XED Executive Development files DRHP for IPO at GIFT City

Mumbai, 20 August 2025: Mumbai-based XED Executive Development Ltd has filed its Draft Red Herring Prospectus (DRHP) with both NSE-IX and India INX, marking the first equity IPO at the GIFT International Financial Services Centre (IFSC) in Gujarat. The listing aims to attract global investors while providing the company with capital to expand its executive education offerings internationally.

IPO Size $12 Million with $9.6 Million Fresh Issue and $2.4 Million Offer-for-Sale by Promoters

XED’s proposed IPO includes a fresh issue of $9.6 million and an offer-for-sale (OFS) of $2.4 million by promoter shareholders John Kallelil John and Meenu John. Of the total proceeds, $1.8 million will be invested in technology infrastructure, $2.4 million allocated for working capital, $1.2 million to cover IPO-related expenses, and $4.4 million earmarked for general corporate purposes, including potential acquisitions. Global Horizons is the book running lead manager, while KFin Technologies will act as registrar for the offer.

Strong International Footprint Drives 15% YoY Revenue Growth to $4.59 Million in FY25

In FY25, XED Executive Development reported revenue of $4.59 million, up approximately 15% from the previous year. About 54% of revenues were generated from Singapore, 41% from India, 3.4% from Saudi Arabia, and 2% from the US. Revenue streams include public programmes priced between $4,500 and $28,000 and custom institutional programmes. Partnerships with institutions such as Cornell University contribute significantly to revenues, with top corporate clients including Government of Maharashtra, JSW, Bank of America, and Kotak Mahindra Bank Ltd.

About the Company: Mumbai-headquartered Global Executive Education Leader Expanding Through Ivy League Partnerships

Founded in 2018 by John Kallelil John, XED Executive Development Ltd is a global executive education platform with operations in Singapore, the US, Abu Dhabi, and Saudi Arabia. The company designs and delivers leadership programmes for senior professionals, offering in-person, live online, and hybrid learning models. Its collaborations with Ivy League and other world-renowned universities position XED as a cross-border leader in outcomes-focused executive education for CXOs and senior business leaders.

Strategic Impact: GIFT IFSC Listing Opens Global Capital Access for Indian Education Firms

The DRHP filing signals a new chapter for the GIFT City ecosystem under IFSCA’s regulatory framework, offering Indian companies, particularly in technology and sunrise sectors, a platform to raise capital from international investors. XED’s IPO aligns with its growth strategy, expanding global faculty access, deepening corporate partnerships, and venturing into emerging executive verticals such as AI governance, digital transformation, and board leadership.

Disclaimer : This content is for informational purpose. It does not make any recommendation to act or invest.