About Xtranet Technologies IPO
XtraNet Technologies IPO Overview
XtraNet Technologies IPO is a book-built issue of 1.31 crore equity shares, entirely a fresh issue of shares worth up to ₹167 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on September 25, 2025.
The price band of the issue is set between ₹120 and ₹127 per share and the lot size for an application is 110 shares. The minimum amount of investment required by an individual investor is ₹13,970 (110 shares). The IPO will be open for subscription from July 23 to 27, 2026, on the BSE and the NSE platforms, with a tentative listing date fixed as July 30, 2026. The book-running lead manager of the issue is Share India Capital Services Private Limited, while the registrar to the offer is Kfin Technologies Limited.
XtraNet Technologies IPO Date & Timeline
The XtraNet Technologies IPO is officially set to open for subscription on Jul 23, 2026 and will close on Jul 27, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on September 25, 2025 and has now finalised its schedule following SEBI approval. Once the subscription window closes, an allotment is expected on Jul 28, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Jul 29, 2026. Finally, shares of XtraNet Technologies Ltd. are tentatively scheduled to list on the stock exchanges on Jul 30, 2026.
Xtranet Technologies IPO Timeline
| IPO Open Date | Thu, Jul 23, 2026 |
| IPO Close Date | Mon, Jul 27, 2026 |
| Tentative Allotment | Tue, Jul 28, 2026 |
| Initiation of Refunds | Wed, Jul 29, 2026 |
| Credit of Shares to Demat | Wed, Jul 29, 2026 |
| Tentative Listing Date | Thu, Jul 30, 2026 |
| Cut-off time for UPI mandate confirmation | - |
Xtranet Technologies IPO Details
| Detail | Description |
|---|---|
| IPO Date | 23 to 27 Jul, 2026 |
| Listing Date | 30 Jul, 2026 |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | ₹ 120 to ₹ 127 |
| Lot Size | 110 Shares |
| Sale Type | Fresh capital only |
| Total Issue Size | 1,31,34,000 shares (agg. up to ₹ 167 Cr) |
| Fresh Issue(Ex Market Maker) | 1,31,34,000 shares (agg. up to ₹ 167 Cr) |
| Issue Type | 100 % Book Built Issue |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 3,91,51,700 shares |
| Share Holding Post Issue | 5,22,85,700 shares |
XtraNet Technologies GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The XtraNet Technologies IPO GMP is currently trading at ₹25, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹152, which is 19.69% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹127 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹25, and a lot size of 110 shares.
Xtranet Technologies GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 18 Jul 2026 | ₹127 | ₹25 | 18 Jul, 202610:47 AM |
| 17 Jul, 2026 | ₹127 | ₹0 | 17 Jul, 202610:11 AM |
Company Background
XtraNet Technologies Ltd. was formed in 2002 as a private limited company and later in 2025, it converted to a public limited company for the preparation of a public listing. With more than 2 decades (20+ years) of experience in the information technology field, the company has grown from a small-scale IT solution provider to a full-fledged digital transformation solutions provider.
The company operates in Bhopal, Madhya Pradesh and has expanded its reach to cater to both government and corporate clients in India. Its services are delivered via a mix of offline and online models, which is supported by its subsidiaries, joint ventures and its in-house platforms.
Operations & Product Range
XtraNet Technologies Ltd. provides various information technology services such as application development, software upgradation and infrastructure management. The company is also involved in e-governance projects, where they help various government departments automate their processes. The major services provided by the company include ERP implementation, custom software development and managed IT services, catering to various types of clients such as state governments and private organisations.
Facilities & Capacity
XtraNet Technologies Ltd.’s core functions are regulated from its headquarters in Bhopal, which acts as its main hub for software development and administrative purposes. The company also has operational offices based on its ongoing projects. In the DRHP, the company stated the use of the proceeds for a new delivery centre to enhance its operational capacity and create a dedicated area for high-end technology projects and client support services.
Brands & Market Presence
XtraNet Technologies Ltd. conducts its business through its brand name, "XtraNet." Although it has a strong presence in central and northern India, it has also undertaken projects that require specific technical certifications. The company has multiple ISO certifications, which is a common practice for IT service companies to ensure that quality management and information security processes are in place for high-security government contracts.
Revenue Streams & Business Model
The major source of revenue for XtraNet Technologies Ltd. is derived from service charges related to software development and maintenance contracts. The business model of XtraNet Technologies Ltd. is based on both project revenues and annual maintenance contract revenues. Although the company is highly focused on domestic projects in India, it is also attempting to diversify its customer base.
Financial Performance
Xtranet Technologies Ltd. shows growing financial performance and strong growth leading up to FY25. The company reported a 19% year-on-year increase in consolidated revenue, reaching ₹276.53 crore in FY25 compared to ₹233.26 crore in FY24. Operational efficiency significantly improved, with the firm’s EBITDA surging to ₹47.65 crore from ₹19.18 crore. This operational momentum translated into phenomenal bottom-line profitability, as its Profit After Tax (PAT) expanded by 174% year-on-year to ₹30.03 crore, showcasing remarkably strong financial performance indicators across its operations.
