Excelsoft Technologies IPO fully subscribed on Day 1: Check price band, lot size and key details

Excelsoft Technologies IPO: The initial public offering of Excelsoft Technologies Ltd, a vertical software-as-a-service (SaaS) company focused on the learning and assessment market, was fully subscribed on Wednesday, November 19, the first day of bidding.

The initial share sale, with a price band of ₹114 to ₹120 per share, aims to raise ₹500 crore by offering new equity shares valued at ₹180 crore and an offer for sale (OFS) of ₹320 crore by promoter Pedanta Technologies.

The company intends to use ₹61.76 crore to purchase land and construct a new building at the Mysore Property; ₹39.51 crore for upgrades, including external electrical systems of its existing Mysore facility; ₹54.63 crore to enhance the company's IT infrastructure; and the rest towards general corporate purposes.

Excelsoft Technologies IPO Day 1: Subscription details

Excelsoft Technologies IPO: Lot size

A lot consists of 125 shares. Half of the net offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Before the IPO, the company raised ₹150 from anchor investors, including Bengal Finance & Investment, GKFF Ventures, Societe Generale, Rajasthan Global Securities, 360 One Equity Opportunity Fund, Bandhan Mutual Fund and BNP Paribas Financial Markets.

Excelsoft Technologies IPO: Key dates

• Subscription period: November 19 to November 21
• Basis of allotment: November 24
• Refund initiation: November 25
• Credit of shares to Demat account: November 25
• Listing on NSE and BSE: November 26

Excelsoft offers technology-based solutions across diverse learning and assessment segments through long-term contracts with enterprise clients globally.

Some of its prominent clients are Pearson Education, Inc., Pearson Professional Assessments Ltd, Colleges of Excellence, NxGen Asia PTE LTD, AQA Education, Ascend Learning LLC, Brigham Young University–Idaho, Training Qualifications UK, Surala Net Co Ltd, Excel Public School, Sedtech for Technology Education & Learning WLL and The Chartered Quality Institute.