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Xtranet Technologies IPO
12.10xsubscribed

Xtranet Technologies IPO

IT - Software
listed
₹13,200Min. investment

Xtranet Technologies Limited IPO Details

SectorIT - Software
Price range₹120 – ₹127
IPO type
Regular
Lot size110 shares
Issue size₹167Cr
Red Herring Prospectus
Read
Market cap
₹664CrLower than sector avg
RevenueApr 2025 - Mar 2026
₹365.28CrLower than sector avg
Growth rate3Y CAGR
25.20%Higher than sector avg

Xtranet Technologies IPO Subscription Status

Date
QIB
NII
Retail
Total
23-Jul-26
0.46 times (X)
0.75 times (X)
1.38 times (X)
1.11 times (X)
24-Jul-26
0.46X
1.56X
1.69X
1.31X
27-Jul-26
5.54X
26.39X
8.75X
12.1X

As on 23-Jul-26, 5:30 PM

Xtranet Technologies IPO Timeline

  1. Pre-apply
    22 Jul 2026
  2. Bid start
    23 Jul 2026
  3. Bid end
    27 Jul 2026
  4. Allotment
    28 Jul 2026
  5. Release of funds
    29 Jul 2026
  6. Demat transfer
    29 Jul 2026
  7. Listing
    30 Jul 2026

About Xtranet Technologies Limited

Xtranet Technologies is an IT solutions company that offers end-to-end technology services to businesses and government organisations. The company provides enterprise resource planning (ERP) services, managed services, digital services, proprietary software platforms and technology solutions developed with global partners.
Incorporated in 2002, the company started by offering system integration services, including data networking, IT security, smart city IT infrastructure and SOC/NOC deployments. Over the years, it expanded into new business areas. It entered application development in 2008, data centre services in 2012, and ERP implementation in 2014.
In 2021, the company launched PKI and digital signature services through its subsidiary XtraTrust DigiSign Private Limited. In 2022, it expanded into business intelligence and analytics through XtraSynergy Solutions Private Limited, which later became its subsidiary.
Xtranet Technologies operates through four business segments: Enterprise applications, managed services, digital services, and proprietary platforms & products. Managed services was the largest business, contributing 40.5% of total revenue, followed by enterprise applications at 33.2% of revenue and digital services at 15.9% in FY26. Within enterprise applications, the company provides ERP implementation and support through its proprietary X-ERP platform, system integration, data centre solutions and application development. Data centre services accounted for 18.2% in FY26, of which 6.3% came from digital transformation services and 9.5% from emerging technologies such as AI, IoT, cloud and blockchain.
The company has developed two proprietary technology platforms: Synergy, which is a low-code digital transformation platform that helps organisations automate workflows, manage content, build web and mobile applications, integrate systems and generate analytics dashboards, and XtraTrust, operated through XtraTrust DigiSign Private Limited, became a licensed certifying authority and esign service provider authorised by MeitY in 2021. The platform provides PKI-based digital signatures, authentication services, e-seal solutions and time-stamping services.
The company wins most of these projects through competitive bidding on platforms such as the Government e-Marketplace (GeM). Revenue from Government and PSU customers stood at ₹171.90 crore (47.1%) in FY26. Between FY24 and FY26, it submitted 518 bids and won 214, resulting in an average bid-to-win ratio of 41%. As of April 30, 2026, the company had an order book of ₹356.9 crore across 76 ongoing projects, including 57 direct projects and 19 indirect projects.
Dynacons Systems and Solutions Ltd. accounted for 38.13% of the total order book value. The company served around 52 domestic customers during FY26, of which 28 customers have been associated with the company continuously for the last three years. The top 10 customers contributed 86.7% of total revenue in FY26, compared with 65.9% in FY25. The largest customer alone contributed 23.1% of FY26 revenue. The company's revenue is mainly generated in the domestic markets, with Maharashtra contributing 50.9% of revenue in FY26, followed by Madhya Pradesh at 28.1%. Exports currently contribute only a very small share of revenue. The company also has an associate presence in the UAE through Extranet Technology Solutions L.L.C.
The Indian IT-ITeS industry achieved a CAGR of 9.5% between FY21 and FY26 to reach a market size of $30,828 crore in FY26. The market size is anticipated to grow at a CAGR of 6.9% from FY26 to FY31 to reach $43,023 crore by FY31.
Data centre sector is expected to see an investment of $460 crore by 2025 with a growth rate of 5% CAGR from 2019 to 2025, almost double the global average growth rate. The government programs like the Smart Cities Mission are further driving demand for digital infrastructure, creating opportunities for companies involved in system integration and data centre services. The Asia Pacific cloud services market is expected to grow from USD 8,395 crore in CY24 to USD 16,455 crore by CY29, at a 14.41% CAGR. India accounts for 6.44% of this regional market, with cloud services revenue of around USD 541 crore.
The expected growth of the Indian IT industry is a long-term opportunity for Xtranet Technologies to grow its business and win more technology projects. The company's digital services business benefits from the growth of the PaaS market and the increasing adoption of the cloud. These trends align with its strategy to buildup its cloud-based offerings through IaaS, PaaS and SaaS solutions delivered with global technology partners. The growing adoption of low-code and no-code platforms is a tailwind for the company’s proprietary Synergy platform. The company’s XtraTrust division offers electronic signatures, authentication, e-Seal and time-stamping services for government and enterprise clients and sees an opportunity in the rising need for cybersecurity and digital trust solutions.
Now, Xtranet Technologies Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹170.00 crore Its shares will be listed on the NSE and BSE.

