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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of borrowings
Prepayment or repayment of a portion of outstanding borrowings to lower finance costs.
Capital expenditure on systems and hardware
Funding the acquisition of IT systems and hardware equipment to expand operational delivery capacity.
Working capital requirements
Meeting ongoing working capital needs to support expanding business operations.
General corporate purposes
Funding general corporate requirements and issue-related expenses from the remaining net proceeds.
(₹ in Crore)
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XtraNet Technologies Limited, established in 2002 and based in Bhopal, Madhya Pradesh, is a technology solutions provider specializing in digital transformation, enterprise software applications, IT infrastructure management, and system integration for public and private sector clients. The company offers an integrated suite of services comprising custom software development, cloud infrastructure setup and maintenance, cybersecurity, and IT consulting services. Its client portfolio spans multiple industries, including automotive manufacturing, educational institutions, banking and financial services, and various government departments. XtraNet has developed proprietary technology platforms, including XtraTrust for digital certificates, eatNstay for hospitality management, and Peddle Point for retail operations. The company holds a 99-year land lease from the Madhya Pradesh state government for its IT park facilities in Bhopal, providing a long-term operational base for expansion in tier-2 Indian technology markets.
Xtranet Technologies raised approximately Rs 50.04 crore from ten institutional anchor investors on July 22, 2026, allocating shares at the upper price band of Rs 127 per share. Saint Capital Fund and Viney Growth Fund secured the largest allocations, followed by Innovative Vision Fund and Longthrive Capital VCC (Trendview Capital Fund), with Taurus Mutual Fund participating across three of its domestic schemes.
Source: RHP • Analysis provided for informational purposes
Last Updated: 29 July 2026, 5:53 PM
Comprehensive IT service offerings
The company provides end-to-end IT services spanning enterprise applications, managed cloud services, digital transformation, and proprietary software platforms under a unified operating model.
Strong unexecuted order book
As of April 2026, the company holds an unexecuted order book of approximately Rs 357 crore, offering clear short-to-medium term revenue visibility.
Secured infrastructure lease
A 99-year land lease from the state government of Madhya Pradesh ensures long-term stability and infrastructure capacity for its IT park operations.
Diverse vertical presence and proprietary products
The firm serves clients across automotive, education, financial services, and government sectors, backed by in-house platforms like XtraTrust, eatNstay, and Peddle Point.
High client concentration
The top ten customers accounted for roughly 87 percent of total revenue in fiscal 2026, creating significant reliance on a small cluster of key clients.
Exposure to public sector contracts
Government and public sector entities generated approximately 47 percent of fiscal 2026 revenue, subjecting the business to public procurement procedures and budget timelines.
Geographic concentration of revenue
Approximately 86 percent of fiscal 2026 revenue originated from three states (Maharashtra, Madhya Pradesh, and Delhi), leaving the business exposed to regional economic conditions.
Xtranet Technologies Limited
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Supplier concentration risk
The top ten vendors provided over 95 percent of purchases in fiscal 2026, creating heavy dependence on a limited network of suppliers for hardware and software components.