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

Closed

Issue Size

166.8 Cr

Fresh Issue

166.8 Cr

Offer for Sale

0 Cr

Price Band

₹120 - ₹127

Lot Size

110

IPO Price

₹127.00

Listing Price

₹130.10

Listing Gains

+2.44%

Est. Listing Gains

+11.02%

GMP Trend

Listed 8.58% below GMP estimate

IPO Timeline

Jul 23, 2026

Open Date

Jul 27, 2026

Close Date

Jul 28, 2026

Allotment Date

Jul 29, 2026

Initiation of Refunds

Jul 30, 2026

Listing Date

Financials

Revenue

Profit After Tax (PAT)

Use of IPO funds

Total IPO size₹166.8 Cr

Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company₹20.2 Cr

Capital expenditure by our Company for purchase and installation of systems and hardware₹8.48 Cr

To meet working capital requirements₹102 Cr

General corporate purposes—

Key Performance Indicator

P/E Ratio

12.21

EPS

10.4

ROE

34.78%

ROCE

32.52%

RONW

29.6%

Debt to Equity Ratio

0.63

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.
•
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.

Subscription Rate

Category	Shares Bid For	Shares Offered	Times Subscribed
Qualified Institutional Buyers	23.82 L	26.27 L	0.91x
Non-Institutional Investors	41.74 L	19.70 L	2.12x
Retail Individual Investors	1.15 Cr	45.97 L	2.50x
Total	1.81 Cr	91.94 L	1.96x

Application Details

Category	Price Band	Application Range	Lot Size
Regular	—	Upto ₹2 Lakhs	—
High Networth Individual	—	₹2 - ₹5 Lakhs	—

Frequently Asked Questions

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],[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.