XED Executive Development Limited (XED) has taken a historic step by filing its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO). Thus, it has become the first Indian company to offer an IPO through GIFT City (Gujarat International Finance Tec-City). This historic move is aimed at attracting global investors and increasing India’s presence in international capital markets.
XED IPO Details
As per the DRHP, the upcoming XED IPO will be a combination of a fresh issue and an offer for sale (OFS) by the promoters and existing shareholders. Although the company has not disclosed the exact fundraising target, it expects the amount to be used across several key areas, including:
- Working capital requirements
- Technology-driven capital expenditure
- General corporate purposes
- Inorganic acquisition opportunities (details yet to be revealed)
XED’s equity shares are proposed to be listed on NSE IFSC Limited and India International Exchange Limited (India INX), marking a significant milestone for both the company and the Indian capital market ecosystem.
Company’s Statement
Commenting on the milestone, Piyush Agarwal, Co-Founder and Chief Technology Officer, XED, said:
“Our upcoming listing on India INX is a testament to our commitment to growth and innovation. We are confident that this IPO will open up access to new capital streams and further strengthen our presence in the global market.”
The IPO will be managed by Global Horizons Capital Advisors as the book-running lead manager, while KFinTech will act as the registrar to the issue.
About XED Executive Development Limited
Founded in 2018, XED began as a private limited company and transformed into a public entity in 2025. It has rapidly emerged as a global leader in executive education, providing academically rigorous and industry-relevant learning solutions for:
- CXOs
- Senior leaders
- Corporate organizations worldwide
Over the past decade, XED has partnered with over 20 world-renowned academic institutions. Its collaborations include the following prestigious names:
- Cornell University
- University of Oxford
- University of Michigan Ross School of Business
- Indian School of Business (ISB)
- University of Virginia Darden School of Business
- Carnegie Mellon University
Through these global partnerships, XED has built a strong reputation for providing high-impact executive programs that combine academic excellence with real-world relevance.
Why This IPO Matters
XED’s IPO through GIFT City is not just a fundraising event but also a milestone for India’s financial sector. By choosing GIFT City, XED is setting a precedent for other Indian companies to access global investors through this emerging international financial hub.
This IPO is expected to:
- Strengthen XED’s financial capabilities for future expansion
- Enhance India’s position as a global destination for capital raising
- Encourage more startups and corporations to consider India INX and NSE IFSC for listings
Key Takeaway
XED’s decision to file its DRHP and launch its IPO through GIFT City is a landmark move for the Indian market. The company’s innovative approach, global academic collaborations and strategic expansion plans underline its growth potential.
Investors should keep a close eye on this IPO as it not only reflects XED’s ambitions but also signals the growing importance of GIFT City as a global financial hub.