Excelsoft Technologies IPO Day 1: The initial public offering (IPO) of Excelsoft Technologies sailed through on the first day of the bidding process on Wednesday, November 19, amid strong demand from non-institutional investors (NIIs) and retail investors.
Excelsoft Technologies IPO is open for bidding till November 21, offering investors two more days to place their bids. Analysts, however, remain largely neutral to the ₹500-crore IPO.
Excelsoft Technologies IPO Subscription Status
Excelsoft Technologies IPO was subscribed 1.45 times on the first day of the book-building process, garnering bids for 4,45,67,750 shares as against 3,07,01,754 shares on offer.
The retail portion was booked 1.85 times, the NII quota 2.45 times and the qualified institutional buyer (QIB) segment 0.01 times.
Excelsoft Technologies IPO GMP
Excelsoft Technologies IPO grey market premium (GMP) fell to ₹14 today. This means that shares of Excelsoft Technologies are trading ₹14 above the upper end of the price band.
At the current GMP, Excelsoft Technologies IPO listing price could be ₹134, a premium of 11.7%. The GMP for Excelsoft Technologies IPO rose to a high of ₹30 and fell to a low of ₹0.
Excelsoft Technologies IPO Details
Ahead of the offer opening today, Excelsoft Technologies garnered ₹150 crore from anchor investors.
Meanwhile, Excelsoft Technologies IPO price band has been set at ₹114 to ₹120 per share, valuing the company at around ₹1,380 crore at the upper end.
The IPO is a mix of a fresh issue of equity shares aggregating up to ₹180 crore and an offer for sale of shares aggregating up to ₹320 crore by the promoter — Pedanta Technologies Pvt Ltd.
Proceeds from the fresh issue, worth ₹61.76 crore, will be allocated for purchasing land and constructing a new building at the Mysore property, and ₹39.51 crore is earmarked for upgrading the existing Mysore facility, including enhancements to external electrical systems.
Additionally, the company plans to use funds worth ₹54.63 crore for funding the upgradation of the company’s IT Infrastructure, and the balance towards general corporate purposes.
Investors can apply for the IPO in lots of 125 shares. Shares of the company are slated to list on both BSE and NSE, with the tentative listing date fixed as November 26.
With over two decades of experience, Excelsoft delivers technology-driven solutions across diverse learning and assessment segments through long-term partnerships with enterprise clients worldwide.
The Karnataka-based company actively integrates artificial intelligence (AI) into its products and services. This includes developing proprietary and hybrid large language models (LLMs), creating device-specific small LLMs, and deploying AI agents that enhance user experience across both learning and assessment platforms.
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