Xtranet Technologies IPO ends with 12.24 times subscription

The offer received bids for 11.25 crore shares as against 91.93 lakh shares on offer.

The initial public offer of Xtranet Technologies received bids for 11,25,20,210 shares as against 91,93,800 shares on offer. The issue was subscribed to 12.24 times.

The non-institutional investors (NII) category was subscribed 26.65 times, the retail individual investors category was subscribed 8.98 times and the qualified institutional buyers' (QIBs) portion was subscribed 7.13 times.

The issue opened for bidding on 23 July 2026 and it closed on 27 July 2026. The price band of the IPO is fixed between Rs 120 and 127 per share.

The IPO was entirely a fresh issue of shares worth Rs 170 crore at the upper price band of Rs 127. The fresh issuance comprised 1,33,85,827 shares, with no offer for sale (OFS) component. At the upper end of the price band, the company was valued at Rs 667 crore post listing.

The proceeds of Rs 102 crore were earmarked for funding working capital requirements; Rs 20.20 crore was allocated towards repayment of a part of the borrowings; Rs 8.50 crore was designated for capital expenditure, while the remaining amount was allocated for general corporate purposes.

Xtranet Technologies is an end-to-end IT solutions provider offering enterprise applications, digital transformation, managed services, system integration, data centre solutions, and proprietary platforms. Its offerings include ERP implementation, application development, cloud and infrastructure management, and digital trust services through its XtraTrust platform. The company generates revenue from fixed-price projects, time-and-material contracts, and recurring service agreements, with a significant contribution from government and PSU clients. It primarily operates in the domestic market, with Maharashtra and Madhya Pradesh being its key revenue-generating states, and has offices across major Indian cities.

Ahead of the IPO, Xtranet Technologies, on 22 July 2026, raised Rs 492.11 crore from anchor investors. The board allotted 1.15 crore shares at Rs 425 each to 27 anchor investors.

The firm reported a consolidated net profit of Rs 40.73 crore and sales of Rs 365.29 crore for the twelve months ended on 31 March 2026.

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