India’s XED Executive Development, which was slated to be the first company from GIFT City to go public, said on Monday it has rescheduled its new public offering to March 16 due to the ongoing conflict in the Middle East region.The global executive education platform, operating in over 25 countries, including the U.S., UAE, and Saudi Arabia, had plans to launch its IPO on March 6. The company aims to raise $12 million by listing on the NSE International Exchange and India International Exchange in GIFT City. The ongoing conflict between the U.S. and Israel against Iran has caused oil prices to surge to over $119 a barrel on Monday, rattling markets worldwide. India’s Nifty 50 index closed at a 10-month low of 24,028.05 points earlier in the day, falling about 4.6% since the beginning of the conflict. Gujarat International Finance Tec-City or GIFT City is a low-tax hub being built in the Western Indian state of Gujarat to attract foreign investment into the country.