Xtranet Technologies IPO

About the company

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.

GMP trend (Grey Market Premium by date)

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Jul 2026

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   27 Jul 2026

   Last day to place your bid

3. Basis of Allotment

   Completed
   28 Jul 2026

   Share allotment finalised

4. Refund Initiation

   Completed
   29 Jul 2026

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   29 Jul 2026

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   30 Jul 2026

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.