Gift City’s First Ever IPO: XED Executive Development IPO Set to Open on March 6

Gift City’s first-ever IPO is set to open today, March 6, 2026. The IPO is being launched by Executive learning solutions provider XED Executive Development. The company fixed the price band of $10–$10.5 per share for its $12 million initial public offering (IPO), which will open for subscription at GIFT City on March 6. 

The offer will remain open until March 18 and will mark the first equity share sale at Gujarat International Finance Tec-City (GIFT City) under the regulatory framework of the International Financial Services Centres Authority (IFSCA).

Open to Global Investors Under IFSC Framework

The public issue will be accessible to eligible investors under the IFSCA framework, including Non-Resident Indians (NRIs), foreign portfolio investors, institutional investors, and other permitted overseas participants. The company aims to tap international capital markets through GIFT City’s offshore financial ecosystem.

Funds to Support Global Expansion

Commenting on the fundraising plan, John Kallelil, Founder and Managing Director of XED, said the proceeds will be used to accelerate the company’s global growth strategy. “We are raising capital to expand our international programs, strengthen partnerships with universities, and invest in delivery capabilities across key global markets,” he said.

Milestone For GIFT City Capital Markets

V Balasubramaniam, MD & CEO of NSE International Exchange (NSE IX), said the IPO represents a significant step for the IFSC ecosystem. “This transaction marks an important milestone and could set a strong precedent for globally oriented companies evaluating GIFT City as an offshore capital-raising platform,” he noted, adding that the exchange is in discussions with several international issuers and is seeing rising interest in accessing global capital through the framework.

Listing Details and Advisors

XED Executive Development provides executive education programs to senior professionals in more than 25 countries, with operations across India, the Middle East, Southeast Asia, and North America. Its equity shares will be listed on NSE International Exchange (NSE IX) and India International Exchange (India INX) at GIFT City and will trade as dollar-denominated instruments.

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Global Horizon Capital Advisors (IFSC) is the sole book-running lead manager for the issue, while DBS Bank and RBL Bank are the bankers to the offering. KFin Technologies has been appointed as the registrar to the issue.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.