The stock debuted at ₹136 on the NSE, a premium of 7.1% over its issue price of ₹127. On the BSE, the shares listed at ₹130.10, translating into a premium of 2.4%.
Ahead of the listing, Xtranet Technologies was commanding a grey market premium (GMP) of around ₹14.5, indicating an expected listing gain of nearly 11.4%.
The IPO received a healthy response, with the issue being subscribed 12.24 times and attracting more than 3.3 lakh applications. Investors placed bids worth over ₹1,430 crore for the ₹167-crore public issue.
Market experts offered differing views on the stock’s post-listing prospects. Shivani Nyati, Head of Wealth at Swastika Investmart, suggested that investors who received an allotment may consider exiting on a modest listing gain. On the other hand, Mahesh M. Ojha, Vice President of Research at Kantilal Chhaganlal Securities, recommended holding the stock from a medium- to long-term perspective.
The IPO comprised entirely a fresh issue of 1.31 crore equity shares, with no Offer for Sale (OFS). As a result, the entire proceeds from the issue will be used to fund the company’s growth plans and business requirements.
The company had fixed the IPO price band at ₹120-127 per share.
Founded in 2002, Xtranet Technologies is an integrated IT solutions provider offering enterprise technology services across digital transformation, cloud computing, managed services, cybersecurity and IT infrastructure.Its offerings include ERP implementation, system integration, network and security solutions, cloud integration, virtualisation, data centre management, application development and infrastructure management.
The company also provides cloud-based services through Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) models.
Its proprietary products include Synergy, a low-code digital transformation platform, and XtraTrust. Xtranet derives revenue through fixed-price projects, time-and-material contracts and recurring service agreements, with a significant portion of its business coming from government departments and public sector undertakings (PSUs).
The company reported strong financial performance in FY26. Total income increased 32% year-on-year to ₹366 crore, while net profit rose 36% to ₹40.7 crore. EBITDA also improved to ₹63.2 crore from ₹47.2 crore in the previous financial year.
