Excelsoft Technologies IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Nov 19 to Nov 21 2025
Price Band
₹114 - 120
Current GMP
₹135.0 (+12.50%)
Subscription
45.46 times
IPO Details
| IPO Date | November 19, 2025 to November 21, 2025 |
| Listing Date | November 26, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹114 to ₹120 per share |
| Issue Price Final | ₹120 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 4,16,66,666 shares (aggregating up to ₹500.00 Cr) |
| Fresh Issue | 1,50,00,000 shares (aggregating up to ₹180.00 Cr) |
| Offer for Sale | 2,66,66,666 shares of ₹10 (aggregating up to ₹320.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 10,00,84,164 shares |
| Share Holding Post Issue | 11,50,84,164 shares |
IPO Date
November 19, 2025 to November 21, 2025
Listing Date
November 26, 2025
Face Value
₹10 per share
Issue Price Band
₹114 to ₹120 per share
Issue Price Final
₹120 per share
Lot Size
125 Shares
Sale Type
Fresh Capital-cum-Offer for Sale
Total Issue Size
4,16,66,666 shares (aggregating up to ₹500.00 Cr)
Fresh Issue
1,50,00,000 shares (aggregating up to ₹180.00 Cr)
Offer for Sale
2,66,66,666 shares of ₹10 (aggregating up to ₹320.00 Cr)
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
10,00,84,164 shares
Share Holding Post Issue
11,50,84,164 shares
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 50.06 |
| Non-Institutional Buyers | 107.04 |
| bNII (bids above ₹10L) | 122.93 |
| sNII (bids below ₹10L) | 75.25 |
| Retail Investors | 16.44 |
| Total ** | 45.46 |
Anchor Investors
1
QIB (Ex Anchor)
50.06
Non-Institutional Buyers
107.04
bNII (bids above ₹10L)
122.93
sNII (bids below ₹10L)
75.25
Retail Investors
16.44
Total **
45.46
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Nov 19, 2025 | 0.01 | 2.60 | 2.02 | 3.76 | 2.01 | 1.56 |
| Day 2 Nov 20, 2025 | 0.09 | 19.23 | 19.25 | 19.21 | 6.34 | 7.32 |
| Day 3 Nov 21, 2025 | 50.06 | 107.04 | 122.93 | 75.25 | 16.44 | 45.46 |
DayDay 1
Nov 19, 2025
QIB (Ex Anchor)0.01
NII2.60
NII (> ₹10L)2.02
NII (< ₹10L)3.76
Retail2.01
Total1.56
DayDay 2
Nov 20, 2025
QIB (Ex Anchor)0.09
NII19.23
NII (> ₹10L)19.25
NII (< ₹10L)19.21
Retail6.34
Total7.32
DayDay 3
Nov 21, 2025
QIB (Ex Anchor)50.06
NII107.04
NII (> ₹10L)122.93
NII (< ₹10L)75.25
Retail16.44
Total45.46
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 26-11-2025 | 120.00 | 4(3.33%) | 124 |
| 25-11-2025 | 120.00 | 7(5.83%) | 127 |
| 24-11-2025 | 120.00 | 6(5.00%) | 126 |
| 23-11-2025 | 120.00 | 8(6.67%) | 128 |
| 22-11-2025 | 120.00 | 8(6.67%) | 128 |
| 21-11-2025 | 120.00 | 8(6.67%) | 128 |
| 20-11-2025 | 120.00 | 14(11.67%) | 134 |
| 19-11-2025 | 120.00 | 15.5(12.92%) | 135.5 |
| 18-11-2025 | 120.00 | 15(12.50%) | 135 |
| 17-11-2025 | 120.00 | 16(13.33%) | 136 |
| 16-11-2025 | 120.00 | 20(16.67%) | 140 |
| 15-11-2025 | 120.00 | 30(25.00%) | 150 |
| 14-11-2025 | 120.00 | 0(0.00%) | 120 |
| 13-11-2025 | 120.00 | 0(0.00%) | 120 |
| 12-11-2025 | 0(%) | (%) |
Date26-11-2025
Price120.00
GMP4(3.33%)
Estimate List Price124
Date25-11-2025
Price120.00
GMP7(5.83%)
Estimate List Price127
Date24-11-2025
Price120.00
GMP6(5.00%)
Estimate List Price126
Date23-11-2025
Price120.00
GMP8(6.67%)
Estimate List Price128
Date22-11-2025
Price120.00
GMP8(6.67%)
Estimate List Price128
Date21-11-2025
Price120.00
GMP8(6.67%)
Estimate List Price128
Date20-11-2025
Price120.00
GMP14(11.67%)
Estimate List Price134
Date19-11-2025
Price120.00
GMP15.5(12.92%)
Estimate List Price135.5
Date18-11-2025
Price120.00
GMP15(12.50%)
Estimate List Price135
Date17-11-2025
Price120.00
GMP16(13.33%)
Estimate List Price136
Date16-11-2025
Price120.00
GMP20(16.67%)
Estimate List Price140
Date15-11-2025
Price120.00
GMP30(25.00%)
