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Xtranet Technologies shares open 7% above IPO price on NSE
The stock started at ₹136 on NSE and ₹130.10 on BSE on July 30, with its debut coming below market expectations after a ₹14.5 GMP implied a higher estimated listing price.
Xtranet Technologies’ shares made a moderate start on the Indian exchanges on Thursday, July 30, opening at a premium to its IPO price. LiveMint Markets said the stock opened at ₹136 on the NSE and ₹130.10 on the BSE, representing about a 7% and 2.4% premium, respectively, over the ₹127 issue price.
The outlet also noted the listing landed below market expectations. It cited a grey market premium, or GMP, of ₹14.5 for the IPO, which pointed to an estimated listing price of around ₹141.5.
According to LiveMint Markets, the IPO was a fresh issue of 1.31 crore equity shares worth ₹166.8 crore, with no Offer for Sale component, meaning the company received the full proceeds. The shares were offered for subscription from July 23 to July 27, with the price band set at ₹120 to ₹127.
The article further said the issue had allocation plans of up to 50% for Qualified Institutional Buyers, at least 35% for Retail Individual Investors, and a minimum of 15% for Non-Institutional Investors. It also named Share India Capital Services as the book-running lead manager and KFin Technologies as the registrar.