Xtranet Technologies IPO GMP today is Rs 10. Investors can use this GMP along with price band and subscription status for a better IPO review.
Open
Mainboard IPO
XTRANET
Xtranet Technologies
Xtranet Technologies Limited is an information technology solutions provider that delivers services across enterprise applications, managed services, digital services, and proprietary platforms. The company engages in system integration, enterprise resource planning implementation, cybersecurity, cloud services, and data center management. It caters to government departments, public sector undertakings, and private sector entities operating across diverse industry verticals. Xtranet Technologies Limited generates revenue through a combination of fixed-price contracts, time-and-materials arrangements, and recurring service agreements, obtaining projects through direct competitive bidding and indirect channels such as subcontractors or consortium partners. In addition to delivering IT services, the company procures hardware, software products, and networking components from external suppliers to execute and fulfill its project commitments.
IPO Details
Complete IPO information
| Current GMP | ₹10 |
|---|---|
| Estimated Listing Gain | +7.87% |
| Price Band | ₹120.00 - ₹127.00 |
| Issue Price | ₹127.00 |
| Listing Price | TBA |
| Lot Size | 110 Shares |
| Issue Type | Mainboard |
| Issue Size | Approx ₹166.80 Cr |
| Registrar | TBA |
| Exchange | NSE, BSE |
| Retail Quota | TBA |
| Overall Subscription | 1.96x |
| Listing Date | 30 Jul 2026 |
| Minimum Investment | ₹13,970 |
Timeline
IPO roadmap at a glance
01
Bidding Opens
23 Jul 2026
02
Bidding Closes
27 Jul 2026
03
Allotment
28 Jul 2026
04
Listing
30 Jul 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 24 Jul 2026 | ₹8.00 | -₹5.00 | 6.30% |
| 23 Jul 2026 | ₹13.00 | -₹5.00 | 10.24% |
| 22 Jul 2026 | ₹18.00 | -₹8.00 | 14.17% |
| 21 Jul 2026 | ₹26.00 | - | 20.47% |
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 110 | ₹13,970 |
| Retail Maximum | 14 Lot | 1,540 | ₹1,95,580 |
| S-HNI Minimum | 15 Lot | 1,650 | ₹2,09,550 |
| S-HNI Maximum | 71 Lot | 7,810 | ₹9,91,870 |
| B-HNI Minimum | 72 Lot | 7,920 | ₹10,05,840 |
Issue Notes
Important takeaways before applying
Strengths
- The company provides integrated IT solutions spanning enterprise applications, managed services, digital services, and proprietary platforms.
- The company has an unexecuted Order Book standing at ₹35,695.70 lakhs as of April 30, 2026.
- The company secured a 99-year lease from the Governor of Madhya Pradesh for land dedicated to its IT Park operations.
- The company serves a client base across both public and private sectors in verticals including automotive, education, and financial services.
- The company maintains proprietary digital solutions and software platforms including XtraTrust, eatNstay, and Peddle Point.
Risks
- The company depends heavily on a limited client base, with its top 10 customers generating 86.72% of Fiscal 2026 revenue.
- The company is exposed to public-sector procurement risks, with Government and PSU clients accounting for 47.06% of Fiscal 2026 revenue.
- The company faces geographic concentration risk, with 85.72% of Fiscal 2026 revenue derived from operations in Maharashtra, Madhya Pradesh, and Delhi.
- The company relies significantly on vendor concentration, with its top 10 suppliers accounting for 95.24% of total purchases in Fiscal 2026.
- The company operates with high working capital requirements, holding ₹11,133.06 lakhs in trade receivables and ₹7,769.36 lakhs in inventory as of Fiscal 2026.
Analysis
Xtranet Technologies IPO Details
Xtranet Technologies Limited is launching its Initial Public Offering (IPO) through the Book Build Issue route. The IPO consists entirely of a fresh issue, which means the proceeds raised will be utilized by the company to support its business expansion plans, strengthen its financial position, and meet other corporate requirements as specified in the offer document.
The equity shares of Xtranet Technologies Limited are proposed to be listed on both the BSE and the NSE. Investors can place bids within the prescribed price band during the IPO subscription period.
| Particular | Details |
|---|---|
| Xtranet Technologies IPO Open Date | July 23, 2026 |
| Xtranet Technologies IPO Close Date | July 27, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹120 to ₹127 Per Share |
| Issue Size | Approx ₹166.80 Crores |
| Fresh Issue | Approx ₹166.80 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE, NSE |
Analysis
Xtranet Technologies IPO Reservation
Xtranet Technologies Limited has allocated the IPO among different investor categories in accordance with the SEBI regulations applicable to book-built public issues. The reservation structure ensures participation from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs).