Estimate List Price150
Date14-11-2025
Price120.00
GMP0(0.00%)
Estimate List Price120
Date13-11-2025
Price120.00
GMP0(0.00%)
Estimate List Price120
Date12-11-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Wed, Nov 19, 2025 |
| IPO Close Date | Fri, Nov 21, 2025 |
| Tentative Allotment | Mon, Nov 24, 2025 |
| Initiation of Refunds | Tue, Nov 25, 2025 |
| Credit of Shares to Demat | Tue, Nov 25, 2025 |
| Tentative Listing Date | Wed, Nov 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 21, 2025 |
IPO Open Date
Wed, Nov 19, 2025
IPO Close Date
Fri, Nov 21, 2025
Tentative Allotment
Mon, Nov 24, 2025
Initiation of Refunds
Tue, Nov 25, 2025
Credit of Shares to Demat
Tue, Nov 25, 2025
Tentative Listing Date
Wed, Nov 26, 2025
Cut-off time for UPI mandate confirmation
5 PM on Fri, Nov 21, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (Min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (Max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (Min) | 67 | 8,375 | ₹10,05,000 |
ApplicationRetail (Min)
Lots1
Shares125
Amount₹15,000
ApplicationRetail (Max)
Lots13
Shares1,625
Amount₹1,95,000
ApplicationS-HNI (Min)
Lots14
Shares1,750
Amount₹2,10,000
ApplicationS-HNI (Max)
Lots66
Shares8,250
Amount₹9,90,000
ApplicationB-HNI (Min)
Lots67
Shares8,375
Amount₹10,05,000
Financial Information
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
| Assets | 478.34 | 470.49 | 421.03 |
| Total Income | 60.28 | 248.80 | 200.70 |
| Profit After Tax | 6.01 | 34.69 | 12.75 |
| EBITDA | 10.18 | 73.26 | 54.97 |
| NET Worth | 375.95 | 371.29 | 297.30 |
| Reserves and Surplus | 274.25 | 269.66 | 295.71 |
| Total Borrowing | 37.82 | 26.59 | 76.73 |
Period EndedPeriod Ended
30 Jun 202530 Jun 2025
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
Period EndedAssets
30 Jun 2025478.34
31 Mar 2025470.49
31 Mar 2024421.03
Period EndedTotal Income
30 Jun 202560.28
31 Mar 2025248.80
31 Mar 2024200.70
Period EndedProfit After Tax
30 Jun 20256.01
31 Mar 202534.69
31 Mar 202412.75
Period EndedEBITDA
30 Jun 202510.18
31 Mar 202573.26
31 Mar 202454.97
Period EndedNET Worth
30 Jun 2025375.95
31 Mar 2025371.29
31 Mar 2024297.30
Period EndedReserves and Surplus
30 Jun 2025274.25
31 Mar 2025269.66
31 Mar 2024295.71
Period EndedTotal Borrowing
30 Jun 202537.82
31 Mar 202526.59
31 Mar 202476.73
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|---|
| Excelsoft Technologies Limited | 3.47 | 3.47 | 37.10 | 10.38 | ||
| Mps Limited | 87.80 | 87.73 | 279.69 | 26.17 | 31.74 | 10.21 |
| Ksolves India Limited | 14.47 | 14.47 | 17.51 | 22.42 | 153.95 | 25.65 |
| Silver Touch Technologies Limited | 17.50 | 17.50 | 105.48 | 41.07 | 18.00 | 6.02 |
| Sasken Technologies Limited | 33.30 | 33.04 | 531.24 | 42.19 | 6.36 | 2.94 |
| Infobeans Technologies Limited | 15.59 | 15.51 | 136.34 | 32.54 | 12.09 | 2.14 |
Company NameExcelsoft Technologies Limited
EPS (Basic)3.47
EPS (Diluted)3.47
NAV (per share) (Rs)37.10
P/E (x)
RoNW (%)10.38
P/BV Ratio
Company NameMps Limited
EPS (Basic)87.80
EPS (Diluted)87.73
NAV (per share) (Rs)279.69
P/E (x)26.17
RoNW (%)31.74
P/BV Ratio10.21
Company NameKsolves India Limited
EPS (Basic)14.47
EPS (Diluted)14.47
NAV (per share) (Rs)17.51
P/E (x)22.42
RoNW (%)153.95
P/BV Ratio25.65
Company NameSilver Touch Technologies Limited
EPS (Basic)17.50
EPS (Diluted)17.50
NAV (per share) (Rs)105.48
P/E (x)41.07
RoNW (%)18.00
P/BV Ratio6.02
Company NameSasken Technologies Limited
EPS (Basic)33.30
EPS (Diluted)33.04
NAV (per share) (Rs)531.24
P/E (x)42.19
RoNW (%)6.36
P/BV Ratio2.94
Company NameInfobeans Technologies Limited
EPS (Basic)15.59
EPS (Diluted)15.51
NAV (per share) (Rs)136.34
P/E (x)32.54
RoNW (%)12.09
P/BV Ratio2.14
