
Reservation is split as 35% for retail, 50% for QIB (including a 30% anchor allocation), and 15% for NII/HNI investors.
Xtranet Technologies IPO: Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Minimum) |
1 |
110 |
₹13,970 |
|
Retail (Maximum) |
14 |
1,540 |
₹1,95,580 |
|
S-HNI (Minimum) |
15 |
1,650 |
₹2,09,550 |
|
S-HNI (Maximum) |
71 |
7,810 |
₹9,91,870 |
|
B-HNI (Minimum) |
72 |
7,920 |
₹10,05,840 |
About Xtranet Technologies
Founded in 2002 and headquartered in Bhopal, Xtranet Technologies is an IT solutions and digital transformation provider offering enterprise applications (ERP, system integration, cloud, infrastructure services), managed services (IT infrastructure management and modernization), and digital services (IaaS, PaaS, SaaS). The company also runs two proprietary platforms — Synergy (a low-code platform) and XtraTrust.
The business model spans fixed-price projects, time-and-materials contracts, and recurring service agreements, with a significant share of revenue coming from government and PSU clients — a segment the company highlights as a key strength, citing a proven track record executing projects for government departments and public sector undertakings, delivered through both onsite and offshore models.
Objects of the Issue
|
Purpose |
Amount |
|
Repayment/prepayment of outstanding borrowings |
₹21.99 crores |
|
Capital expenditure — purchase and installation of systems and hardware |
₹7.30 crores |
|
Working capital requirements |
₹102.00 crores |
|
General corporate purposes |
Balance amount |
Financial Performance
|
Period |
Revenue |
Expense |
PAT |
Assets |
|
FY2023 |
₹222.78 Cr |
₹215.04 Cr |
₹5.98 Cr |
₹223.99 Cr |
|
FY2024 |
₹233.26 Cr |
₹217.33 Cr |
₹10.94 Cr |
₹202.94 Cr |
|
FY2025 |
₹276.53 Cr |
₹237.75 Cr |
₹30.03 Cr |
₹321.79 Cr |
|
FY2026 |
₹366.01 Cr |
₹314.01 Cr |
₹40.73 Cr |
₹341.97 Cr |
Both revenue and profit have grown consistently each year, with PAT climbing from under ₹6 crore in FY23 to over ₹40 crore in FY26 — a sharp improvement in profitability alongside topline growth.
Key Valuation Metrics (FY2026)
|
KPI |
Value |
|
ROE |
34.78% |
|
ROCE |
32.52% |
|
EBITDA Margin |
17.30% |
|
PAT Margin |
11.15% |
|
Debt to Equity Ratio |
0.63 |
|
Basic EPS |
₹10.28 |
|
RoNW |
29.60% |
|
NAV |
₹34.74 |
Peer Comparison
|
Company |
EPS |
P/E Ratio |
RoNW |
NAV |
Income |
|
Silver Touch Technologies Ltd |
2.82 |
63.65 |
21.06% |
13.38 |
₹341.99 Cr |
|
Dynacons Systems & Solutions Ltd |
66.64 |
20.20 |
26.89% |
247.59 |
₹1,424.28 Cr |
|
Coforge Limited |
44.30 |
35.51 |
16.31% |
252.61 |
₹16,402.70 Cr |
Xtranet's own P/E ratio isn't disclosed as "N/A" in the offer document, but its RoNW of 29.60% compares favourably against all three listed peers shown above — worth weighing against the fact that these peers vary significantly in scale.
Promoter Holding
|
Particular |
Shares |
% Holding |
|
Pre-Issue Promoter Holding |
3,91,51,700 |
83.63% |
|
Post-Issue Promoter Holding |
5,22,85,700 |
62.63% |
Promoters include Sukhbir Singh Kukreja, Jogendrapal Singh Alagh, and Shiney Sukhbir.
How To Apply for the IPO ?
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