Xtranet Technologies IPO Day 2: GMP, subscription status live, key dates, should you subscribe?

As of 10:10 am, the IPO was subscribed over 120 per cent. The subscription was mainly led by Retail Individual Investors (RIIs), followed by Non-Institutional Investors (NIIs) and Qualified Institutional Buyers (QIBs).

On the second day of subscription, interest in the grey market remained decent, with the IPO's Grey Market Premium (GMP) standing at Rs 8. This indicates a potential listing premium of around 6.3 per cent.

If the GMP sustains, the estimated listing price could be around Rs 135 per share. This also suggests an estimated profit of Rs 880 on a lot size of 110 shares.

However, investors should note that the IPO has witnessed a declining trend in the grey market. The GMP slipped from Rs 26 on July 20 to Rs 18, then to Rs 13, and currently stands at Rs 8.

Following the three-day subscription window, which concludes on July 27, the IPO will move towards the allotment phase. The allotment is expected to be finalised on July 28.

Xtranet Technologies IPO has set its issue price band at Rs 120 to Rs 127 per share. The lot size for an application is 110 shares. The minimum investment required by a retail investor is Rs 13,970.

Xtranet Technologies is an integrated IT solutions provider offering end-to-end services, including enterprise applications, digital transformation, managed services, proprietary platforms, and strategic technology partnerships.

(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)