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Xtranet Technologies IPO to price between ₹120-127 for Dalal Street debut

The fresh issue of 1.31 crore shares aims to raise ₹166.8 crore, with shares expected to list around 30 July on both BSE and NSE.

Reported · Written up by our desk · Asia

Xtranet Technologies plans to launch its IPO on the Indian mainboard between 23 July and 27 July, setting a price band of ₹120 to ₹127 per equity share, according to LiveMint Markets.

The offering will be a completely fresh issue of 1.31 crore shares, raising ₹166.8 crore, with no offer for sale component. The company expects a tentative listing date of 30 July, with shares proposed to be traded on both the BSE and NSE.

For bidding, investors can apply in multiples of 110 shares. At the upper end of the price band, LiveMint Markets notes the minimum retail investment is ₹13,970 for 110 shares, with retail applications capped at 14 lots.

In the grey market, the IPO’s GMP is quoted at +26, implying an estimated listing price of ₹153 per share, about 20.5% above the ₹127 upper band. LiveMint Markets also reports the issue has a share reservation structure of up to 50% for QIBs, at least 35% for retail individual investors, and at least 15% for non-institutional investors.

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