Excelsoft Technologies IPO: Issue subscribed 45 times on Day 03; NII, QIB portions see strong demand

Excelsoft Technologies IPO in focus: The initial public offering (IPO) of Excelsoft Technologies received a healthy response from investors during its bidding period, with the issue being subscribed over 45 times by the end of Day 3, as it attracted strong interest from institutional investors.

The Excelsoft Technologies IPO, which ran from November 19 to November 21, received bids for 132.6 crore shares against the 2.92 crore shares on offer, resulting in a subscription rate of 45.46 times.

Non-institutional investors showed strong interest, with their portion subscribed 107 times as they placed bids for 41.71 crore shares compared with the allotted 83.33 lakh shares.

The qualified institutional buyers (QIB) segment reflected similar enthusiasm, with its portion booked 50 times, while the retail quota was subscribed 16.44 times.

Excelsoft Technologies IPO Details

The ₹500 crore issue is a combination of a fresh issue of 1.50 crore shares aggregating to ₹180 crore and an offer for sale of 2.67 crore shares aggregating to ₹320 crore.

The price band has been fixed at ₹114– ₹120 per share, while the lot size is set at 125 shares, requiring a minimum investment of ₹15,000 for retail investors. The mainboard IPO is proposed to list on both the NSE and BSE, tentatively on Wednesday, November 26.

The allotment for the IPO is set to be finalized on Monday, November 24. The company will initiate refunds to non-allottees on November 25, and shares will be credited on the same day for allotted investors.

The company plans to utilize the proceeds from the issue to fund capital expenditure for a new building at the Mysore property, upgrades including external electrical systems, IT infrastructure, and general corporate purposes.

Anand Rathi Advisors Ltd. is the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.

About Excelsoft Technologies

Incorporated on June 12, 2000, Excelsoft Technologies is a global vertical SaaS company focused on the learning and assessment market. With over two decades of experience, the company provides technology-based solutions across diverse learning and assessment segments through long-term contracts with enterprise clients worldwide.

Their platforms are cloud-based, with open and industry standards-compliant APIs, ensuring scalability across organisations and users. Security and performance are core to their product offerings.

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