SynopsisThe Rs 167 crore Xtranet Technologies IPO was subscribed around 1.4 times on the second day of bidding, led by strong retail demand. While the grey market premium has eased from earlier levels, it still indicates a potential listing gain of over 6%, with the issue set to close on July 27.ETMarkets.comXtranet Technologies IPO sees 1.4x subscription; GMP indicates modest listing gains ahead of debut.The initial public offering (IPO) of Xtranet Technologies continued to see strong investor interest on its second day of public bidding, with the Rs 167 crore issue being subscribed around 1.4 times its offer size on Friday so far.Xtranet Technologies’ IPO has received bids for 1.28 crore shares, against the offer size of nearly 92 lakh shares, according to data on NSE at around 11 am. Retail investors have shown the most interest so far, booking their reserved portion 1.76 times. Qualified Institutional Buyers (QIBs) have booked 91% of the portion kept for them, while that kept for NII has been subscribed 1.22 times.Xtranet Technologies IPO GMPAhead of listing, Xtranet Technologies shares were trading with a grey market premium (GMP) of a little over 6% over the IPO price, according to sites tracking the unofficial market. This is, however, lower than the 20% GMP with which the unlisted shares were trading earlier this week.It is important to note that the grey market is an unofficial platform. The actual listing premium may differ significantly from grey market expectations.Also read | Milky Mist set to launch India's biggest dairy IPO in early AugustAbout Xtranet Technologies IPOXtranet Technologies launched its IPO on Thursday to raise Rs 167 crore entirely through a fresh issue of shares at a price band of Rs 120-127 per share. All of the IPO proceeds will go to the company, as there is no offer for sale component in the IPO.The maiden public issue of the company will be open for bidding from July 23 to July 27. The share allotments are expected to be finalised on July 28, while the company's shares are likely to make their debut on NSE and BSE on July 30.Retail investors can bid for a minimum of 110 shares, requiring an investment of Rs 13,970 at the upper end of the price band. They can apply for up to 14 lots (1,540 shares), translating into a maximum investment of Rs 1.96 lakh.For small non-institutional investors (sNII), the minimum application size is 15 lots (1,650 shares) worth Rs 2.10 lakh, while big NIIs (bNII) must apply for at least 72 lots (7,920 shares), amounting to Rs 10.06 lakh.As per the allocation structure, up to 50% of the issue is reserved for qualified institutional buyers (QIBs), while 35% is earmarked for retail investors and 15% for non-institutional investors (NIIs).About Xtranet TechnologiesXtranet Technologies is an integrated IT solutions provider offering enterprise technology services across digital transformation, cloud computing, managed services, cybersecurity and IT infrastructure. Founded in 2002, its offerings include ERP implementation, system integration, network and security solutions, cloud integration, virtualisation, data centre management, application development and infrastructure management.The company also provides cloud-based services through Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) models.Also read | History test! What last 12 billion-dollar IPO listing gains indicate about SBI Funds' Rs 9,813 crore debut(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless(You can now subscribe to our ETMarkets WhatsApp channel)Read More News on(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price...moreless