Excelsoft Technologies IPO Listing: Saas Company’s Shares Make Decent Debut With 12% Premium

Excelsoft Technologies IPO Listing Price: Excelsoft Technologies Ltd shares listed on the NSE and BSE on November 26. Shares of the software solutions provider made a decent debut on the exchanges. Excelsoft shares listed with 12.5 per cent premium compared to the issue price.

Excelsoft shares made their debut at Rs 135 per share with gains of 12.5 per cent against the issue price of Rs 120 per share. Excelsoft shares listed at Rs 135 apiece on the BSE as well.

Retail investors who were allotted a minimum of one lot or 125shares would have gained at least Rs 1,875 (Rs 135 - Rs 120 x 125). As many as 3286.9 million shares of Excelsoft Technologies Ltd changed hands on the NSE and the total market capitalisation of the company stood at Rs 1605.65 crore.

Excelsoft Technologies IPO: Details

Excelsoft Technologies Ltd raised Rs 500 crore through its public issue. The software solutions provider’s public issue consisted of a fresh issue of 15 million shares and an offer for sale of 26.7 million shares.

The minimum lot size for application for retail investors was fixed at 1 lot comprising 125 shares, which aggregated to an investment of Rs 15,000. Excelsoft IPO saw strong demand in its three-day subscription window. Excelsoft IPO was subscribed 43.19 times across categories. As many as 1325.9 million shares of Excelsoft were bid for against the 30.7 million shares offered for subscription.

In the three-day bidding window, non-institutional investors led the demand for Excelsoft Technologies shares, booking their quota 101.69 times. On the other hand, qualified institutional buyers and retail individual investors booked their quota 47.55 times and 15.62 times respectively.

Excelsoft IPO: Objective

Excelsoft Technologies Ltd plans to use the proceeds for its capital expenditure needs such as buying land and constructing a new building at its Mysore property, upgrading its external electrical systems and IT infrastructure. The software solutions provider will also use the proceeds for the general corporate purposes.

Excelsoft: Business Model

Excelsoft Technologies is a provider of vertical Software-as-a-Service (SaaS) based solutions and caters to the global learning and assessment (EdTech) market. The company generates revenue by providing technology-based solutions and related services through long-term contracts with enterprise clients across the globe.

Excelsoft Technologies: Peers

Excelsoft Technologies’ business operates in the highly competitive EdTech vertical and SaaS market. Excelsoft Technologies’ peers include other listed Indian tech companies and specialized global EdTech/assessment solution providers. Some of the key competitors include Prometric, Renaissance, Instructure (Canvas) and Blackboard (now part of Anthology). Some of the company’s indirect listed peers include MPS Ltd, Ksolves India Ltd, Silver Touch Technologies Ltd and InfoBeans Technologies Ltd and NIIT Ltd.

At the time of writing, Excelsoft Technologies shares traded at Rs 139.40 apiece up by 2.8 per cent on the NSE. Excelsoft shares traded at Rs 135.15 apiece on the BSE up by 0.11 per cent.