The Excelsoft Technologies Initial Public Offering (IPO), a book-built issue aiming to raise approximately ₹500.00 crores, is set to open on November 19, 2025, and will conclude on November 21, 2025. The price band for the equity shares, which have a face value of ₹10 each, has been established at ₹114 to ₹120 per share. The total issue size consists of a Fresh Issue of ₹180.00 crores and an Offer for Sale (OFS) of up to 2,66,66,666 equity shares. This structure allocates the issue among investor categories with a QIB (Qualified Institutional Buyer) quota of 50%, a Retail quota of 35%, and an HNI (High Net Worth Individual) quota of 15%.
The company’s recent financial performance provides a strong foundation for the public offering. In Fiscal Year 2025, the company demonstrated robust growth, with revenue surging to ₹248.80 crores from ₹200.70 crores in FY 2024. Critically, the Profit After Tax (PAT) showed a significant increase, leaping to ₹34.69 crores in FY 2025 compared to ₹12.75 crores in the preceding year. This substantial improvement in profitability highlights the scalability and operational efficiency of the company’s Vertical SaaS model in the EdTech (Education Technology) sector. The Allotment Date is slated for November 24, 2025, followed by the Listing Date on the BSE and NSE on November 26, 2025.
Table of contents
- Excelsoft Technologies IPO Date & Price Band Details
- Excelsoft Technologies IPO Market Lot
- Excelsoft Technologies IPO Reservation
- Excelsoft Technologies IPO Anchor Investors
- Excelsoft Technologies IPO Allotment & Listing Dates
- Excelsoft Technologies IPO: Promoters and Holding Pattern
- Objects of the Issue & Utilisation of proceeds – Excelsoft Technologies IPO
- Excelsoft Technologies IPO Company Financial Report
- Excelsoft Technologies IPO Valuation – FY2025
- Excelsoft Technologies IPO Peer Group Comparison
- Excelsoft Technologies Company Overview, Key Points, Strengths, and Risks
- IPO Lead Managers aka Merchant Bankers
- Excelsoft Technologies IPO Registrar
- Excelsoft Technologies Company Address
- FAQs about Excelsoft Technologies IPO
Excelsoft Technologies IPO Date & Price Band Details
The Excelsoft Technologies IPO, a Bookbuilding Issue, opens from November 19 to November 21, 2025. Set to raise approximately ₹500.00 Crores, the offering includes a ₹180.00 Cr. Fresh Issue and a significant Offer for Sale. The IPO Price Band is ₹114 to ₹120 per share. Listing is scheduled on the BSE and NSE, marking a key event for the EdTech SaaS sector.
| IPO Details | Details |
|---|---|
| IPO Open Date | November 19, 2025 |
| IPO Close Date | November 21, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹114 to ₹120 Per Share |
| Issue Size | Approx ₹500.00 Crores |
| Fresh Issue | Approx ₹180.00 Crores |
| Offer for Sale: | Approx ₹2,66,66,666 Equity Shares |
| Issue Type | Bookbuilding Issue |
| IPO Listing | BSE, NSE |
| DRHP Draft Prospectus | Click Here |
| RHP Draft Prospectus | Click Here |
Excelsoft Technologies IPO Market Lot
Investors can apply for the Excelsoft Technologies IPO starting with a Minimum Retail Lot of 125 shares for ₹15,000. The maximum bid for Retail Investors is capped at 13 lots (1,625 shares). HNI (High Net Worth Individual) applicants have categories split into S-HNI (Small) with a minimum investment of ₹2,10,000 (14 lots) and B-HNI (Big) starting from ₹10,05,000 (67 lots) to target their respective allotment quotas.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 125 | ₹15,000 |
| Retail Maximum | 13 | 1,625 | ₹1,95,000 |
| S-HNI Minimum | 14 | 1,750 | ₹2,10,000 |
| S-HNI Maximum | 66 | 8,250 | ₹9,90,000 |
| B-HNI Minimum | 67 | 8,375 | ₹10,05,000 |
The Excelsoft Technologies IPO Subscription Status will be updated after the bidding process begins on Nov 19, 2025.
Excelsoft Technologies IPO Reservation
The Excelsoft Technologies IPO reserves 50% of the Net Offer for QIB (Qualified Institutional Buyers, excluding Anchor Investors), showcasing high interest from institutional investors in the EdTech SaaS growth story. Retail Investors are allotted 35%, providing significant participation scope. The remaining 15% is dedicated to NII (Non-Institutional Investors, or HNIs), ensuring a balanced and broad investor base for the book-built issue.
| Investor Category | Share Offered | Shares |
|---|---|---|
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | -% | 50% |
| NII Shares Offered | -% | 15% |
| Retail Shares Offered | -% | 35% |
Excelsoft Technologies IPO Anchor Investors
Anchor Bidding Date is scheduled for November 18, 2025, with shares offered and anchor size to be announced. The lock-in period ends on December 24, 2025 for 50% shares and on February 22, 2026 for the remaining 50%, ensuring strong investor stability.
