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Xtranet Technologies IPO closes 12x subscribed; HNI leads
The ₹170 crore Xtranet Technologies IPO saw 12x overall subscription, driven by 26.65x HNI demand and late QIB buying. SBI Securities flagged customer concentration risk and long receivables cycle.
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Xtranet Technologies’ ₹170 crore IPO closed Monday with overall subscription of 12.24 times, driven by last-day institutional buying and sustained high-net-worth individual demand. Total bids reached 11.25 crore shares against 91.94 lakh on offer.
The NII category was the standout, subscribed 26.65 times. The large bucket (bids above ₹10 lakh) and the smaller bucket (₹2–10 lakh) each clocked about 26.7 times and 26.5 times, respectively.
Retail investors subscribed 8.98 times, up sharply from 2.50 times at the end of day two. The QIB category, which had trailed at 0.91 times through day two, surged to 7.13 times by close. Foreign institutional investors bid for 39.76 lakh shares, while other QIBs accounted for 1.48 crore shares.