XED To Launch GIFT City's First IPO Of $12 Million; Public Issue To Open On March 6

Executive learning solutions provider XED Executive Development on Friday said it has fixed a price band of USD 10-10.5 per share for the USD 12 million IPO, which will open for subscription at GIFT City on March 6. This will be the first share sale at Gujarat International Finance Tec-City, India's IFSC, under the regulatory framework of the International Financial Services Centres Authority (IFSCA). The initial public offering (IPO) will open on March 6 and conclude on March 18. The public issue is open to eligible investors under the IFSCA framework, including Non-Resident Indians (NRIs), foreign portfolio investors, institutional investors, and other permitted overseas participants. "We are raising capital to accelerate global program expansion, deepen university partnerships, and invest in delivery capabilities across key markets," John Kallelil, Founder and Managing Director, XED, said. V Balasubramaniam, MD & CEO, NSE International Exchange (NSE IX), said "The IPO marks a significant milestone for the IFSC ecosystem. We expect this transaction to set a strong precedent for globally oriented companies evaluating GIFT City as an offshore capital-raising platform." He added that "We are in discussions with several international issuers and are witnessing growing interest in accessing global capital through this framework." XED Executive Development is a leading provider of executive education, serving senior professionals across more than 25 countries, with operations spanning India, the Middle East, Southeast Asia and North America. The equity shares will be listed on NSE International Exchange (NSE IX) and India International Exchange (India INX) at GIFT City, India's International Financial Services Centre, and will be traded in a dollar-denominated instrument. Global Horizon Capital Advisors (IFSC) is the sole book running lead manager, while DBS Bank and RBL Bank are the bankers, and KFin Technologies is the registrar of the issue (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)