XED Executive Development, which is aspiring to be the first company from GIFT City, India’s International Financial Services Centre (IFSC), to launch an IPO, has rescheduled the opening of its IPO to March 16, and the issue will close on March 24, 2026.

The prevailing uncertainties in the Gulf region have led to the decision to reschedule the date of opening from March 6, the company said and added that it has received the necessary approvals from GIFT City- IFSC authorities as well as listing exchanges. The shares will be listed on NSE International Exchange (NSE IX) and India International Exchange (India INX) at GIFT City

John Kallelil, Founder and Managing Director, XED, said, “In view of recent geopolitical developments, we have adjusted the opening and closing timeline of our maiden IPO through GIFT City. We remain confident about the offering and are committed to concluding the process successfully within this month.”

Global Horizon Capital Advisors (IFSC) is the sole Book Running Lead Manager to the issue, and DBS Bank and RBL Bank are the bankers. KFin Technologies is the registrar for the issue. The offering marks a historic milestone as the first IPO to open from GIFT City, India’s International Financial Services Centre.

The IPO is open to eligible investors under the International Financial Services Centres Authority (IFSCA) framework, including Non-Resident Indians (NRIs), foreign portfolio investors, institutional investors, and other permitted overseas participants. The shares will be traded in a dollar-denominated instrument.

The company’s listing aligns with its international operating model, serving senior professionals across more than 25 countries with a presence spanning India, the Middle East, Southeast Asia, and North America.

A Defining Moment for GIFT City’s Capital Markets Platform:

XED’s IPO adds a significant step in the evolution of GIFT City IFSC as a credible offshore capital-raising destination for enterprises with global ambitions.

Global Investor Access Through Dollar-Denominated Framework

The IPO operates within GIFT City’s International Financial Services Framework, overseen by IFSCA. It allows eligible investors to participate through a dollar-denominated platform, facilitating foreign currency investments and exits.

Institutional Momentum and Anchor Participation:

“Even as global uncertainties are leading to turmoil in many countries, the Indian economy presents a very strong resilience, and this provides an excellent opportunity for global investors to invest their funds in the GIFT City platform”, said Abhishek Kaushik, CEO, Global Horizons, book-running lead managers to the issue.  The current global environment is very conducive for investment in Indian corporates and Indian capital markets, he added.