Summary
Xtranet Technologies IPO is a bookbuilt issue of ₹19000 lakh that will open from 23 to 27 July 2026.
The company provides IT services that include cloud solutions and enterprise applications.
It may suit investors with a medium to long-term view who understand the business risks.
Xtranet Technologies IPO is a ₹19,000.00 lakh book-built fresh issue.
The issue will be open from 23 July 2026 to 27 July 2026. The shares will be allotted on 28 July 2026 and listed on 30 July 2026 on the NSE and BSE.
The company offers a price band of ₹120–₹127/share for the IPO. The application lot size is 110 shares. Individual or retail investors will require a minimum amount of ₹13,970 as investment, which is calculated for 1 lot based on the upper price band.
The sNII will be required to bid for at least 15 lots or 1,650 shares, which makes them invest a minimum of ₹2,09,550, and 72 lots or 7,920 shares for bNII, which amounts to ₹10,05,840.
Xtranet Technologies IPO–Key Details
The table below highlights the key details of the IPO:
| IPO Open | 23 July 2026 |
| IPO Close | 27 July 2026 |
| Face value | ₹10/share |
| Price Band | ₹120/share–₹127/share |
| Issue price | – |
| IPO Lot Size | 110 shares |
| Offer-for-sale | – |
| Fresh issue | 1,31,34,000 |
| Issue Type | Book-built/Mainboard |
| Listing | BSE and NSE |
| Total Issue Size (₹ Crore) | ₹19,000 lakhs |
| Minimum Investment (Retail) | ₹13,970 |
Xtranet Technologies IPO–Timeline
Get the full timeline of the IPO:
| Bid Open Date | 23 July 2026 |
| Bid Close Date | 27 July 2026 |
| Allotment | 28 July 2026 |
| Refunds Initiated | 29 July 2026 |
| Share Credit Date | 29 July 2026 |
| Listing | 30 July 2026 |
| UPI mandate Cut-off time | 27 July 2026 (05:00 PM) |
Xtranet Technologies Limited–Key Performance Indicators (KPIs)
Check out the important financial metrics of Xtranet Technologies Ltd:
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 31.12 | 33.97 | 32.25 |
| ROCE (%) | 38.01 | 23.64 | 24.72 |
| Debt-Equity Ratio (in times) | 0.41 | 1.02 | 0.69 |
| RoNW (%) | 31.18 | 28.46 | 23.00 |
| PAT Margin (%) | 10.86 | 4.69 | 2.68 |
| EBITDA Margin (%) | 17.26 | 8.23 | 6.04 |
| Price-Book Value | – | – | – |
Xtranet Technologies Limited–Financial Information
| 2025 | 2024 | 2023 | |
| Revenue | 27,608.15 | 23,294.07 | 22,555.91 |
| Assets | 32,179.26 | 20,294.05 | 22,399.06 |
| Profit After Tax | 3,003.47 | 1,094.25 | 598.03 |
(Amount in ₹ lakhs)
Xtranet Technologies IPO–Subscription Status
| Date | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Jul 23 (Day 1) | 0.01 | 0.46 | 0.26 | 0.87 | 1.15 | 0.67 |
Xtranet Technologies IPO–Grey Premium Market (GMP)
The last Xtranet Technologies IPO GMP is ₹25, which was updated on 17 July 2026, 01:56 PM IST.
With ₹127 as the IPO upper price band, the listing price is estimated at ₹152, which includes the upper band and today’s GMP. This keeps the expected percentage gain at 19.69% per share.
| GMP Date | GMP | Est. Listing Price (cap price + GMP) | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 23-07-2026 Open | ₹10 ▼ | ₹137 (7.87%) | ₹1,100 | 23-Jul-2026 14:02 |
| 22-07-2026 | ₹13 ▼ | ₹140 (10.24%) | ₹1,430 | 22-Jul-2026 23:28 |
| 21-07-2026 | ₹18 ▼ | ₹145 (14.17%) | ₹1,980 | 21-Jul-2026 23:32 |
| 20-07-2026 | ₹26 ▲ | ₹153 (20.47%) | ₹2,860 | 20-Jul-2026 23:36 |
| 19-07-2026 | ₹25 ─ | ₹152 (19.69%) | ₹2,750 | 19-Jul-2026 23:30 |
| 18-07-2026 | ₹25 ─ | ₹152 (19.69%) | ₹2,750 | 18-Jul-2026 23:35 |
| 17-07-2026 | ₹25 ─ | ₹152 (19.69%) | ₹2,750 | 17-Jul-2026 23:33 |
Note: GMP is an unofficial indicator and can change based on how the market moves and investor sentiment.
