IPO Watch: XED files DRHP, becomes first Indian company to launch IPO via GIFT City | Stock Market News

XED, a global executive education platform, has filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO). With this, XED has becomes the first Indian company to pursue an IPO via GIFT City, a move designed to attract global investors.

According to the company’s DRHP, the XED IPO will be a mix of fresh issue and an offer for sale by the promoters and other shareholders of the company. However, XED did not specify the amount of money it is looking to raise from the initial share sale.

The company plans to use the funds from the IPO for meeting working capital needs, capital expenditure in technology, general corporate purposes, and to pursue an unidentified inorganic acquisition.

The equity shares of the company are proposed to be listed on the NSE IFSC Limited and India International Exchange Limited.

“Our forthcoming listing on India INX is a testament to our commitment to growth and innovation. We’re confident that this milestone will enable us to access new capital streams and further establish our presence in the global market,” said Piyush AgrawalCo-founder & CTO, XED Executive Development Limited.

Global Horizons Capital Advisors is the book-running lead manager, and KFinTech is the registrar for the issue.

About XED

XED is a global provider of executive education solutions, delivering high-impact, academically rigorous, and industry-relevant programs for senior leaders, CXO, and organisations worldwide. The company was established as a private limited entity in 2018, and in 2025, it became a public entity.

Over the last 10 years, XED has worked with over 20 of the world’s most respected academic institutions, the company said in a press release. Its portfolio includes deep engagements with institutions such as Cornell University, University of Oxford, University of Michigan Ross School of Business, Indian School of Business, University of Virginia Darden School of Business, and Carnegie Mellon University among others.

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