Xtranet Technologies Limited
Minimum investment
Bidding date
23 Jul - 27 Jul 2026
Price range
₹120 - ₹127
Minimum quantity
110
Minimum investment
₹13,200
Issue size
₹167 Cr.
IPO doc (link)
RHP docs
Listing exchange
NSE/BSE
Total Issue Size:
₹167 Crore
Fresh Issue: 100% (₹167 Cr)
OFS: 0% (₹0 Cr)
Fresh Issue – ₹167 Crore
Offer for Sale – ₹0 Crore
Before Issue: 83.63%
After Issue: 62.63%
Lock-in / Stabilization | Timeline |
|---|---|
Minimum Promoters' Contribution (20% of post-issue share capital) | 18 Months from the date of allotment |
Promoters' Shareholding in excess of 20% | 6 Months from the date of allotment |
Anchor Investors (50% of allotted shares) | 90 Days from the date of allotment |
Remaining 50% of Anchor Investors' allotted shares | 30 Days from the date of allotment |
Note: Retail IPO investors have no lock-in and can sell shares from the listing day.
Xtranet Technologies Limited, incorporated in 2002, is an integrated IT solutions provider offering end-to-end technology services to enterprises, government organizations, and public sector undertakings (PSUs). The company provides a comprehensive portfolio of services including enterprise applications, managed IT services, digital transformation, cloud solutions, infrastructure management, and proprietary technology platforms.
Its key offerings include ERP implementation, system integration, network and cybersecurity solutions, cloud integration, data center management, application development, Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), along with its proprietary platforms such as Synergy and XtraTrust. Xtranet Technologies serves clients through both onsite and offshore delivery models and generates revenue from fixed-price projects, time-and-material contracts, and recurring managed service agreements. A significant portion of its business comes from long-term Government and PSU clients. As of April 30, 2026, the company had 504 permanent employees supporting its operations across multiple locations.
Strong Presence in Government & PSU Projects: Xtranet Technologies has built long-term relationships with government departments and public sector enterprises, providing stable business opportunities and repeat orders.
Diversified IT Service Portfolio: The company offers enterprise applications, cloud services, cybersecurity, infrastructure management, digital transformation, and proprietary software platforms, reducing dependence on a single business segment.
Healthy Financial Growth: The company reported a 32% increase in revenue and a 36% rise in PAT in FY2026, reflecting improving operational performance.
Robust Order Book: As of April 30, 2026, Xtranet Technologies had an order book of approximately Rs. 356.96 crore, providing good revenue visibility for future periods.
Experienced Management Team: The company is led by an experienced management team with expertise in executing large-scale enterprise and government technology projects.
Highly Competitive Industry: The Indian IT services market is highly competitive and fragmented, with competition from large established IT companies as well as regional players, which may impact margins and business growth.
Dependence on Government Contracts: A significant portion of revenue is generated from Government and PSU clients. Any slowdown in public sector spending, project delays, or policy changes could affect revenue.
Rising Borrowings: Total borrowings increased to Rs. 85.45 crore in FY2026 from Rs. 39.24 crore in FY2025, indicating higher leverage despite healthy business growth.
Working Capital Intensive Business: A substantial portion of the IPO proceeds is earmarked for working capital, indicating that the business requires significant funding to support operations and project execution.
Valuation Considerations: Based on post-issue earnings, the IPO is valued at around 16.3x P/E, and some market analysts consider the issue fairly to fully priced, which may limit short-term listing upside.
366.01 Cr.
Mar'26
40.73 Cr.
Mar'26
63.18 Cr.
Mar'26
57 investors voted
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