| Anchor Event | Date |
|---|---|
| Anchor Bidding Date | November 18, 2025 |
| Shares Offered | [.] Shares |
| Anchor Size | – Cr. |
| lock-in period end date 50% shares (30 Days) | December 24, 2025 |
| lock-in period end date 50% shares (90 Days) | February 22, 2026 |
Excelsoft Technologies IPO Allotment & Listing Dates
The Excelsoft Technologies IPO subscription window is open from November 19 to November 21, 2025 (bidding cut-off is 5 PM). Following the application period, the Basis of Allotment will be finalized on November 24. Successful investors will see shares Credit to Demat on November 25, just before the official IPO Listing Date on BSE and NSE on November 26, 2025.
| Event | Date |
|---|---|
| IPO Open Date: | November 19, 2025 |
| IPO Close Date: | November 21, 2025 |
| Basis of Allotment: | November 24, 2025 |
| Refunds: | November 25, 2025 |
| Credit to Demat Account: | November 25, 2025 |
| IPO Listing Date: | November 26, 2025 |
| IPO Bidding Cut-off Time: | November 21, 2025 – 5 PM |
Excelsoft Technologies IPO: Promoters and Holding Pattern
The Promoter Group for Excelsoft Technologies includes Pedanta Technologies Private Limited, Dhananjaya Sudhanva, Lajwanti Sudhanva, and Shruthi Sudhanva. Their collective holding stood at a high 94.60% of the total equity pre-issue. Following the IPO (which includes a significant Offer for Sale), the Promoter Holding Post Issue is expected to be diluted to approximately 59.09% (based on the upper price band), ensuring continued majority control and management stability for this EdTech SaaS company.
| Particular | Shares | Share |
|---|---|---|
| Promoter Holding Pre Issue | 10,00,84,164 | 94.60% |
| Promoter Holding Post Issue | 11,50,84,164 | -% |
Objects of the Issue & Utilisation of proceeds – Excelsoft Technologies IPO
The IPO’s Objects of the Issue include ₹71.97 Cr for land purchase and a new building at the Mysore Property, ₹39.51 Cr for facility upgradation, and ₹54.64 Cr for enhancing IT infrastructure. Remaining funds will be used for general corporate purposes, supporting overall business growth.
| Purpose | Crores |
|---|---|
| Funding of capital expenditure for purchase of land and construction of new building at the Mysore Property. | ₹71.97 |
| Funding expenditure for upgradation including external electrical systems of our Existing Facility at Mysore, India. | ₹39.51 |
| Funding upgradation of our Company’s IT Infrastructure (Software, Hardware and Communications & Network Services). | ₹54.64 |
| General Corporate Purposes. | ₹- |
Excelsoft Technologies IPO Company Financial Report
The company shows steady growth with rising revenue, improving PAT, and strong assets. Revenue increased from ₹197.97 Cr (2023) to ₹248.80 Cr (2025), while PAT rose to ₹34.69 Cr. As of June 2025, revenue reached ₹60.28 Cr with assets at ₹478.34 Cr, reflecting solid financial performance.
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹197.97 | ₹167.79 | ₹22.41 | ₹436.13 |
| 2024 | ₹200.70 | ₹182.38 | ₹12.75 | ₹421.03 |
| 2025 | ₹248.80 | ₹1,89.26 | ₹34.69 | ₹470.49 |
| June 2025 | ₹60.28 | ₹52.49 | ₹6.01 | ₹478.34 |
Excelsoft Technologies IPO Valuation – FY2025
Key financial KPIs reflect strong performance, with ROE at 10.38%, ROCE at 16.11%, and a healthy EBITDA Margin of 31.40%. The company maintains a low debt-to-equity ratio of 0.05 and EPS of 3.47, supported by a solid NAV of ₹37.10, indicating financial stability.
| KPI | Values |
|---|---|
| ROE: | 10.38% |
| ROCE: | 16.11% |
| EBITDA Margin: | 31.40% |
| PAT Margin: | 14.87% |
| Debt to equity ratio: | 0.05 |
| Earning Per Share (EPS): | 3.47(Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 10.38% |
| Net Asset Value (NAV): | ₹37.10 |
Excelsoft Technologies IPO Peer Group Comparison
The peer group comparison highlights strong industry benchmarks. Companies like MPS Ltd with EPS 87.80 and RoNW 31.74%, and Ksolves India with RoNW 153.95%, showcase robust performance. Firms such as Silver Touch, Sasken, and InfoBeans also report healthy PE ratios, NAV, and income, indicating competitive sector growth.
