Xtranet Technologies IPO Opens 23 July At ₹120-₹127; Fresh Issue Of ₹166.8 Crore With No OFS

Xtranet Technologies, a Bengaluru-based integrated information technology (IT) solutions provider, has set a price band of ₹120 to ₹127 per share for its mainboard initial public offering (IPO). The issue opens for subscription on 23 July and closes on 27 July, with anchor investor bidding on 22 July.

Allotment is expected to be finalised on 28 July, with shares credited on 29 July. The stock is set to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on 30 July. At the upper end of the price band, Xtranet Technologies will carry a pre-IPO market capitalisation of approximately ₹664 crore.

Issue Structure And Allocation

The Xtranet Technologies IPO is entirely a fresh issue of 1.31 crore shares aggregating ₹166.8 crore, with no offer for sale (OFS) component. This means all proceeds will flow directly to the company. Of the total issue, up to 50% is reserved for qualified institutional buyers, at least 35% for retail investors and at least 15% for non-institutional investors.

The minimum bid size is 110 shares. Retail investors applying for one lot at the upper price band will need to invest ₹13,970. Share India Capital Services is the book-running lead manager, and KFin Technologies is the registrar.

How Proceeds Will Be Used

The largest allocation from the fresh issue, ₹102 crore, will go towards working capital requirements. A further ₹21.99 crore will be used to repay or prepay outstanding borrowings, and ₹7.30 crore will fund capital expenditure for systems and hardware. The balance will be used for general corporate purposes.

About The Company

Founded in 2002, Xtranet Technologies offers enterprise applications, IT system integration, managed services, digital transformation, data centre management, cloud integration and infrastructure management. A significant portion of its business comes from government departments and public sector undertakings.

The company has also built two proprietary platforms: Synergy, a low-code digital transformation tool, and XtraTrust, a digital authentication platform. As of April 2026, it employed 504 permanent staff.

Financial Performance

Xtranet has delivered consistent growth. Total income rose 32% to ₹366 crore in FY26 from ₹276.53 crore in FY25. Profit after tax grew 36% to ₹40.73 crore from ₹30.03 crore. EBITDA rose to ₹63.18 crore from ₹47.20 crore over the same period.

Also Read - HDFC Bank Q1FY27 Results: Profit Misses Estimates; Shares Slide Over 4%