Upcoming IPO: Xtranet Technologies Ltd has been issued final observation by the Securities and Exchange Board of India (SEBI), allowing them to raise ₹190 crore through an initial public offering (IPO).
The upcoming IPO is structured as a new issuance of equity shares valued at up to ₹190 crore, without any portion designated for an offer-for-sale. As outlined in the Draft Red Herring Prospectus (DRHP) submitted on September 25, 2025, the company plans to allocate the funds raised from the IPO for repaying or pre-paying specific existing borrowings, financing capital expenditures for acquiring and installing advanced hardware systems, and meeting working capital needs.
Share India Capital Services Private Limited is serving as the Book Running Lead Manager for the offering, and KFin Technologies Ltd has been designated as the Registrar.
Established in 2002, Company boasts more than 23 years of expertise in providing IT services and solutions. The company presents a varied range of offerings that encompass comprehensive services, such as enterprise applications, digital services, managed services, proprietary platforms, and has formed strategic technology partnerships for clients spanning various industries and regions.
Xtranet Technologies Ltd (XtraNet) caters to a diverse range of clients including telecommunications giants, government/public sector undertakings, and industrial companies, with many clients located in Madhya Pradesh, reflecting its headquarters in Bhopal.
Key Clients
The firm’s clientele encompasses a variety of industries, such as telecommunications, public sector, infrastructure, and enterprise services. In the telecommunications sector, it has collaborated with Vodafone Essar Spacetel, Tata Teleservices, Tata Docomo, and Dishnet Wireless. Its projects related to infrastructure and government include MPMKVVCL, MPSEDC, MP Forest, MP Online, Maha Online, and Dilip Buildcon. Additional clients consist of HEG Limited, Eicher Tractors, Sonic Biochem, and Samast Technologies.
These partnerships involve IT infrastructure, ERP, and BPO services; while the telecommunications sector initially fueled growth, the company has since broadened its focus to include wider digital transformation efforts.
The company announced robust growth for FY25, with consolidated revenue increasing by 19% year-over-year to reach ₹276 crores, and PAT skyrocketing by 174% to ₹30 crores.
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