Xtranet Technologies Limited, an India-based IT solutions and services provider, has set the price band for its initial public offering (IPO) at ₹120 to ₹127 per share. The IPO, valued at ₹166.80 crore, consists entirely of a fresh issue of 1.31 crore shares. The subscription window will open on July 23 and close on July 27, according to livemint.com.
The company’s IPO is a book-built issue without any offer-for-sale component. The face value of each share is ₹10. The fresh issue aims to raise capital to support Xtranet Technologies’ growth plans and expand its service offerings. The price band announcement follows regulatory approvals and market preparations ahead of the subscription period starting next week, livemint.com reported.
This IPO adds to the growing list of technology firms seeking public funding in India’s expanding capital markets. Comparable recent IPOs in the IT sector have attracted strong investor interest, reflecting confidence in the sector’s growth potential. The fresh issue structure allows Xtranet Technologies to raise funds without existing shareholders diluting their stakes, a strategy seen in other recent mainboard listings.
The subscription period for the Xtranet Technologies IPO will run from July 23 to July 27, with allotment results expected shortly thereafter. Investors will watch the subscription levels closely to gauge market appetite for mid-sized IT services providers in India’s public markets, as reported by livemint.com.