XED Scraps Historic GIFT City IPO Amid Global Turmoil and Tepid Response

• Executive education platform XED withdrew its $12 million IPO, intended to be the first from GIFT City.
• The decision was prompted by a tepid response, citing the ongoing crisis in West Asia and global risk-off sentiment.
• Retail applicants faced KYC-related procedural bottlenecks, preventing many from completing bids.
• Institutional investor response was muted due to geopolitical uncertainties, leading to heightened caution.
• XED opted to withdraw to ensure fair price discovery and sustainable shareholder value, despite meeting minimum subscription.