Management & Shareholding
XtraNet Technologies Ltd. is managed by its promoters, Sukhbir Singh Kukreja, Jogendrapal Singh Alagh and Shiney Sukhbir. Meanwhile, the promoters of the company have been playing a very important role in the development since its beginnings. Before the IPO, the promoters held a 77.45% stake and the promoter group held a 6.18% stake in the company. Even after the IPO, the promoters will not dilute any shareholding since this is a completely fresh issue.
Board & Key Management
The management of XtraNet Technologies Ltd. is led by Managing Director Sukhbir Singh Kukreja, Whole-Time Director Jogendrapal Singh Alagh and Non-Executive Director Shiney Sukhbir. The financial and secretarial business activities are conducted by CFO Chetan Anand and CS Kavita Malik. To maintain a strict level of compliance and transparency, the board of directors comprises independent directors who play a crucial role in corporate governance.
Xtranet Technologies IPO Financial Information
Latest Revenue
365.29
₹ Crore
Profit After Tax
40.73
₹ Crore
Net Worth
136.01
₹ Crore
Total Borrowing
85.45
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2026 | 341.97 | 365.29 | 40.73 | 136.01 | 96.40 | 85.45 | |||
| 31 Mar 2025 | 321.79 | 276.08 | 30.03 | 95.49 | 87.54 | 39.24 | |||
| 31 Mar 2024 | 202.94 | 232.94 | 10.94 | 38.78 | 32.02 | 41.19 | |||
| 31 Mar 2023 | 223.99 | 222.78 | 5.98 | 26.20 | 19.35 | 7.37 | |||
| Amount in ₹ Crore | |||||||||
Xtranet Technologies Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 34.78 % |
| ROCE | 32.52 % |
| Debt/Equity | 0.63 |
| RoNW | 29.60 % |
| PAT Margin | 11.15 % |
| EBITDA Margin | 17.30 % |
| Price to Book Value | 3.66 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.40 | 7.79 |
| P/E (x) | 12.21 | 16.3 |
IPO Objectives
XtraNet Technologies Ltd. plans to use the IPO proceeds for the following purposes:
- • Capital expenditure for setting up a new delivery centre to enhance service offerings.
- • Investment in upgrading infrastructure and software development tools.
- • Funding long-term working capital requirements to support future projects.
- • General corporate purposes
XtraNet Technologies IPO Review
Xtranet Technologies Ltd. is an established IT and IT-enabled services (ITES) provider specialising in digital transformation, system integration and customised software development. The company provides services via a mix of online and offline models, which are supported by its subsidiaries and in-house platforms.
Financially, the company has reported growing and profitable financial statements; as of FY25, revenue surged by 19% year-on-year to ₹276.53 crore, up from ₹233.26 crore in FY24. Operational efficiency also scaled remarkably, with EBITDA climbing to ₹47.65 crore from ₹19.18 crore. This strong execution trickled down to the bottom line, driving Profit After Tax (PAT) up by 174% year-on-year to ₹30.03 crore.
However, investors must be aware of the potential risks of the company, including intense competition within the ITES sector and rapid technological obsolescence. The company's heavy reliance on qualified technical talent and potential working capital fluctuations also warrant close monitoring. Overall, the strong financial indicators make this a compelling IPO for investors seeking growth in digital infrastructure.
Conclusion
XtraNet Technologies IPO provides an opportunity to invest in a company that has maintained a proven track record in the Indian IT and e-governance space, with a focus on digital transformation and a clean balance sheet. With the Indian government’s continued thrust on "Digital India" and e-governance, the company’s focus on this niche continues, with this issue to be an integral part of its execution plan.
Frequently Asked Questions
Recommended Advisory Services
Ready to take your company public? Explore our specialized IPO advisory services tailored for Indian enterprises.
The India IPO Publication is managed by an editorial team that includes highly experienced finance journalists, market researchers and professionals from the capital markets industry who strive to create high-quality content based on credible sources. Our editors write about IPOs, capital markets, corporate news, capital-raising strategies, regulations and other business matters to ensure our audience stays updated with the latest information. We conduct detailed research and fact-check all information before publishing any content to ensure credibility.
Competitive Strengths
Proven track record of 2 decades of handling complex digital projects for different government departments.
Service-oriented business structure that allows the company to handle multiple large-scale IT projects at the same time.
Experienced management team with over 2 decades of experience in the IT services and software development sector.
End-to-end solution providers, right from software design to infrastructure management.
Download regulatory filings
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 110 | 13970 |
| Individual investors (Retail) (Max) | 14 | 1540 | 195580 |
| S-HNI (Min) | 15 | 1650 | 209550 |
| S-HNI (Max) | 71 | 7810 | 991870 |
| B-HNI (Min) | 72 | 7920 | 1005840 |