Xtranet Technologies launched its initial public offering (IPO) on July 23, aiming to raise ₹167 crore by issuing 1.31 crore fresh equity shares priced between ₹120 and ₹127 each. The subscription window will remain open until July 27, with no offer-for-sale component included in the issue, according to livemint.com.
The IPO process involves investors bidding within the fixed price band, with the basis of allotment scheduled to be finalized on July 28. Successful applicants are expected to receive their share allocations shortly thereafter, and the shares are set to debut on the stock exchange on July 30. The grey market premium indicates positive investor sentiment towards the offering, as reported by livemint.com.
This fundraising move by Xtranet Technologies comes amid a steady flow of technology sector IPOs in India, reflecting growing investor interest in tech-driven companies. The ₹167 crore fresh issue will provide capital to support the company’s growth plans, positioning it alongside other recent tech listings that have attracted market attention, per livemint.com.
The IPO subscription period will close on July 27, with the allotment basis to be finalized on July 28. The shares are scheduled to begin trading publicly on July 30, marking a key milestone for Xtranet Technologies’ entry into the public markets, according to livemint.com.