Mumbai | February 27, 2026: XED Executive Development Ltd, a leading provider of executive education, is set to launch India’s first IPO from GIFT City, the country’s International Financial Services Centre (IFSC). The dollar-denominated issue will open on March 6, 2026, and close on March 18, 2026, remaining open for subscription for nine working days.
The announcement was made by V. Balasubramaniam, Managing Director & CEO, NSE International Exchange (NSE IX), at the Global Securities Markets Conclave 2.0.
IPO Details
- Issue Size: US$ 12 million.
- Price Range: US$ 10 – 10.5 per share.
- Book Running Lead Manager: Global Horizon Capital Advisors (IFSC).
- Bankers: DBS Bank and RBL Bank.
- Registrar: KFin Technologies.
- Listing: NSE International Exchange (NSE IX) and India International Exchange (India INX) at GIFT City.
- Eligible Investors: NRIs, foreign portfolio investors, institutional investors, and other permitted overseas participants under the IFSCA framework.
Strategic Significance
This IPO marks a historic milestone as the first equity offering from GIFT City IFSC, reinforcing its emergence as a credible offshore capital-raising destination for globally oriented enterprises.
XED’s listing aligns with its international operating model, serving senior professionals across 25+ countries with a presence spanning India, the Middle East, Southeast Asia, and North America.
John Kallelil, Founder & Managing Director, XED, said: “Our decision to opt for GIFT City is strategic as we are accessing the global window for our company. We are raising capital to accelerate global program expansion, deepen university partnerships, and invest in delivery capabilities across key markets. GIFT City gives us access to international investors who understand cross-border education businesses and long-term institutional scaling. This IPO offers global investors an opportunity to participate in India’s growth story.”
Piyush Agrawal, CFO, XED, added: “This structure allows investors to evaluate XED in a globally comparable framework. Dollar-denominated listing, international disclosure standards, and access to offshore capital pools create clarity on valuation and exit mechanics. While Indian domestic IPOs are open for three days, the GIFT City IFSC IPO can remain open for up to 10 days.”
V. Balasubramaniam, MD & CEO, NSE IX, said: “XED has worked closely with our listing compliance and operations teams, and we welcome their decision to designate NSE International Exchange as the stock exchange for this offering. Scheduled to open on March 6, 2026, the IPO marks a significant milestone for the IFSC ecosystem and sets a strong precedent for globally oriented companies evaluating GIFT City.”
Vijay Krishnamurthy, MD & CEO, India INX (a BSE company), added: “This first equity IPO by XED reinforces GIFT IFSC’s emergence as a preferred global capital-raising destination. It sets a strong precedent for companies with cross-border ambitions to leverage the platform for efficient access to international investors and enhanced global visibility.”
Abhishek Kaushik, CEO, Global Horizons, said: “The success of XED IPO will set a true benchmark as many companies are already mulling offshore listings. We are confident that GIFT City can support institutional-quality issuers with real international revenue exposure.”
About XED
Founded in 2018, XED Executive Development Ltd is a global executive education platform delivering leadership and management development programs for senior professionals across India, North America, Europe, the Middle East, and Asia.
- Trained 15,000+ executives from leading global organisations and Fortune 500 companies.
- Collaborates with 17 internationally recognised academic institutions to co-develop programs in leadership, strategy, digital transformation, and emerging technologies.
- Profitable at both EBITDA and PAT levels.
- Progressing toward a proposed USD 12 million listing on NSE International Exchange at GIFT City.
About Peak XV Partners
Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, APAC, and beyond.
- Over 20 years of operations in the region.
- Manages USD 10 billion+ in capital across 16 funds.
- Invested in 450+ companies.
- Portfolio includes 35+ IPOs and several successful M&As.
🌐 Website: www.peakxv.com
