Xtranet Technologies has announced plans to raise ₹167 crore through an initial public offering on the mainboard.
The IT solutions and services provider will issue 1.31 crore equity shares with a price band set between ₹120 and ₹127 per share.
The company intends to use the proceeds to repay existing debt, fund capital expenditure, support business expansion, and bolster working capital.
The move signals a strategic shift toward public markets for the firm, which operates in the competitive IT services sector.
The filing comes as several other Indian companies prepare for public debuts.
Ratnadeep Retail Ltd recently submitted draft red herring prospectus documents to the Securities and Exchange Board of India (SEBI) for a ₹400 crore IPO.