Upcoming IPO, Feb. 13 -- Xtranet Technologies Ltd has been issued final observation by the Securities and Exchange Board of India (SEBI), allowing them to raise Rs.190 crore through an initial public offering (IPO).

The upcoming IPO is structured as a new issuance of equity shares valued at up to Rs.190 crore, without any portion designated for an offer-for-sale. As outlined in the Draft Red Herring Prospectus (DRHP) submitted on September 25, 2025, the company plans to allocate the funds raised from the IPO for repaying or pre-paying specific existing borrowings, financing capital expenditures for acquiring and installing advanced hardware systems, and meeting working capital needs.

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