Xtranet Technologies IPO–Reservation
The reservations of the IPO shares are as mentioned under:
Xtranet Technologies IPO–Lot Size
The following is the lot size requirement for different investor groups:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 1 | 110 | ₹13,970 |
| Retail Maximum Application | 14 | 1,540 | ₹1,95,580 |
| S-HNI Minimum Application | 15 | 1,650 | ₹2,09,550 |
| S-HNI Maximum Application | 71 | 7,810 | ₹9,91,870 |
| S-HNI Minimum Application | 72 | 7,920 | ₹10,05,840 |
Xtranet Technologies IPO–Anchor Investors Details
The details of the anchor investor are yet to be disclosed.
Xtranet Technologies IPO–Prospectus
Check out the published offer documents for more details:
About Xtranet Technologies Limited
Incorporation: 29 January 2002
Managing Director: Sukhbir Singh Kukreja
Xtranet Technologies is an IT company that provides many technology services to businesses. It helps companies set up, manage, and improve their IT systems. The company serves customers from different industries through both on-site and remote service models.
Business Offerings:
- Enterprise Applications: ERP services, IT integration, cloud solutions, data centre management, and application support.
- Managed Services: IT infrastructure setup, management, and maintenance.
- Digital Services: Cloud services, including IaaS, PaaS, and SaaS.
- Proprietary Platforms: Synergy low-code platform and XtraTrust platform.
| Name | |
| Book Running Lead Manager (BRLM) | Share India Capital Services Pvt Ltd |
| Registrar | Kfin Technologies Ltd |
Objectives of Xtranet Technologies Limited
Here is how the company plans to utilise the proceeds from the issue:
| Particulars | Amount (in ₹ lakhs) |
| To repay outstanding borrowings | 2,199.15 |
| To fund capital expenditure for the purchase and installation of new systems | 730.14 |
| To fund working capital requirements | 10,200.00 |
| To fund corporate requirements | – |
Xtranet Technologies Limited–Strengths
- Experience across many industries: The company provides IT solutions to government, PSUs, and private businesses across industries such as defence, railways, banking, healthcare, telecom, education, and retail.
- Strong government and PSU project experience: The company completed 183 government and PSU projects during FY23 to FY25. It has strong experience in delivering large IT projects on time.
- Long-term customer relationships: The company served 47 domestic customers in FY25. 27 out of these customers have worked with the company for three years.
- Experienced team: The company’s management and skilled employees help the company provide good services and grow its business.
Xtranet Technologies Limited–Risks
- High dependence on government customers: The company earns a large part of its income from government and PSU customers. They contributed 59.83% of revenue in FY25.
- Dependence on suppliers: The company depends on suppliers for hardware and software products. Any delay or supply problem can affect project delivery and business.
- Dependence on major customers: The company depends heavily on its top 10 customers. Losing any of these customers can reduce its sales and profits.
- Need for bank guarantees: The company must provide bank guarantees for many projects. Any problem in getting these guarantees can affect its cash flow.
Xtranet Technologies IPO–Review
Xtranet Technologies has shown steady business growth with improving profit margins and healthy financial performance. Its strong presence in government projects and long customer relationships support its business.
The IPO also has positive interest in the grey market. However, the company depends heavily on government customers and a few large clients. Investors with a medium to long-term view may consider this IPO after reviewing the risks.
SEBI-registered analyst Naveen Kumar’s detailed IPO review highlights several positives an attractive valuation at 16–17x P/E with a balanced 50-50 revenue split between government and private clients, and consistent 20–40% revenue growth reflecting strong operational execution. He also points out that a portion of IPO proceeds going towards debt reduction should improve the balance sheet post-listing. That said, his review flags a few risks worth weighing, including potential AI disruption to traditional IT service models, cash flow volatility from government contracts, and the company’s heavy geographic concentration in Maharashtra and Madhya Pradesh.
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Xtranet Technologies IPO FAQs
Xtranet Technologies IPO is a ₹19,000 lakh bookbuilt mainboard IPO consisting of a fresh issue of shares. The company plans to use the money raised to repay borrowings, buy new systems, and meet working capital needs.
You can apply through your bank account using ASBA or through a registered stockbroker that supports UPI-based IPO applications. Submit your application before the IPO closing date and approve the UPI mandate.
The company has reported business growth, better profits, and healthy financial ratios. However, it depends heavily on government customers and a few major clients. Investors should compare both the strengths and risks before applying.
Based on the latest grey market premium, the IPO is showing positive listing expectations. However, GMP is unofficial and changes every day. The actual listing performance will depend on market conditions and investor demand.
The Xtranet Technologies IPO will open for subscription on 23 July 2026. Investors can submit their applications until 27 July 2026 during the bidding period.
The minimum application size for retail investors is 1 lot of 110 shares. At the upper price band, the minimum investment required is ₹13,970.
The allotment for the Xtranet Technologies IPO is expected to be finalised on 28 July 2026. Successful applicants will receive shares before the listing date.
Xtranet Technologies shares are expected to be listed on the NSE and BSE on 30 July 2026, subject to the successful completion of the IPO process.
