Excelsoft Tech IPO Debuts Today; GMP Signals Modest Listing Pop
Excelsoft Tech IPO Debuts Today; GMP Signals Modest Listing Pop
Excelsoft Technologies hits Dalal Street with a Rs 500 crore IPO; GMP hints a cautious listing, fresh funds for global expansion.
Excelsoft Technologies is set to make its Dalal Street debut today, as the education-technology company lists after a Rs 500 crore IPO that closed strong with robust demand. The issue was priced in the Rs 114-120 band, with a lot size of 125 shares, and included a fresh issue of Rs 180 crore plus an OFS of up to 2,66,66,666 equity shares worth Rs 320 crore.
The IPO was subscribed 43.19 times overall, with bids worth over Rs 15,910 crore from about 17.49 lakh applications. QIBs were subscribed 15.62 times, NIIs 101.69 times, and retail investors 47.55 times.
Ahead of listing, the grey market premium has cooled. Early unofficial GMP had ranged around Rs 8-10, even as the GMP during the bidding period stood around Rs 14-16, suggesting a potential listing pop of about 7-8% for investors.
Excelsoft, based in Mysuru, offers AI-powered learning and assessment platforms, online proctoring, learning experience platforms, and student success tools.
Proceeds from the issue are slated for expansion and upgrades. Analysts caution that valuations appear high relative to peers, so investors should align their risk tolerance with the growth outlook as the stock begins trading.
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