XED to Launch GIFT City’s $12 Million IPO; public release opening on March 6

Executive learning solutions provider XED Executive Development said Friday it has set a price range of $10-10.5 per share for its $12 million initial public offering, which opens for subscription at GIFT City on March 6.This will be the first share sale at Gujarat International Finance Tec-City, India’s IFSC, under the regulatory framework of the International Financial Services Centers Authority (IFSCA).

The initial public offering (IPO) opens on March 6 and ends on March 18.The public issue is open to eligible investors under the IFSCA framework, including non-resident Indians (NRIs), foreign portfolio investors, institutional investors and other permitted foreign participants.

“We are raising capital to accelerate global program expansion, deepen university partnerships and invest in delivery capabilities in key markets,” said John Kallelil, Founder and Chief Executive Officer of XED.

V Balasubramaniam, MD & CEO, NSE International Exchange (NSE IX), said, “The IPO marks a significant milestone for the IFSC ecosystem. We expect this transaction to set a strong precedent for globally minded companies evaluating GIFT City as an offshore capital raising platform.”

He added: “We are in discussions with several international issuers and are witnessing growing interest in accessing global capital through this framework.” XED Executive Development is a leading executive education provider, serving senior professionals in more than 25 countries, with offices in India, the Middle East, Southeast Asia and North America.

The shares will be listed on the NSE International Exchange (NSE IX) and the India International Exchange (India INX) at GIFT City, India’s International Financial Services Center, and will be traded in a dollar-denominated instrument.

Global Horizon Capital Advisors (IFSC) is the sole book running lead manager, while DBS Bank and RBL Bank are the bankers, and KFin Technologies is the registrar of the issue.