XED Executive Development Unveils Ambitious IPO at GIFT City

XED Executive Development sets a USD 10-10.5 per share price band for its USD 12 million IPO, launching March 6 at GIFT City, India's IFSC. This marks a milestone under the IFSCA framework, aiming to raise capital for global expansion. The IPO closes March 18.

XED Executive Development announced its pricing for the company's upcoming USD 12 million initial public offering, set at USD 10-10.5 per share. This landmark IPO will be the first at Gujarat International Finance Tec-City, a key node in India's International Financial Services Centre (IFSC) under the IFSCA framework.

The IPO, opening March 6 and concluding March 18, is accessible to NRIs, foreign portfolio investors, institutional investors, and other global participants. John Kallelil, Founder and Managing Director of XED, stated that the funds raised will bolster global program expansion, deepen university ties, and enhance delivery capabilities across strategic markets.

V Balasubramaniam, CEO of NSE IX, celebrated this offering as a pivotal moment for the IFSC ecosystem, indicating potential influence on other global companies contemplating GIFT City for raising offshore capital. The equity will be listed and traded in dollar-denominated instruments on NSE IX and India INX. Global Horizon Capital Advisors, DBS Bank, RBL Bank, and KFin Technologies are collaborating on the IPO.