A significant portion of the issue has been reserved for institutional investors, while dedicated allocations have also been provided for non-institutional and retail investors, enabling broad participation in the IPO.
| Investor Category | Shares Offered | Shares (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | 50% |
| NII Shares Offered | – Shares | 15% |
| Retail Shares Offered | – Shares | 35% |
Analysis
Xtranet Technologies IPO Anchor Investors
Xtranet Technologies Limited has scheduled its Anchor Investor bidding process one day before the public issue opens. The anchor portion is reserved for eligible Qualified Institutional Buyers (QIBs) and is intended to strengthen institutional participation in the IPO.
The names of the participating anchor investors, total shares allotted, and the final anchor investment amount will be disclosed after the completion of the anchor allocation process.
| Particular | Details |
|---|---|
| Anchor Bidding Date | July 22, 2026 |
| Anchor Investors List | |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date (50% Shares – 30 Days) | 2026 |
| Lock-in Period End Date (Remaining 50% Shares – 90 Days) | 2026 |
Note: The final anchor allocation details, including the names of anchor investors, number of shares allotted, allocation value, and lock-in expiry dates, will be updated after the anchor book is finalized.
Analysis
Xtranet Technologies IPO Dates
The Xtranet Technologies IPO will open for public subscription on July 23, 2026 and will close on July 27, 2026. During this period, eligible investors can submit their bids through the ASBA facility or UPI-supported IPO application process.
The basis of allotment is expected to be finalized on July 28, 2026. Refunds for unsuccessful applicants and credit of equity shares to successful investors' demat accounts are scheduled for July 29, 2026. The company is proposed to be listed on both the BSE and the NSE on July 30, 2026.
| Event | Date |
|---|---|
| IPO Open Date | July 23, 2026 |
| IPO Close Date | July 27, 2026 |
| Basis of Allotment | July 28, 2026 |
| Refunds Initiation | July 29, 2026 |
| Credit to Demat Account | July 29, 2026 |
| IPO Listing Date | July 30, 2026 |
Analysis
Xtranet Technologies IPO Promoters and Holding Pattern
Xtranet Technologies Limited is promoted by Sukhbir Singh Kukreja, Jogendrapal Singh Alagh, and Shiney Sukhbir. The promoters have played a significant role in establishing and expanding the company's business operations and continue to provide strategic direction for its future growth.
Following the public issue, the promoters will continue to hold a majority stake in the company, reflecting their long-term commitment while also increasing the public shareholding as required under the IPO regulations.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 3,91,51,700 | 83.63% |
| Promoter Holding Post Issue | 5,22,85,700 | 62.63% |
Note: The post-issue shareholding reflects the promoter stake after completion of the IPO. Investors should refer to the final prospectus for the detailed shareholding pattern and any subsequent updates before listing.
Analysis
Xtranet Technologies IPO Objects of the Issue & Utilisation of Proceeds
The proceeds from the Xtranet Technologies IPO are proposed to be utilized for strengthening the company's financial position and supporting future business expansion. The company plans to reduce its debt burden, invest in technology infrastructure, and enhance working capital to support its growing operations.
In addition to these primary objectives, a portion of the IPO proceeds will also be used for general corporate purposes, providing financial flexibility for future strategic and operational requirements.
| Purpose | Amount |
|---|---|
| Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company | ₹21.99 Crores |
| Capital expenditure for the purchase and installation of systems and hardware | ₹7.30 Crores |
| To meet working capital requirements | ₹102.00 Crores |
| General Corporate Purposes | ₹- |
Note: The proposed utilization of IPO proceeds is based on the offer document issued by Xtranet Technologies Limited. The company may allocate the funds in accordance with its stated objectives and applicable regulatory guidelines.
Analysis
Xtranet Technologies - About IPO
Founded in 2002, Xtranet Technologies is one of the leading IT solutions providers offering a wide range of services including enterprise applications, digital transformation, managed services, proprietary platforms, and strategic technology partnerships.
Its product range includes Enterprise Applications: ERP, system integration, cloud, infrastructure, and application services. Managed Services: IT infrastructure management and modernization. Digital Services: IaaS, PaaS, and SaaS solutions.Platforms: Synergy (low-code) and XtraTrust. The firm offers its services using both onsite and offshore delivery models, backed by its subsidiaries, joint ventures, and its own technology platforms. Xtranet runs its business through Fixed-price projects, Time-and-materials contracts, Recurring service agreements, and a significant share from Government and PSU clients.
