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News Topical, Digital Desk : The initial public offering (IPO) of Excelsoft Technologies, a global vertical SaaS company in the learning and assessment technology segment, opened today. This ₹500 crore IPO opened for subscription on Wednesday, November 19th. The Karnataka-based company raised ₹150 crore from anchor investors a day before the IPO opened.
The largest anchor investor was Bengal Finance & Investment (associated with investor Ashish Kacholia), which purchased 5 million shares for ₹60 crore. 360 ONE Equity Opportunity Fund purchased 2.083 million shares for approximately ₹25 crore.
Other anchor investors included Societe Generale, GKFF Ventures, Sanshi Fund, BNP Paribas Financial Markets, Alphamine Absolute Return Fund, Shine Star Build-Cap, and Rajasthan Global Securities. Important IPO details and price band
- Price Band: ₹114 – ₹120 per share
- Lot size: Minimum 125 shares
- Issue period: November 19–21 (three days)
Excelsoft Technologies shares are trading at a GMP (gray market premium) of ₹15 on the unlisted market today, indicating a potential listing gain of approximately 12.5% over the issue price. However, GMP is only an indicator and can change rapidly.
A look at the issue structure
- Fresh issue of ₹180 crore
- An offer-for-sale (OFS) of ₹320 crore, which is being sold by promoter Pedanta Technologies.
Use of funds raised from IPO
- ₹61.8 crore: For purchasing new land and constructing a new building in the Mysore property
- ₹39.5 crore: For upgrades and external electrical system improvements at the existing Mysore facility
- ₹54.6 crore: For IT infrastructure upgrade
Excelsoft plans to further strengthen its presence in the rapidly growing global edtech and SaaS market.
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