Edtech firm Excelsoft Technologies has launched its Initial Public Offering (IPO), open from November 19-21. The company aims to raise approximately Rs 500 crore with a price band of Rs 114-120 per share.
After the buzz around PhysicsWallah’s market debut, another edtech company, Excelsoft Technologies, is making its way to the stock exchanges. Founded by Dhananjaya Sudhanva, the company is looking to raise Rs 500 crore through its initial public offering (IPO), which opens today, November 19, and closes on November 21. Excelsoft is positioning itself as a growth opportunity in the vertical SaaS and edtech space.
Price Band and IPO Details
The IPO has been priced between Rs 114 and Rs 120 per share. It includes a fresh issue of 1.50 crore shares worth Rs 180 crore and an Offer for Sale (OFS) of 2.67 crore shares, bringing the total issue size to Rs 320 crore.
Grey Market Trends
Ahead of its market debut, the IPO’s grey market premium (GMP) stands at Rs 135, showing a 12.5% premium. This is lower than the roughly 25% premium seen earlier, reflecting investors’ cautious optimism. It’s worth noting that GMP is not a guarantee of listing price, as grey market trades happen unofficially.
Allotment and Listing Timeline
The IPO allotment is expected to be finalized by November 24, with Excelsoft likely to list on the BSE and NSE on November 26.
Who Can Invest and How Much?
- Retail investors: 1 lot of 125 shares (~Rs 15,000)
- Small NIIs: 14 lots (1,750 shares, ~Rs 2 lakh)
- Large NIIs: 67 lots (8,375 shares, ~Rs 10 lakh)
Book Runner and Registrar
Anand Rathi Advisors is managing the IPO as the book-running lead manager, while MUFG Intime India is handling the registrar duties.
Why Investors Are Watching Excelsoft
Reliance Securities has given the IPO a “Subscribe” rating, citing Excelsoft’s growth potential through investments in AI and advanced learning platforms. However, long-term success will depend on execution, including expanding global operations and developing AI-powered products.
About Excelsoft Technologies
Founded in 2000, Excelsoft is a global vertical SaaS provider in the learning and assessment space. Its portfolio includes AI-backed applications, online proctoring tools, assessment and testing platforms, digital eBooks, and learning experience platforms for educational institutions and corporate clients.