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HomeIPOXtranet Technologies

About Xtranet Technologies

Xtranet Technologies, incorporated in 2002, is a company that provides integrated IT solutions including enterprise application services, digital transformation, managed services, proprietary platforms, technology partnerships, among others. The company caters to customers in multiple sectors.The business services are provided both onsite and offshore, involving subsidiaries, joint ventures, and in-house platforms. Business Offerings: Enterprise Applications: Enterprise Resource Planning (ERP) services and application services; IT System Integration Services including network and security solution, virtualization and cloud integration, infrastructure management services, among others; Data Centers, application development and maintenance, among others. Managed Services: Providing infrastructure management services, including IT infrastructure design, implementation and upgrade services. Digital Services: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS) Proprietary platforms: Synergy low code digital transformation and XtraTrust platform. The sources of revenue include fixed price projects, time and material projects, and managed service agreements. Significant amounts come from government and public sector undertakings clients. As of March 31, 2025, the firm had 242 permanent employees.

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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
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Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
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National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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Xtranet Technologies

Xtranet Technologies

Open Date

Jul 23, 2026

Close Date

Jul 27, 2026

listed

Min Investment

₹13,970

Lot Size

110 Shares

Issue Size

₹166.8 Cr

Price Range

₹120 - ₹120

Listing Date

Jul 30, 2026

IPO Doc

RHP PDF

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹14(+11.42%)GMP
11.02%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Xtranet Technologies IPO - Issue Objectives

The company will use ₹8.48 crore for purchase and installation of systems and hardware. The company will use ₹20.19 crore for repayment of borrowings. The company will use ₹102.00 in crore for working capital requirements of the business. Part of the IPO proceeds will be used for general corporate purposes and issue expenses

Capital expenditures

4.9%

Repayment of debts

11.8%

Working capital

60.1%

General corporate purposes

23.1%

1

Capital expenditures

The company will use ₹8.48 crore for purchase and installation of systems and hardware.

4.90%
2

Repayment of debts

The company will use ₹20.19 crore for repayment of borrowings.

11.80%
3

Working capital

The company will use ₹102.00 in crore for working capital requirements of the business.

60.10%
4

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses

23.10%

IPO Subscription Status

QIB
7.13x
NII
26.65x
Individual
8.98x
Total
12.24x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Xtranet Technologies

In Cr.

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Strong presence across multiple industries

The company has a strong expertise as an IT solutions provider to both government and private sector customers across a wide range of industries. Its major customer segments include Government, Public Sector Undertakings (PSUs), Law Enforcement, Defence, Railways, Transportation, Food & Beverages, Engineering, Financial Services & Insurance, etc.

02

Strong track record in government projects

Xtranet completed 143 direct projects and 32 indirect projects from FY24 to FY26. The company secures most of these projects through competitive bidding. Its bid-to-win ratio stood at 42% in FY24, 38% in FY25 and 43% in FY26.

03

Long-term customer relationships

The company served around 52 domestic customers, and 28 customers have continued to work with the company for the last three consecutive years.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Customer concentration

The top 10 customers contributed 86.7% to revenue in FY26, with the single largest customer contributing 23.06%. Any deterioration in performance of these customers would have a material impact.

02

High working capital requirement

The business works on a long credit period of between 150 and 210 days and thus has large receivables. Trade receivables stood at ₹114.43 crore (31.3% of FY26 revenue), and the company reported bad debts in each of the last three financial years.

03

Contact Details

Xtranet Technologies

Z-24, Zone - 1, M.P. Nagar, Bhopal, Madhya Pradesh - 462011.

+911143547623
compliance@xtranetindia.com
https://xtranetindia.com

Xtranet Technologies IPO - FAQs

Xtranet Technologies IPO is a Mainboard IPO. The issue is priced at 120-₹127. The minimum order quantity is 110 Shares. The IPO opens on 23 Jul, and closes on 27 Jul. TBA is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.








IPO Timeline

  • Pre Apply2026-07-22
  • Bidding Starts2026-07-23
  • Bidding Ends2026-07-27
  • Allotment Finalisation2026-07-28
  • Release of Funds2026-07-29
  • Demat Transfer2026-07-29
  • Listing2026-07-30
04

Experienced management group

The company is led by a 3-member promoter group with over 22 to 25 years of industry experience across IT infrastructure, business development and operations, supported by professionals heading each business vertical.

Intellectual property ownership

Some of the company’s key trademarks remain registered in promoters name rather than the company and are being used under licensing agreements.

04

High dependence on government orders

47.06% of FY26 revenue comes from Government and PSU customers. While this provides business visibility, the company remains dependent on government spending, tender-based project awards and timely budget allocations.