After PhysicsWallah, another Edtech company is set to try its luck in the primary market. Excelsoft Technologies aims to raise Rs 500 crore through its IPO. The company, which is presenting a vertical SaaS + EdTech growth story via its IPO, is opening subscriptions on November 19. The IPO will close on November 21.
Excelsoft Technologies IPO: Price band, issue size
The company has kept the IPO price band between Rs 114-120 per equity share. The issue is a combination of 1.50 crore fresh shares, aggregating to Rs 180 crores and an offer for sale of 2.67 crore shares amounting to Rs 320 crores.
Excelsoft Technologies IPO: GMP
The grey market premium (GMP) of Excelsoft Technologies has been on a downtrend for the last four days. The stock is commanding a GMP of 12.5% today, while it was seeing a 25% GMP four days back.
Investors should be aware that the GMP is not the correct indicative listing price. The shares traded in the grey market change hands illegally.
Excelsoft Technologies IPO: Allotment and listing
The allotment for the IPO is expected to be finalised on November 24. The IPO listing on the exchanges, BSE and NSE, is likely to be on November 26, as per the tentative schedule.
Excelsoft Technologies IPO: Lot size
A retail application needs to bid for a minimum of one lot that contains 125 shares, amounting to Rs 15,000. The lot size investment for a small NII is 14 lots of 1,750 shares, aggregating to Rs 2 lakh, and for a big NII, it is 67 lots of 8,375 shares, totalling to Rs 10 lakh.
Excelsoft Technologies IPO: Book runner and registrar
Anand Rathi Advisors is the book-running lead manager for the IPO, and MUFG Intime India is working as the registrar of the issue.
Excelsoft Technologies IPO: Expert’s take
“The use of IPO proceeds to scale infrastructure, combined with its investment in AI and LLMs, positions it for significant future optionality. But the key to value creation will hinge on execution: scaling its global operations, delivering on AI-based product innovation, and managing capex effectively. Owing to strong developments, we recommend ‘Subscribe’,” said Reliance Securities in an IPO note.
About Excelsoft Technologies
Excelsoft is a global vertical SaaS company focused on the learning and assessment market. Founded in 2000, the company offers AI-powered applications, test and assessment platforms, online proctoring solutions, learning experience platforms, student success platforms, and digital eBook platforms.
The company’s SARAS LMS, including EnablED LXP and OpenPage digital books, provides customised earning support to academic institutions and corporations to cater to their training, learning, and development requirements.
