Excelsoft Technologies IPO Day 2 Highlights: Issue booked 4.61x so far; Check subscription status, GMP - apply or not?
Excelsoft Technologies IPO Day 2 Highlights: Excelsoft Technologies has fixed its IPO price range at ₹114– ₹120 per share, with the offer open for subscription from November 19 to 21.
Excelsoft Technologies IPO Day 2 Highlights: Excelsoft Technologies, a vertical SaaS provider focused on the learning and assessment space, will open its public issue for subscription from November 19 to 21. The IPO price band is set at ₹114– ₹120 per share, valuing the company at around ₹1,380 crore at the upper end.
The IPO’s grey market premium (GMP) is ₹15, indicating that its shares are trading near ₹135, slightly above the issue price.
The ₹500-crore IPO includes plans to use ₹61.76 crore from the fresh issue to buy land and build a new facility at its Mysore campus, ₹39.51 crore for upgrading external electrical systems at the existing Mysore site, and ₹54.63 crore to enhance IT infrastructure. The remaining funds will go toward general corporate purposes.
With over two decades of experience, Excelsoft provides tech-enabled learning and assessment solutions through long-term contracts with enterprise clients worldwide.
(Stay tuned for more updates)
Excelsoft Technologies IPO Day 2 LIVE: Issue subscribed 4.61 times on second day
The mainboard IPO has been subscribed over 4.61 times on the second day of bidding, as of 1 pm.
The NIIs stole the show with 10.81 times subscription, meanwhile, retail and QIB categories were booked 4.56 times and 0.05 times.
Excelsoft Technologies IPO Day 2 LIVE: Objects of the issue
Excelsoft Technologies IPO Day 2 LIVE:
- Capex for Mysore property – Land purchase and construction of a new building.
- External electrical system upgrades at the existing Mysore unit.
- Software, hardware, communication & network improvements.
- General corporate purposes.
Excelsoft Technologies IPO Day 2 LIVE: Subscription status on second day
Excelsoft Technologies IPO Day 2 LIVE: The mainboard IPO has been subscribed over 2.60 times on the second day of bidding, as of 11:03 am.
The NIIs stole the show with 5.15 times subscription, meanwhile, retail and QIB categories were booked 2.99 times and 0.02 times.
Excelsoft Technologies IPO Day 2 LIVE: IPO Review
Excelsoft Technologies IPO Day 2 LIVE: Swastika Investmart said that the issue appears aggressively priced (P/E ~ 35), leading to a neutral rating with an expectation of only a minor listing gain.
Excelsoft Technologies IPO Day 2 LIVE: IPO details
Excelsoft Technologies IPO Day 2 LIVE: The company aims to raise ₹180 crore through a fresh issue of shares, while its promoter, Pedanta Technologies, will offload shares worth up to ₹320 crore via an offer-for-sale.
This brings the total IPO size down from the earlier proposed ₹700 crore outlined in the draft papers filed with SEBI in February. SEBI approved the company’s IPO proposal in July. The original plan was to issue new shares amounting to ₹210 crore and conduct an offer-for-sale of ₹490 crore.
Excelsoft Technologies IPO Day 2 LIVE: IPO details
Excelsoft Technologies IPO Day 2 LIVE: The company aims to raise ₹180 crore through a fresh issue of shares, while its promoter, Pedanta Technologies, will offload shares worth up to ₹320 crore via an offer-for-sale.
This brings the total IPO size down from the earlier proposed ₹700 crore outlined in the draft papers filed with SEBI in February. SEBI approved the company’s IPO proposal in July. The original plan was to issue new shares amounting to ₹210 crore and conduct an offer-for-sale of ₹490 crore.
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