Xtranet Technologies Ltd.
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Overview
Xtranet Technologies Limited is an integrated IT solutions provider offering end-to-end enterprise applications, managed services, digital services and proprietary platforms for government/PSU and private-sector clients across multiple industries. Its work spans ERP implementation (including its own X-ERP), IT system integration, data centre and command centre build-and-manage engagements (including NOC/SOC), application development and maintenance, cloud and analytics services, and secure digital-trust offerings through PKI-based digital signatures and e-sign.
Opening Date
Jul 23, 2026
Closing Date
Jul 27, 2026
Listing Date
Jul 30, 2026
IPO Type
Mainboard
IPO Status
Open
Issue Size
166.8 Cr
Fresh Issue
166.8 Cr
Offer for Sale
0 Cr
Price Band
₹120 - ₹127
Lot Size
110
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
12.21
EPS
10.4
ROE
34.78%
ROCE
32.52%
RONW
29.6%
Debt to Equity Ratio
—
PAT Margin
11.15%
EBITDA Margin
17.3%
P/B
3.66
Bull vs Bear
Bull case
- •
Government bid engine with 214 bids and 43% bid-to-win in Fiscal 2026; hard to replicate tender discipline and deal-flow.
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Execution scale with ₹22,904.43 lakhs total value of orders completed in Fiscal 2026, enabling repeatable delivery playbooks across projects.
- •
Industry tailwind: Indian government's IT & digital initiatives spending expected CAGR 16.1% between FY21–FY26E, reaching USD 122.12 crore in FY25.
Bear case
- •
Revenue depends on Government/PSU orders; more than 47.06%, 59.46% and 46.32% of revenue in Fiscal 2026/2025/2024 came from Government/PSU clients.
- •
Revenue concentrated in few offerings; enterprise applications 33.22% and managed services 40.53% in Fiscal 2026, so disruption in either can hit operations.
- •
Supplier concentration risk: top 10 suppliers were 95.24% of purchases in Fiscal 2026; purchase-orders without long-term contracts can impact timelines and pricing.
Net takeaway
At its core this is a bet on sustaining profitability while scaling: PAT margin improved to 11.15% in Fiscal 2026 from 4.70% in Fiscal 2024. If you believe bid-driven execution stays healthy (43% bid-to-win in Fiscal 2026), the upside holds; if tender/client concentration persists, the risk holds. Keep watching cash conversion: trade receivables were ₹11,443.66 lakhs (31.33% of revenue) in Fiscal 2026 with 150–210 day credit cycle.
Subscription Rate
Application Details
Frequently Asked Questions about Xtranet Technologies Ltd.
Xtranet Technologies Limited is an integrated IT solutions provider offering end-to-end enterprise applications, managed services, digital services and proprietary platforms for government/PSU and private-sector clients across multiple industries. Its work spans ERP implementation (including its own X-ERP), IT system integration, data centre and command centre build-and-manage engagements (including NOC/SOC), application development and maintenance, cloud and analytics services, and secure digital-trust offerings through PKI-based digital signatures and e-sign.
The Xtranet Technologies Ltd. IPO is scheduled to open for subscription on Jul 23, 2026 and close on Jul 27, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Xtranet Technologies Ltd. IPO is ₹120 to ₹127. Investors can place bids within this range once the issue opens.
The minimum lot size for the Xtranet Technologies Ltd. IPO is 110 shares. The minimum investment amount ₹13,970.
The total issue size of the Xtranet Technologies Ltd. IPO is approximately ₹166.80. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Xtranet Technologies Ltd. IPO has been subscribed 1.96 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Xtranet Technologies Ltd. IPO is ₹[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Xtranet Technologies Ltd. are expected to list on stock exchanges on Jul 30, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Xtranet Technologies Ltd. IPO are proposed to be used for Our Company intends to utilize the gross proceeds raised through the Fresh Issue ('Gross Proceeds'), after deducting the Issue related expenses ('Net Proceeds'), for the following objects:, Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company, Capital expenditure by our Company for purchase of systems and hardware, To meet working capital requirements, General corporate purposes.
Before applying for the Xtranet Technologies Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
