XED files for $12-mn IPO at IFSCGIFT City
New Delhi: XED Executive Development Ltd has filed papers for raising about $12 million through its initial public offering (IPO), setting the stage for the first public issue to be launched from GIFT City, India's International Financial Services Centre (IFSC).
The company's IPO is expected to open for subscription in the first week of March 2026, according to its statement. The offering marks a major step for Gujarat International Finance Tec-City, India's IFSC, as it prepares to see its first public issue under the regulatory framework of the International Financial Services Centres Authority (IFSCA).
XED said it has secured approvals from the stock exchanges and filed its Red Herring Prospectus with the Registrar of Companies (RoC) after completing all regulatory requirements. The IPO will be open to eligible investors under the IFSCA framework, including non-resident Indians (NRIs), foreign portfolio investors (FPIs), institutional investors, and other permitted overseas participants.
