GIFT City sees 1st IPO as XED launches $12 mn issue for NRIs, FPIs

XED Executive Development on Monday launched $12-million IPO. This is India's first IPO from International Financial Services Centre (IFSC) at GIFT City. The IPO is open to eligible overseas investors, including non-resident Indians (NRIs), foreign portfolio investors, institutional investors and other permitted international participants. The IPO will remain open for subscription until March 24.