XED Executive Development Files First Equity IPO DRHP at GIFT IFSC

Mumbai-based XED Executive Development Ltd has filed the first Draft Red Herring Prospectus (DRHP) for an equity IPO at GIFT IFSC in Gujarat. The company, founded by John Kallelil John in 2018, operates as a global executive education provider with presence in Singapore, the US, Abu Dhabi, and Saudi Arabia.

The IPO targets $12 million, comprising a fresh issue of $9.6 million and an offer-for-sale of $2.4 million by the promoter. Net proceeds will allocate $1.8 million to technology capex, $2.4 million to working capital, $1.2 million to IPO costs, and $4.4 million to general corporate purposes including unidentified acquisitions.

NSE IX confirmed receipt of the DRHP, affirming its commitment to governance standards as the designated exchange. This marks a milestone for GIFT IFSC's direct listing framework.