Xtranet Technologies IPO Subscription Day 3: Issue Booked 7 Times So Far, GMP Slips

The initial public offering (IPO) of Xtranet Technologies was subscribed 7.37 times by 2:20 PM on July 27, the third and final day of bidding, supported by strong demand from retail and non-institutional investors (NIIs). The retail investors’ portion was subscribed 6.86 times, while the NII category received bids for 17 times the shares on offer.

Within the NII segment, the small high networth investor (HNI) portion was subscribed 18.09 times and the big HNI category was booked 16.44 times. On the other hand, the qualified institutional buyers (QIB) quota was subscribed 1.03 times, excluding the anchor investor portion. The company has reserved 50 per cent of the issue for QIBs, 15 per cent for NIIs, and 35 per cent for retail investors.

Xtranet Technologies IPO GMP Today

The grey market premium (GMP) for Xtranet Technologies IPO stood at Rs 7 on July 27, down from Rs 9 a day earlier. Based on the upper price band of Rs 127, the shares are estimated to list around Rs 134, implying a listing premium of about 5.50 per cent.

However, investors should note that GMP is an unofficial market indicator and should not be considered a reliable predictor of listing performance.

Xtranet Technologies IPO Details

The Rs 166.80 crore IPO comprises an entirely fresh issue of 13.13 million equity shares and is open for subscription from July 23-27, 2026. The company has fixed the price band at Rs 120-127 per share.

Retail investors can apply for a minimum of one lot comprising 110 shares by investing Rs 13,970 at the upper end of the price band.

The company plans to use the IPO proceeds mainly to meet working capital requirements, repay certain borrowings, fund capital expenditure for systems and hardware, and for general corporate purpose.

The basis of allotment is expected to be finalised on July 28. Successful bidders are likely to receive shares in their demat accounts on July 29, while refunds to unsuccessful applicants are also expected to be initiated the same day. The shares are tentatively scheduled to list on both the BSE and the NSE on July 30.

Share India Capital Services is the book-running lead manager to the issue, while Kfin Technologies is the registrar.

Xtranet Technologies IPO Anchor Investors

Ahead of the IPO, Xtranet Technologies raised Rs 50.04 crore from anchor investors by allotting 3.94 million shares at Rs 127 apiece.

Viney Growth Fund and Saint Capital Fund emerged as the largest anchor investors, each investing Rs 8.01 crore and accounting for 16.01 per cent of the anchor book. They were followed by Innovative Vision Fund, which invested Rs 7 crore, and Longthrive Capital VCC – Trendview Capital Fund, which invested Rs 6.99 crore. Tiger Strategies Fund-I and Venus Investments VCC – Venus Stellar Fund invested Rs 5 crore each, representing 10 per cent of the anchor allocation apiece.

Among domestic institutional investors, Taurus Mutual Fund invested a total of Rs 5 crore, accounting for 10 per cent of the anchor book through the Taurus Flexi Cap Fund, Taurus Mid Cap Fund, and Taurus ELSS Tax Saver Fund.

About Xtranet Technologies

Incorporated in 2002, Xtranet Technologies is an integrated IT solutions provider offering enterprise applications, managed services, digital transformation solutions, and proprietary technology platforms. Its client base includes enterprises, government departments and public sector undertakings.

For the financial year ended March 31, 2026, the company reported revenue of Rs 366.01 crore, up from Rs 276.53 crore a year ago. Its profit after tax (PAT) increased from Rs 30.03 crore to Rs 40.73 crore during the same period.