GIFT City sees first IPO as XED invites bids for its maiden offering

The public issue is being offered at a price band of $10-$10.5 per share, in a fully dollar-denominated offering, and is accessible to eligible global investors

India's First GIFT City IPO Opens Today: The public issue is being offered at a price band of $10-$10.5 per share

SI Reporter New Delhi

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XED Executive Development IPO: XED Executive Development has become the first company from GIFT City to open its initial public offering (IPO), launching its issue for public subscription on Monday, March 16, 2026. The subscription window to bid for the XED Executive Development will remain open until March 24, 2026.

“This is the moment we have been working toward. Today, with the IPO formally open, we invite eligible investors from across the world to be part of a truly historic offering. Despite the brief pause we took to navigate geopolitical headwinds, our confidence in this offering has never been stronger. GIFT City is ready, the platform is live, and the subscription window is now open,” said John Kallelil, founder and managing director, XED.

The public issue is being offered at a price band of $10–$10.5 per share, in a fully dollar-denominated offering, and is accessible to eligible global investors. Upon closure, the shares will be listed on NSE International Exchange (NSE IX) and India International Exchange (India INX), both based at GIFT City.

Commenting on the development, V Balasubramaniam, managing director & CEO, NSE IX, said, “Today marks a great beginning for GIFT City, and indeed for Indian capital markets. With XED’s IPO now open for subscription, we are witnessing the realisation of what GIFT City has always aspired to be—a world-class, internationally accessible financial hub. NSE International Exchange is honoured to be a part of this milestone, and we look forward to welcoming global investors as they participate in India’s first GIFT City IPO.”

Vijay Krishnamurthy, MD & CEO, India INX (a BSE Company), said the opening of XED Executive Development IPO signals that India’s IFSC has firmly arrived on the global capital markets map. “India INX has always championed GIFT City as a credible cross-border fundraising platform, and XED’s IPO, now live, is the most compelling proof of that. We encourage eligible investors worldwide to seize this opportunity and be part of a genuinely historic listing,” he added.

Here's how to subscribe XED Executive Development IPO

XED Executive Development IPO is open to eligible investors under the IFSCA framework, including Non-Resident Indians (NRIs), foreign portfolio investors, institutional investors, and other permitted overseas participants. All transactions are denominated in US dollars. Investors can approach their brokers or intermediaries registered with GIFT City–IFSC to participate in the issue before the subscription window closes on March 24, 2026.

Global Horizon Capital Advisors (IFSC) is the sole Book Running Lead Manager for the IPO. DBS Bank and RBL Bank are the bankers to the issue, while KFin Technologies is the registrar for the public issue.

About XED Executive Development

Established in 2018, XED Executive Development is a global executive education platform focused on leadership and management training for senior professionals. The company works with senior leaders from major global organisations, including professionals associated with Fortune 500 companies. XED’s operations span key global markets including India, the Middle East, Southeast Asia, and North America. Its programs are designed for executives across different industries and geographies.

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First Published: Mar 16 2026 | 12:35 PM IST