XED Executive development launches India’s first IFSC-based IPO from GIFT City
Gandhinagar: XED Executive Development has launched an initial public offering (IPO) from GIFT City, marking the first IPO to originate from India’s International Financial Services Centre (IFSC).
The shares are fully priced in US dollars and the offer will remain open to eligible overseas investors until 24 March 2026. The company aims to raise $12 million, with shares proposed for listing on the NSE International Exchange and the India International Exchange at GIFT City. The price band has been set between $10 and $10.5 per share. The entire public offer is structured under the IFSC framework, underlining a focus on attracting international capital.
Strengthening GIFT City’s IPO Ecosystem
Market participants see the IPO as a significant step in developing the IFSC ecosystem at GIFT City. Analysts believe the listing could enhance the city’s standing as an international financial hub capable of drawing global institutional investors. The IPO had initially been scheduled for 6 March 2026 but was deferred due to geopolitical tensions in the Middle East.
Global Horizon Capital Advisors (IFSC) is acting as sole book running lead manager, while DBS Bank Ltd. and RBL Bank Ltd. are the bankers to the issue. KFin Technologies is managing registrar services. Transactions in the IPO are conducted exclusively in US dollars, in line with IFSC regulations.
Investor Participation
The IPO is open to Non-Resident Indians (NRIs), foreign portfolio investors (FPIs), institutional investors and other eligible overseas participants under IFSCA regulations. Investors must submit applications via brokers or intermediaries registered with GIFT City-IFSC.
Key IPO Details
| Parameter | Details |
|---|---|
| Issuer | XED Executive Development |
| Issue type | Initial Public Offering (IPO) |
| Issue opening date | 16 March 2026 |
| Issue closing date | 24 March 2026 |
| Price band | $10 – $10.5 per share |
| Issue size | $12 million |
| Currency | US dollars |
| Proposed listings | NSE International Exchange, India International Exchange |
| Issue jurisdiction | GIFT City-IFSC |
| Lead manager | Global Horizon Capital Advisors (IFSC) |
| Bankers | DBS Bank Ltd., RBL Bank Ltd. |
| Registrar | KFin Technologies |
Founded in 2018, XED Executive Development operates a global executive education platform, offering leadership and management programmes for senior professionals. Its clients include executives from Fortune 500 companies, and operations span India, the Middle East, Southeast Asia and North America, with programmes tailored for senior corporate participants.
ALSO READ | Major technology boost: India emerges as a key player in the global chip supply chain shift
Once the IPO process concludes, XED Executive Development shares are expected to trade on NSE IX and India INX at GIFT City, providing investors with exposure to a global education-focused business within an international market framework.