Excelsoft Technologies IPO Enters Final Day with Massive Investor Interest
The initial public offering of Excelsoft Technologies, a global vertical SaaS company specializing in learning and assessment solutions, has entered its final day of subscription with overwhelming response from investors. The IPO, which opened on Wednesday, November 19, will conclude tomorrow, November 21, having already demonstrated significant market appetite.
IPO Details and Financial Objectives
Excelsoft Technologies has set its IPO price band at ₹114 to ₹120 per equity share, with ambitious plans to raise approximately ₹500 crore through this public offering. The fundraising breakdown reveals that ₹180 crore will be generated through fresh share issuance, while the remaining ₹320 crore follows the offer for sale route.
The company has appointed MUFG Intime India as the official registrar for this book build issue, with Anand Rathi Advisors serving as the lead manager. The basis of allotment is scheduled for finalization on Friday, November 22, with successful applicants expected to receive their shares on Monday, November 24. Refunds for unsuccessful applicants will also be processed on the same day.
Strong Financial Performance and Global Presence
According to the Red Herring Prospectus, Excelsoft Technologies has demonstrated impressive financial growth despite some fluctuations. The company earned a profit of ₹22.41 crore in FY23, which declined to ₹12.75 crore in FY24 but rebounded strongly to ₹34.69 crore in FY25. For the period ending June 30 in the current financial year, the profit stands at ₹6 crore.
Revenue from operations has shown consistent growth, increasing from ₹195.1 crore in FY23 to ₹198.30 crore in FY24 and further to ₹233.29 crore in FY25. The company reported ₹55.72 crore in revenue for the period ending June 30 this year.
Excelsoft Technologies serves 76 clients across 19 countries as of August 31, 2025, establishing itself as a significant player in the global digital learning market.
Utilization of IPO Proceeds and Allocation Strategy
The net proceeds from the IPO will be strategically deployed for several key initiatives:
- Purchase of land and construction of new building
- Upgradation of external electrical systems in Mysore
- Enhancement of IT infrastructure
- General corporate purposes
The allocation strategy reserves 50% of the net issue for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors. The IPO lot size is set at 125 shares, with the minimum investment required by retail investors being ₹15,000 at the upper price band of ₹120 per share.
Market Response and Analyst Recommendations
The IPO has generated tremendous investor interest, with subscription reaching 156 times by the end of Day 1. The retail portion was subscribed 2.01 times, while the NII portion saw 2.60 times booking. However, the Qualified Institutional Buyers portion received only 1% bids initially.
Market sentiment remains positive, as indicated by the grey market premium of ₹15.5 on November 20, suggesting a potential debut price of ₹135.5 – representing a 12.92% premium over the issue price.
Leading brokerages have offered mixed but generally positive recommendations:
- Lakshmishree Investment recommends "Subscribe," citing the company's AI-led platforms and strong market position
- SBI Securities maintains a "Neutral" stance, noting fair valuation but muted revenue growth
- Reliance Securities assigns a "Subscribe" rating, highlighting strong financial track record and domain specialization
The company has already secured ₹150 crore from anchor investors ahead of the IPO launch on November 18. Excelsoft Technologies is scheduled to list its shares on both BSE and NSE on Wednesday, November 26, marking a significant milestone in the company's growth trajectory.
