Post by : Bianca
Haleem
SaaS provider Excelsoft Technologies Ltd is poised to announce its initial public offering (IPO) allotment today, November 24, following a successful public issue that received extensive subscription. The IPO, which was open from November 19 to 21, saw strong bidding from retail, non-institutional, and qualified institutional investors.
The company has raised ₹500 crore through a mix of a fresh issue of 1.50 crore shares valued at ₹180 crore and an offer for sale (OFS) of 2.67 crore shares, totaling ₹320 crore. Priced between ₹114–120 per share, the IPO witnessed an overall subscription rate of 43.19 times, with retail investors applying 15.62 times, NIIs at 101.69 times, and QIBs at 47.55 times.
Investors can find their allotment status via the official websites of BSE, NSE, or the registrar MUFG Intime India Pvt. Ltd. Successful applicants will have their shares credited to their demat accounts on November 25, while refunds for unsuccessful bidders will be processed on the same day. The company’s stock is set to debut on BSE and NSE on November 26.
In the grey market, Excelsoft shares are showing an ₹8 premium, suggesting a potential listing price of around ₹128, approximately 7% above the IPO price. Market analysts view this as a promising sign for early investors, highlighting strong interest in the company’s SaaS offerings.
As the IPO approaches allotment, all eyes are on the listing day, which is expected to establish the tone for Excelsoft Technologies’ market entry.
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