Excelsoft Technologies IPO Day 1 LIVE: Issue booked 56% so far. GMP hints over 12% listing pop. Should you subscribe?

Excelsoft Technologies IPO Day 1 LIVE: The public offering for Excelsoft Technologies, a vertical SaaS (software-as-a-service) enterprise dedicated to the learning and assessment sector, will be open for subscriptions from November 19 until November 21. Excelsoft Technologies IPO price band has been established between ₹114 and ₹120 per share, giving the company a valuation of approximately ₹1,380 crore at the highest price point.

Excelsoft Technologies IPO GMP today is ₹15, which meant shares were trading at ₹135, just above their issue price of ₹120.

The Excelsoft Technologies IPO, amounting to ₹500 crore, plans to allocate ₹61.76 crore from the fresh issue for acquiring land and constructing a new facility at the Mysore property; ₹39.51 crore for upgrading and enhancing external electrical systems at its current Mysore location; ₹54.63 crore to support improvements to the company’s IT infrastructure, with the remainder directed towards general corporate needs.

With more than 20 years of experience, Excelsoft delivers technology-driven solutions across various learning and assessment sectors, primarily through long-term agreements with enterprise clients globally.

(Stay tuned for more updates)

Excelsoft Technologies IPO Day 1 LIVE:

Excelsoft Technologies IPO Day 1 LIVE: The company has products and services bifurcated into four business verticals, namely (a) Assessment & Proctoring Solutions, (b) Learning & Students Success Systems, (c) Educational Technology Services, and (d) Learning, Design & Content Services.

Their products are divided into two segments: Assessment & Proctoring Solutions and Learning & Student Success Systems.

Excelsoft Technologies IPO Day 1 LIVE: The company plans to generate ₹180 crore by issuing new shares, while promoter Pedanta Technologies intends to sell shares valued at up to ₹320 crore through an offer-for-sale.

The total size of the offer has been revised down from the previously planned ₹700 crore as per the draft documents submitted to SEBI in February of this year. The capital markets regulator granted approval for the IPO documents in July. The initial offer included a fresh issue of shares worth ₹210 crore, alongside an offer-for-sale of shares totaling ₹490 crore.

Excelsoft Technologies IPO Day 1 LIVE:

Excelsoft Technologies IPO Day 1 LIVE: Swastika Investmart said that the issue appears aggressively priced (P/E ~ 35), leading to a neutral rating with an expectation of only a minor listing gain.

Excelsoft Technologies IPO Day 1 LIVE: Excelsoft Technologies announced on Tuesday that it has raised ₹150 crore from anchor investors in preparation for its initial public offering (IPO). Among the anchor investors who received share allocations were Bengal Finance & Investment, 360 One Equity Opportunity Fund, GKFF Ventures, Societe Generale, Rajasthan Global Securities, BNP Paribas Financial Markets, and Bandhan Mutual Fund, as stated in a circular published on BSE's website.

According to the circular, the Karnataka-based firm has issued 1.25 crore equity shares to these investors at a price of ₹120 each.

Excelsoft Technologies IPO Day 1 LIVE: Tentatively, Excelsoft Technologies IPO basis of allotment of shares will be finalised on Monday, November 24 and the company will initiate refunds on Tuesday, November 25 while the shares will be credited to the demat account of allottees on the same day following refund. Excelsoft Technologies share price is likely to be listed on BSE and NSE on Wednesday, November 26.

Excelsoft Technologies IPO Day 1 LIVE: Excelsoft Technologies IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

Excelsoft Technologies IPO Day 1 LIVE: Excelsoft Technologies IPO GMP today is ₹15. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Excelsoft Technologies share price was indicated at ₹135 apiece, which is 12.50% higher than the IPO price of ₹120.

According to grey market activities over the past eight sessions, today's IPO GMP is showing an upward trend and is anticipated to have a robust listing. The minimum GMP recorded is ₹0.00, while the maximum GMP reaches ₹30, as per experts.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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