Xtranet Technologies IPO Day 3: GMP holds at 7%; Check subscription status and other key details

The initial public offering (IPO) of Xtranet Technologies entered its final day of bidding on July 27, drawing healthy investor interest. The grey market premium (GMP) stood at around 7% over the upper price band of Rs 127, signalling expectations of a positive stock market debut if the current sentiment continues.

By the end of the second day of bidding, the IPO was subscribed 1.96 times against the 91.93 lakh shares on offer. The Retail Individual Investors (RIIs) category witnessed robust demand, with subscriptions reaching 2.50 times.

The public issue is entirely a fresh issue of 1.31 crore equity shares, with the company aiming to raise Rs 166.8 crore. There is no offer for sale (OFS), meaning the entire proceeds from the IPO will be utilised to meet the company's business and growth requirements.


Xtranet Technologies has set the IPO price band at Rs 120-127 per share. The shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of July 30.

According to the IPO schedule, the basis of allotment is likely to be finalised on July 28, while refunds for unsuccessful applicants and the credit of shares to successful investors are expected on July 29.

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For retail investors, the minimum application size is 110 shares, requiring an investment of Rs 13,970 at the upper end of the price band. Investors can bid for up to 14 lots (1,540 shares), taking the maximum investment to approximately Rs 1.96 lakh.

Share India Capital Services is the book-running lead manager for the issue, while KFin Technologies has been appointed as the registrar.

Xtranet Technologies IPO GMP ipdate

The latest grey market premium (GMP) for the Xtranet Technologies IPO stands at 7%, or around Rs 9 per share, over the upper price band of Rs 127. Based on the current GMP trend, the estimated listing price of Xtranet Technologies shares is projected at approximately Rs 136.

Xtranet Technologies IPO subscription status

The IPO witnessed strong investor participation on the second day of bidding, with the issue subscribed 1.96 times against the 91.93 lakh shares available.

Retail Individual Investors (RIIs): The retail category was subscribed 2.50 times against the 45.96 lakh shares reserved.

Non-Institutional Investors (NIIs): The NII segment received bids for 2.12 times the shares on offer, with 19.70 lakh shares available.

Qualified Institutional Buyers (QIBs): The institutional category was subscribed 91% against the 26.26 lakh shares reserved.

About Xtranet Technologies

Established in 2002, Xtranet Technologies is an integrated IT solutions provider offering a wide range of enterprise technology services focused on digital transformation, cloud computing, managed services, cybersecurity and IT infrastructure solutions.

The company provides services including ERP implementation, system integration, network and security solutions, cloud integration, virtualisation, data centre management, application development and infrastructure management.

Xtranet Technologies also delivers cloud-based solutions through Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) models.

The company’s proprietary product portfolio includes Synergy, a low-code digital transformation platform, and XtraTrust.

Xtranet generates revenue through multiple business models, including fixed-price contracts, time-and-material engagements, and recurring service agreements. A significant share of its business comes from government departments and public sector undertakings (PSUs).

As of April 30, 2026, the company had 504 permanent employees.

Financial performance

Xtranet Technologies reported healthy growth in FY26, driven by higher revenue and improved profitability.

Total income rose 32% year-on-year to Rs 366.01 crore from Rs 276.53 crore in FY25. Profit after tax (PAT) increased 36% to Rs 40.73 crore, while EBITDA climbed to Rs 63.18 crore from Rs 47.20 crore a year earlier.

At the upper end of the price band, the company is valued at a pre-IPO market capitalisation of Rs 664.03 crore.

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How will the IPO proceeds be used?

Xtranet Technologies plans to deploy the IPO proceeds across multiple business priorities:

The company plans to utilize Rs 102 crore from the proceeds to meet its working capital requirements. An additional Rs 21.99 crore has been earmarked for the repayment or prepayment of existing borrowings, while Rs 7.30 crore will be invested in capital expenditure towards upgrading systems and hardware. The remaining funds will be allocated for general corporate purposes.

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