Excelsoft Technologies, a SaaS-based solutions provider, will open its ₹500-crore initial public offering (IPO) on Wednesday, November 19. The issue includes a fresh offering of around 1.50 crore shares to raise ₹180 crore, along with an offer for sale (OFS) of 2.67 crore shares worth ₹320 crore.
IPO GMP: As per grey market indications on November 18, the IPO carried a premium of ₹16, suggesting a possible listing gain of roughly 13% over the issue price.
Key IPO Details:
- Price Band: The company has set the price range at ₹114–₹120 per share.
- Reservation: Half of the net issue is earmarked for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional investors.
- Lot Size: Investors must apply for a minimum of one lot consisting of 125 shares. At the upper price band, the minimum investment comes to ₹15,000. Retail investors can apply for up to 13 lots, amounting to ₹1,95,000.
With the issue closing on Friday, November 21, share allotment is likely on Monday, November 24, with credited shares and refunds processed on November 25. The stock is scheduled to debut on the NSE and BSE on Wednesday, November 26.
Use of Proceeds: The funds will support land purchase, construction of a new facility, electrical upgrades in Mysore, IT improvements, and general corporate needs.
Financials: The company reported profits of ₹22.41 crore in FY23, which dipped to ₹12.75 crore in FY24 before recovering sharply to ₹34.69 crore in FY25. For the quarter ended June 30 of the current financial year, profit stood at ₹6 crore.
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