India’s International Financial Services Centre (IFSC) at GIFT City is preparing for a notable development in its capital markets ecosystem as XED Executive Development moves ahead with a proposed public offering.
The planned issue, expected to open in early March, represents a shift towards equity fundraising within the offshore financial hub and reflects broader efforts to attract global investors.
XED Executive Development has filed its Red Herring Prospectus following regulatory approvals, outlining plans to raise approximately $12 million through a public offering.
The shares are expected to be listed on NSE International Exchange (NSE IX) and India International Exchange (India INX), both based in GIFT City.
The issue will be denominated in US dollars, allowing investors to subscribe and trade in foreign currency. This structure is designed to align with international market practices and facilitate participation from overseas investors.
The proposed listing is expected to be the first equity IPO launched from GIFT City’s offshore exchanges. While the IFSC has previously hosted debt listings and derivatives trading, an operating company raising equity capital marks a new phase in the development of the platform.
Market participants view the offering as an early test of the offshore listing framework established under the International Financial Services Centres Authority (IFSCA).
Founded in 2018, XED Executive Development operates as a global executive education provider delivering leadership and management programmes to senior professionals across more than 25 countries.
The company works with multiple international academic institutions to design programmes focused on leadership strategy, digital transformation and emerging technologies. Its operations span regions including India, the Middle East, Southeast Asia and North America, and it has trained thousands of professionals from multinational organisations.
The offering is structured to attract global capital. Eligible participants are expected to include non-resident Indians, foreign portfolio investors, institutional investors and other approved international investors under IFSC regulations.
The anchor investor portion of the issue is anticipated to conclude ahead of the public subscription window.
According to the company, funds raised through the IPO will be directed towards expanding international programmes, strengthening delivery infrastructure and building deeper partnerships with academic institutions worldwide.
Management has indicated that the business is currently profitable at both EBITDA and net profit levels, which may support its expansion strategy following the listing.
A dollar-based offering provides valuation comparability with global peers and may reduce currency-related uncertainties for international investors. The structure also reflects GIFT City’s objective of positioning itself as a cross-border fundraising destination for companies with international revenue exposure.
Exchange officials have described the IPO as an important step in strengthening the IFSC’s offshore capital markets ecosystem.
Read More: Upcoming IPOs This Week (Feb 16–Feb 20): Gaudium IVF Mainboard Issue and 2 SME IPOs to Open.
The proposed IPO by XED Executive Development represents an important development for GIFT City as it moves towards establishing a functional offshore equity market. If successful, the listing could help demonstrate the viability of dollar-denominated equity fundraising from India’s IFSC while providing companies with an additional route to access international capital.
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.
Published on: Feb 18, 2026, 9:23 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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