Analysis
Xtranet Technologies IPO Company Financial Report
Xtranet Technologies Limited has demonstrated consistent financial growth over the last four financial years. The company has reported steady increases in revenue and profitability while maintaining a strong asset base, reflecting the expansion of its operations and improving business performance.
The financial information below provides an overview of the company's revenue, expenses, profit after tax (PAT), and total assets. These figures help investors evaluate the company's financial stability and operational efficiency before considering an investment in the IPO.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹222.78 | ₹215.04 | ₹5.98 | ₹223.99 |
| 2024 | ₹233.26 | ₹217.33 | ₹10.94 | ₹202.94 |
| 2025 | ₹276.53 | ₹237.75 | ₹30.03 | ₹321.79 |
| 2026 | ₹366.01 | ₹314.01 | ₹40.73 | ₹341.97 |
Amount in ₹ Crores: The above financial figures are based on the latest available financial statements of Xtranet Technologies Limited and are intended to provide investors with an overview of the company's financial performance prior to the IPO.
Analysis
Xtranet Technologies IPO Valuation – FY2026
Xtranet Technologies Limited has reported healthy profitability and operational efficiency for FY2026. Key valuation metrics such as Earnings Per Share (EPS), Return on Equity (ROE), Return on Net Worth (RoNW), Net Asset Value (NAV), EBITDA Margin, and Debt-to-Equity Ratio provide investors with valuable insights into the company's financial performance and overall valuation before the IPO.
These valuation indicators can also be used to compare Xtranet Technologies Limited with other listed companies in the IT services and technology solutions sector, helping investors assess the attractiveness of the IPO.
| KPI | Values |
|---|---|
| ROE | 34.78% |
| ROCE | 32.52% |
| EBITDA Margin | 17.30% |
| PAT Margin | 11.15% |
| Debt to Equity Ratio | 0.63 |
| Earning Per Share (EPS) | ₹10.28 (Basic) |
| Price/Earning (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | 29.60% |
| Net Asset Value (NAV) | ₹34.74 |
Note: The above valuation metrics are based on the FY2026 financial statements of Xtranet Technologies Limited. Investors should evaluate these figures along with the IPO pricing, peer comparison, business fundamentals, and future growth prospects before making an investment decision.
Analysis
Xtranet Technologies IPO Peer Group Comparison
Comparing Xtranet Technologies Limited with established companies in the information technology and digital solutions industry helps investors understand its relative valuation, profitability, and financial strength. Key parameters such as Earnings Per Share (EPS), Price-to-Earnings (P/E) Ratio, Return on Net Worth (RoNW), Net Asset Value (NAV), and total income provide valuable insights into how the company stands against its listed peers.
The following comparison highlights the financial metrics of selected technology companies operating in similar business segments.
| Company | EPS | P/E Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Silver Touch Technologies Limited | 2.82 | 63.65 | 21.06% | 13.38 | 341.99 Cr. |
| Dynacons Systems & Solutions Limited | 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. |
Note: The peer comparison is intended for reference purposes only. Investors should consider business model, service offerings, scale of operations, growth prospects, financial performance, and IPO valuation along with these metrics before making an investment decision.
Analysis
IPO Lead Managers aka Merchant Bankers
- Share India Capital Services Pvt. Ltd.
FAQ
Xtranet Technologies IPO FAQs
Xtranet Technologies IPO price band is Rs 120.00 to Rs 127.00. Check the latest issue price, lot size and GMP together before applying.
Xtranet Technologies IPO open date is 23 Jul 2026, close date is 27 Jul 2026, and listing date is 30 Jul 2026.
Xtranet Technologies IPO lot size is 110 shares. The minimum retail investment is Rs 13,970.
Xtranet Technologies is classified as a Mainboard IPO. This helps investors quickly understand the issue category and exchange segment.
Xtranet Technologies IPO subscription status currently shows Retail 2.5x, QIB 0.91x, Overall 1.96x.
Xtranet Technologies Limited is an information technology solutions provider that delivers services across enterprise applications, managed services, digital services, and proprietary platforms. The company engages in system integration, enterprise resource planning implementation, cybersecurity, cloud services, and data center management. It caters to government departments, public sector undertakings, and private sector entities operating across diverse industry verticals. Xtranet Technologies Limited generates revenue through a combination of fixed-price contracts, time-and-materials arrangements, and recurring service agreements, obtaining projects through direct competitive bidding and indirect channels such as subcontractors or consortium partners. In addition to delivering IT services, the company procures hardware, software products, and networking components from external suppliers to execute and fulfill its project commitments.
Xtranet Technologies IPO issue size is 166.80 and the expected allotment date is 28 Jul 2026.