Xtranet Technologies IPO Subscription Status Day 1: Retail Leads at 20%, Issue Booked Over 10%

The initial public offering of Xtranet Technologies Limited opened for subscription on Thursday, July 23, and will remain open until July 27, according to the exchange schedule. The IT solutions provider has fixed a price band of ₹120 to ₹127 per equity share, with a minimum lot of 110 shares and multiples thereafter.

The ₹166.80 crore issue is entirely a fresh issue of 1,31,34,000 equity shares, according to the offer document. Of the net offer, 50 percent has been reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs) and 35 percent for retail individual investors.

Ahead of the opening, Xtranet Technologies raised ₹50.04 crore from 10 anchor investors, allocating 39,40,200 shares at ₹127 apiece, according to the anchor allocation disclosure. Participants in the anchor round included Taurus Midcap Mutual Fund, Steptrade Revolution Fund, Tiger Strategies Fund, Venus Investments VCC, Longthrive Capital VCC, Innivative Vision Fund, Saint Capital Fund and Viney Growth Fund.

By 10:20 am on Day 1, the issue had been subscribed over 10 percent overall, with retail investors leading demand at 20 percent and non-institutional investors at 5 percent, according to data from the NSE. The issue saw bids for 9,63,050 shares against the 91,93,800 shares on offer.

Xtranet Technologies IPO Book Running Lead Managers

Book-running lead manager and registrar details for the Xtranet Technologies IPO have not been disclosed in the available data and will be updated once confirmed.

Conclusion

Bidding for the Xtranet Technologies IPO remains open through July 27, with the QIB category one to watch heading into Day 2 after showing no disclosed movement on the opening day. The basis of allotment is expected to be finalised on July 28, ahead of a tentative listing on BSE and NSE on July 30.

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