How to pre-apply for Xtranet Technologies IPO?

You can pre-apply for Xtranet Technologies IPO on Upstox. The pre-application for this IPO, which means the pre-apply open date, usually begins a day before the IPO opens for subscription.
Follow these steps to pre-apply for the IPO:
  • Login to your Upstox account, using your six-digit PIN
  • After successfully logging in, click on ‘Discover’
  • On the Discover tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Xtranet Technologies IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Pre-Apply’
  • Accept the mandate on your UPI app

How to apply for Xtranet Technologies IPO?

If you are interested in this investment opportunity but unsure how to apply for SBI Funds Management IPO, here are the steps that you need to follow.
When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for Xtranet Technologies IPO on Upstox:
  • Log in to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ tab, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, look for the ‘Xtranet Technologies IPO’ tab and click on it
  • Now fill in all the required information, like ‘bid price’ and ‘lot size’
  • Confirm and click on ‘Apply’
  • Accept the mandate on your UPI app

**How to check the Xtranet Technologies IPO allotment status? **

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally completed on the next working day after an IPO closes.
Here’s a step-by-step guide on how to check the Xtranet Technologies IPO allotment status:
  • Login to your Upstox account, using your six-digit PIN
  • After logging in, click on ‘Discover’
  • On the ‘Discover’ page, you will find the ‘Invest in IPO’ section
  • Under the Invest in IPO section, you will find the ‘View all’ option
  • Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
  • In the ‘IPO’ tab, click on ‘My applications’
  • In ‘My applications’, under the History section, your Xtranet Technologies IPO allotment status will be mentioned.

Xtranet Technologie Limited IPO Analysis

IPO REVIEW

Xtranet Technologies IPO | Analysis Video

Should you apply?

Watch our analysts break down the Xtranet Technologie Limited IPO — business model, financials, valuation and key risks — to help you decide whether to apply. The video covers the IPO price band, important dates, and what the subscription numbers mean for retail investors.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
Risk analysis
Debt to Equity ratio
Promoter holdings
Shares pledged
The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily

Strength and Weakness

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.

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.

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.

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.

Objectives of Xtranet Technologie Limited IPO

Working capital
60.10%
The company will use ₹102.00 in crore for working capital requirements of the business.
General corporate purposes
23.10%
Part of the IPO proceeds will be used for general corporate purposes and issue expenses
Repayment of debts
11.80%
The company will use ₹20.19 crore for repayment of borrowings.
Capital expenditures
4.90%
The company will use ₹8.48 crore for purchase and installation of systems and hardware.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹365.28Cr25.20%₹40.72Cr₹664Cr12.210.63
This sector (avg.)₹2,461.47Cr0.05%₹373.09Cr₹14,720.51Cr148.010.31
₹2,55,324Cr---₹48,797Cr₹11,30,254Cr23.690.10
₹1,62,990Cr---₹26,750Cr₹6,63,897.8Cr24.310.09
₹1,17,055Cr---₹17,399Cr₹4,58,746.3Cr27.940.09

*Revenue for financial year 2025-26. Lower P/E and D/E ratios are generally preferred.

Xtranet Technologies IPO Contact Details

Company NameXtranet Technologies Limited

How to apply for Xtranet Technologies IPO?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Xtranet Technologie Limited IPO FAQs

Investors can apply for the Xtranet Technologies IPO through their Demat account via the stock exchange or through their broker.
The issue size of the Xtranet Technologies IPO is 167 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Xtranet Technologies IPO will be open between 2026-07-23 and 2026-07-27.
Xtranet Technologies IPO allotment date is 2026-07-29. For Xtranet Technologies IPO allotment status check, you can visit the website of the registrar of the IPO.
For Xtranet Technologies IPO, the IPO registrar is Kfin Technologies Limited. You can check Xtranet Technologies IPO allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Xtranet Technologies IPO shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Xtranet Technologies IPO lot size is 110 and minimum order quantity is 110.
Xtranet Technologies IPO has set the price band for its IPO at 127 per equity share with a face value of 10.