Xtranet Technologies
Xtranet Technologies is a leading IT solutions provider specializing in enterprise applications, digital transformation, and managed services. The company operates in the technology sector, offering a blend of proprietary platforms and strategic technology partnerships to diverse clients.
Price Band
₹127 - ₹127
Lot Size
110 Shares
Issue Size
₹166.80 Cr
Fresh Issue
₹166.80 Cr
OFS
N/A
Registrar
AI Sentiment Score
Listing Price
₹136.00
vs Issue: ₹127 (+7.09%)
📅 IPO Timeline
1
Open
TBD
2
Close
TBD
✓
Allotment
Jul 28
✓
Refund
Jul 29
✓
Demat
Jul 29
✓
Listing
Jul 30
✨ AI Analysis & Prediction
+5.3%
predicted listing gain
The GMP baseline of 11.02% is adjusted upwards due to exceptionally strong financial quality (ROE 34.78%) and a 100% fresh issue structure, which signals promoter confidence. While the current QIB subscription data is neutral, the strong revenue and PAT CAGR provide a valuation cushion that likely outweighs the medium float size.
💪 Strengths
- Strong growth in PAT from ₹10.94 Cr to ₹40.73 Cr in 3 years
- 100% Fresh Issue indicating promoter commitment
- High ROE (34.78%) and ROCE (32.52%)
⚠️ Weaknesses
- Moderate debt-to-equity ratio of 0.63
- Concentration of revenue in Government and PSU clients
🚀 Opportunities
- Expansion of proprietary platforms Synergy and XtraTrust
- Increased demand for Cloud, IaaS and SaaS solutions
🛡️ Threats
- Intense competition from larger IT service providers
- Potential delays in Government project approvals
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the Company | ₹21.99 |
| Capital expenditure by our Company for purchase and installation of Systems and Hardware; | ₹7.30 |
| To Meet Working Capital Requirements | ₹102.00 |
| General corporate purposes | ₹35.51 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 233.00 Cr | Rs 276.00 Cr | Rs 365.00 Cr |
| Net Profit / PAT (₹ Cr) | Rs 11.00 Cr | Rs 30.00 Cr | Rs 41.00 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 20.00 Cr | Rs 48.00 Cr | Rs 64.00 Cr |
| Borrowings (₹ Cr) | Rs 41.00 Cr | Rs 39.00 Cr | Rs 86.00 Cr |
| Total Assets (₹ Cr) | Rs 203.00 Cr | Rs 322.00 Cr | Rs 342.00 Cr |
| ROCE % | 31.00% | 43.00% | 33.00% |
Debt/Equity
0.63
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in 2002, Xtranet Technologies has evolved over two decades into a comprehensive IT solutions provider. The company has established a strong footprint in the technology sector by transitioning from basic IT services to complex digital transformation and managed services.
Its core business model revolves around a diverse service portfolio, including Enterprise Applications such as ERP, system integration, and cloud infrastructure. The company also leverages its proprietary platforms, specifically 'Synergy' (a low-code platform) and 'XtraTrust', to provide differentiated value to its clients.
The company operates through a hybrid delivery model, utilizing both onsite and offshore capabilities. A significant portion of its revenue is derived from high-stability contracts, including Fixed-price projects, Time-and-materials contracts, and Recurring service agreements.
Xtranet maintains a strategic market position by catering to a prestigious client base, with a substantial share of its business coming from Government and Public Sector Undertaking (PSU) clients, ensuring a steady pipeline of large-scale projects.
The organization is led by its promoters, Sukhbir Singh Kukreja, Jogendrapal Singh Alagh, and Shiney Sukhbir, who have steered the company from its inception in 2002 to its current scale of operations.
Xtranet Technologies is launching a Mainboard IPO to raise approximately ₹166.80 Crores. The issue is structured as a 100% fresh issue of equity shares with a price band of ₹120 to ₹127 per share. The IPO is scheduled to open on July 23, 2026, and close on July 27, 2026, with listing on the BSE and NSE on July 30, 2026. The minimum lot size for retail investors is 110 shares, amounting to ₹13,970.
The proceeds from the fresh issue are earmarked for strategic growth and debt reduction. Specifically, ₹102.00 Crores will be utilized to meet working capital requirements, ₹21.99 Crores will be used for the repayment or prepayment of outstanding borrowings, and ₹7.30 Crores are allocated for capital expenditure to purchase and install systems and hardware.
Financial performance shows an impressive upward trajectory. Revenue grew from ₹233.26 Crores in FY24 to ₹276.53 Crores in FY25, reaching ₹366.01 Crores in FY26. More significantly, the Profit After Tax (PAT) has surged from ₹10.94 Crores in FY24 to ₹30.03 Crores in FY25 and ₹40.73 Crores in FY26, demonstrating strong operating leverage.
From a valuation perspective, the company boasts a high ROE of 34.78% and ROCE of 32.52%. While a direct P/E comparison is not provided in the summary, the growth in EPS to ₹10.28 (Basic) for FY26 suggests a healthy earnings profile. The lack of an Offer for Sale (OFS) component is a positive signal, as it indicates that promoters are not offloading their stakes to exit.
Key investment strengths include a diversified product range (IaaS, PaaS, SaaS) and a strong presence in the PSU sector. However, investors should consider risks such as the inherent volatility of IT project timelines and the dependency on government contracts.
Overall, the IPO presents a balanced proposition with strong fundamental growth and a clean issue structure. Investors may view the high return ratios and increasing PAT margins as a positive indicator for long-term value creation.