New Delhi, Aug. 20 -- XED, a global executive education platform, has filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO). With this, XED has becomes the first Indian company to pursue an IPO via GIFT City, a move designed to attract global investors.

According to the company's DRHP, the XED IPO will be a mix of fresh issue and an offer for sale by the promoters and other shareholders of the company. However, XED did not specify the amount of money it is looking to raise from the initial share sale.

The company plans to use the funds from the IPO for meeting working capital needs, capital expenditure in technology, general corporate purposes, and to pursue an unidentified inorganic acquisition.

The equity...