Xpheno targets November 2027 IPO to fund acquisitions
Xpheno plans a November 2027 IPO to fund acquisitions and global expansion. The firm targets a five percent EBITDA margin to remain competitive in the market.
The Indian staffing firm Xpheno has announced plans to launch an initial public offering (IPO) in November 2027. The company intends to utilize the proceeds from the share sale to finance strategic acquisitions and support its international expansion efforts. Founder Kamal Karanth indicated that the firm is targeting an EBITDA margin of 5% by the time it lists on the public markets in India.
Currently, Xpheno operates with an EBITDA margin of approximately 3%, which the company believes provides a competitive edge over generalized staffing firms. This target margin exceeds those of larger listed competitors, such as TEAMLEASE SERVICES LTD and QUESS CORP LTD, which reported margins of 1.41% and 2.03%, respectively, in the quarter ending December.
