Xtranet Technologies IPO
Price band
₹120 – ₹127
Lot size
110 shares
Min investment
₹13,970
Issue size
₹166.80 Cr
IPO schedule
| Open date | 23 Jul 2026 |
| Close date | 27 Jul 2026 |
| UPI mandate cut-off | 27 Jul 2026 |
| Allotment finalisation | 28 Jul 2026 |
| Refund initiation | 29 Jul 2026 |
| Shares credited to demat | 29 Jul 2026 |
| Listing date | 30 Jul 2026 |
| Mandate end date | 11 Aug 2026 |
| Anchor lock-in (50%) | 26 Aug 2026 |
| Anchor lock-in (remaining) | 26 Oct 2026 |
Issue size
About Xtranet Technologies
Xtranet Technologies Limited is an information technology solutions provider that delivers services across enterprise applications, managed services, digital services, and proprietary platforms. The company engages in system integration, enterprise resource planning implementation, cybersecurity, cloud services, and data center management. It caters to government departments, public sector undertakings, and private sector entities operating across diverse industry verticals. Xtranet Technologies Limited generates revenue through a combination of fixed-price contracts, time-and-materials arrangements, and recurring service agreements, obtaining projects through direct competitive bidding and indirect channels such as subcontractors or consortium partners. In addition to delivering IT services, the company procures hardware, software products, and networking components from external suppliers to execute and fulfill its project commitments.
Strengths
- The company provides integrated IT solutions spanning enterprise applications, managed services, digital services, and proprietary platforms.
- The company has an unexecuted Order Book standing at ₹35,695.70 lakhs as of April 30, 2026.
- The company secured a 99-year lease from the Governor of Madhya Pradesh for land dedicated to its IT Park operations.
- The company serves a client base across both public and private sectors in verticals including automotive, education, and financial services.
- The company maintains proprietary digital solutions and software platforms including XtraTrust, eatNstay, and Peddle Point.
Risks
- The company depends heavily on a limited client base, with its top 10 customers generating 86.72% of Fiscal 2026 revenue.
- The company is exposed to public-sector procurement risks, with Government and PSU clients accounting for 47.06% of Fiscal 2026 revenue.
- The company faces geographic concentration risk, with 85.72% of Fiscal 2026 revenue derived from operations in Maharashtra, Madhya Pradesh, and Delhi.
- The company relies significantly on vendor concentration, with its top 10 suppliers accounting for 95.24% of total purchases in Fiscal 2026.
- The company operates with high working capital requirements, holding ₹11,133.06 lakhs in trade receivables and ₹7,769.36 lakhs in inventory as of Fiscal 2026.
Use of proceeds
| Capital expenditure | ₹7.3 (4.38%) Cr |
| Repayment of borrowings | ₹21.99 (13.18%) Cr |
| Working capital | ₹102 (61.15%) Cr |
| General corporate purposes | ₹35.51 (21.29%) Cr |
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