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,08,33,333 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,24,99,999 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 83,33,334 (20.00%) | NA |
| NII (HNI) Shares Offered | 62,50,000 (15.00%) | NA |
| − bNII > ₹10L | 41,66,667 (10.00%) | 2,380 |
| − sNII < ₹10L | 20,83,333 (5.00%) | 1,190 |
| Retail Shares Offered | 1,45,83,333 (35.00%) | 1,16,666 |
| Total Shares Offered | 4,16,66,666 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered2,08,33,333 (50.00%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered1,24,99,999 (30.00%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered83,33,334 (20.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered62,50,000 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered41,66,667 (10.00%)
Maximum Allottees2,380
Investor Category− sNII < ₹10L
Shares Offered20,83,333 (5.00%)
Maximum Allottees1,190
Investor CategoryRetail Shares Offered
Shares Offered1,45,83,333 (35.00%)
Maximum Allottees1,16,666
Investor CategoryTotal Shares Offered
Shares Offered4,16,66,666 (100.00%)
Maximum Allottees
Information about company
Founded in 2000, Excelsoft Technologies Limited is a global vertical SaaS company specialising in the learning and assessment market. The company provides AI-powered applications, test and assessment platforms, online proctoring solutions, learning experience platforms, student success platforms, and digital eBook platforms.
The company's SARAS LMS, including EnablED LXP and OpenPage digital books, offer tailored learning support for academic institutions and corporations, addressing their training, learning, and development needs.
Excelsoft serves a diverse range of clients, including educational publishers, universities, schools, government agencies, defence organisations, and businesses.
With operations in India, Malaysia, Singapore, the UK, and the USA, the company collaborates with over 200 organisations and impacts more than 30 million learners worldwide.
Some of its prominent and long-standing clients include Pearson Education, Inc., AQA Education, Colleges of Excellence, NxGen Asia PTE LTD., Pearson Professional Assessments Limited, Sedtech for Technology Education & Learning WLL, Ascend Learning LLC, Brigham Young University – IDAHO and more.
As of June 30, 2025, Excelsoft has a team of 1,118 employees.
Product Segments
Assessment & Proctoring Solutions
SARAS e-Assessments
EasyProctor
Learning & Student Success Systems
SARAS Learning Solutions
OpenPage
EnablED
CollegeSparc
LearnActiv - K12 Learning Solutions
Competitive Strength
Expertise in product engineering, development and implementation across assessments, digital learning & information management systems with robust product capabilities.
Long-term relationships with global customers.
Expertise in delivering fully compliant digital learning and assessment solutions to clients globally.
Flexibility to work with diversified technologies to provide the right-fit solution, driven by agile methodologies.
Robust Operating Parameters.
Experienced Management Team and Promoters with expertise in developing products.
Objectives of IPO
The Company Excelsoft Technologies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Funding of capital expenditure for purchase of land and construction of new building at the Mysore Property.
61.77
2
Funding expenditure for upgradation including external electrical systems of the Existing Facility at Mysore, India.
39.51
3
Funding upgradation of the Company’s IT Infrastructure (Software, Hardware and Communications & Network Services).
54.64
4
General Corporate Purposes.
8.98
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