Xtranet Technologies IPO

23 Jul 2026

JM Financial Services

Xtranet Technologies IPO 2026: Price Band, Dates & Financials

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