GenXAI Analytics is set to make its market debut on the NSE SME platform on Friday, with grey market signals pointing to a subdued listing despite healthy demand during the public issue. The company's shares are commanding a grey market premium (GMP) of around 1%, implying a likely listing price of about Rs 117 against the issue price of Rs 116.
The Rs 54.8 crore IPO was entirely a fresh issue of 47.28 lakh shares, with proceeds earmarked for product development, working capital requirements, debt repayment and general corporate purposes.
The issue attracted decent investor interest, with the IPO subscribed 16.99 times overall. The non-institutional investor (NII) category led the demand, garnering subscriptions of 30.92 times, while the qualified institutional buyer (QIB) portion was booked 17.58 times.
The retail investor segment was subscribed 12.59 times. Ahead of the public issue, the company raised Rs 14.99 crore from anchor investors.
Founded in 2007, GenXAI Analytics provides enterprise performance management and analytics solutions, helping organisations improve workflow efficiency and decision-making through artificial intelligence-enabled tools.
Its offerings span enterprise performance management (EPM), enterprise resource planning (ERP), data engineering and analytics, application development and generative AI solutions. The company has also developed proprietary products including GenXAI Smart IP for invoice processing, a sales incentive compensation management platform and its GenAI Engine.
GenXAI serves clients across consumer goods, manufacturing, retail, telecom, technology and BFSI sectors. The company has operations in India, Singapore and the United States, with offices across multiple Indian cities.
The company has reported strong financial growth over the last two years. For FY25, total income stood at Rs 28.9 crore with profit after tax of Rs 6.6 crore. In the first nine months of FY26, revenue surged to Rs 64.5 crore while profit after tax doubled to Rs 13.3 crore. Its EBITDA for the nine months ended December 2025 stood at Rs 19 crore, compared with Rs 10 crore for the whole of FY25.
The stock's performance on debut will likely depend on broader sentiment toward technology and AI-related businesses, as well as investor confidence in the company's ability to sustain its recent growth trajectory.
