Xtranet Technologies IPO Day 3: GMP Steady at 7% as Subscription Status and Key Details Unveiled!

The initial public offering (IPO) of Xtranet Technologies is showing robust investor interest as it approaches its final day of bidding on July 27. The IPO is offered at a price band of Rs 120-127 per share, with a total issue size of 1.31 crore equity shares, aiming to raise Rs 166.8 crore. Notably, there is no offer for sale (OFS), meaning all proceeds will be directed towards supporting the company’s business growth. According to recent updates, the IPO was subscribed 1.96 times by the second day, with Retail Individual Investors (RIIs) demonstrating a strong appetite, subscribing 2.50 times in their respective category.

The grey market sentiment for Xtranet Technologies is currently positive, with a grey market premium (GMP) of around 7%, translating to an estimated listing price of Rs 136 per share, should the positive trend continue. The participation across investor segments indicates confidence in the IPO; while the Qualified Institutional Buyers (QIB) category saw subscriptions of about 91%, Non-Institutional Investors (NIIs) subscribed 2.12 times the shares on offer. This varied interest highlights the overall positive outlook from investors leading up to the listing, set for July 30 on both the BSE and NSE.

For Indian investors, Xtranet Technologies’ IPO presents an attractive opportunity given the current subscription rates and positive sentiment in the grey market. The company, established in 2002, has demonstrated significant growth in its financial performance, with total income rising 32% year-on-year to Rs 366.01 crore, indicating a strong business model focused on digital transformation and IT solutions. Retail investors looking to participate must place bids for a minimum of 110 shares, with an upper investment of approximately Rs 1.96 lakh for 14 lots. With healthy business fundamentals and robust investor interest, Xtranet Technologies appears to be a compelling prospect for those looking to tap into the expanding Indian tech sector.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)