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| MPS Ltd | 87.80 | 26.17 | 31.74% | 279.69 | 726.88 Cr. |
| Ksolves India Ltd | 14.47 | 22.42 | 153.95% | 17.51 | 137.43 Cr. |
| Silver Touch Technologies Ltd | 17.50 | 41.07 | 18.00% | 105.48 | 288.38 Cr. |
| Sasken Technologies Ltd | 33.30 | 42.19 | 6.36% | 531.24 | 550.91 Cr. |
| InfoBeans Technologies Ltd | 15.59 | 32.54 | 12.09% | 136.34 | 394.78 Cr. |
Excelsoft Technologies Company Overview, Key Points, Strengths, and Risks
Excelsoft Technologies is a global vertical SaaS (Software-as-a-Service) company specializing in the EdTech (Education Technology) learning and assessment market. It provides AI-enabled, cloud-based platforms and digital solutions to academic institutions, corporations, government bodies, and certification agencies worldwide.
Key Points and Overview
- Core Business: Provides an integrated suite of AI-driven, proprietary products covering the entire learning and assessment lifecycle.
- Key Products:
- SARAS e-Assessment: A secure, cloud-based platform for test and assessment delivery.
- EasyProctor: An AI-powered remote proctoring solution to ensure exam integrity.
- OpenPage: A digital publishing and content delivery platform for interactive e-books.
- SARAS Learning Solutions and EnablED LXP (Learning Experience Platform): For online course delivery, learner management, and performance tracking.
- Clientele & Reach: Serves a global client base, including major educational publishers like Pearson Education Group, and various universities, government bodies, and professional certification agencies across 19 countries (including the USA, UK, and India).
- Financial Health (FY25): Demonstrated strong financial turnaround with a ~172% surge in Profit After Tax (PAT) and healthy EBITDA margins (approx. 31.4%). The company has a low debt-to-equity ratio (approx. 0.05).
Strengths
- High-Growth Vertical Focus: Operates in the niche, high-growth segment of EdTech, specifically in mission-critical online assessment and learning automation, which benefits from the global shift toward digital transformation.
- Strong Global Client Stickiness: Maintains long-term relationships (average client vintage of over 10 years for top customers) with major global clients, providing predictable, recurring revenue from SaaS licensing and support contracts.
- AI-Driven Product Moat: Continuous investment in R&D and proprietary AI-powered platforms (like AI-Levate for test creation and proctoring) enhances its competitive advantage and positions it at the forefront of EdTech innovation.
- Robust Financial Performance: Showcased a significant jump in profitability (172% PAT growth in FY25) and maintains a financially sound balance sheet with minimal leverage.
- Product Engineering Expertise: Deep domain expertise in product development and implementation, ensuring its solutions are scalable, secure, and compliant with global standards (SCORM, QTI, LTI, etc.).
Key Concerns and Risks
- Heavy Client Concentration: This is the most significant risk. The company is highly dependent on one major client, Pearson Education Group, which accounted for approximately 59% of its consolidated revenue in FY25/Q1 FY26. Loss or reduction of business from this client would severely impact its financials.
- Aggressive Valuation: The company’s valuation, particularly its post-IPO Price-to-Earnings (P/E) ratio (estimated around 35x to 57x depending on the date/source), is considered high by some analysts, which may limit the potential for immediate upside if growth slows.
- Industry Concentration: A large portion of its revenue (approx. 70-78%) comes from a limited number of industry verticals, primarily publishing and certification/testing agencies, exposing it to sector-specific downturns or regulatory changes.
- Cybersecurity and Compliance Risks: Given that it handles sensitive student and assessment data, operating globally across 19 countries exposes the company to complex regulatory and cybersecurity risks. A breach could damage trust and reputation.
IPO Lead Managers aka Merchant Bankers
- Anand Rathi Advisors Ltd.
Excelsoft Technologies IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: excelsofttechnologies.ipo@linkintime.co.in
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Excelsoft Technologies Company Address
Excelsoft Technologies Ltd.
1-B,
Hootagalli Industrial Area,
Mysuru, Karnataka, 570018
Phone: +91 821 428 2247
Email: ipo@excelsoftcorp.com
Website: http://www.excelsoftcorp.com/
FAQs about Excelsoft Technologies IPO
The Excelsoft Technologies IPO opens for subscription on November 19, 2025, and closes on November 21, 2025. The final Allotment Date is expected to be November 24, 2025, with the listing scheduled for November 26, 2025.
The IPO Price Band is set between ₹114 to ₹120 per equity share. The total issue size is approximately ₹500.00 Crores, comprising a Fresh Issue of ₹180.00 Cr and an Offer for Sale (OFS) of up to 2,66,66,666 equity shares.
The Lot Size for a retail application is 125 shares. At the upper price band of ₹120, the minimum investment required for a Retail Investor is ₹15,000.
The Excelsoft Technologies IPO allocation quotas reserve 35% for Retail Investors, 50% for QIB (Qualified Institutional Buyers, excluding Anchor), and 15% for NII (Non-Institutional Investors/HNIs).
Excelsoft Technologies is a global vertical SaaS company specializing in the EdTech (Education Technology) learning and assessment market, providing AI-driven platforms for online test delivery, remote proctoring, and digital content.
The company raised ₹150 crores from Anchor Investors on November 18, 2025, at the upper price band of ₹120 per share. Key investors included Bengal Finance & Investment, 360 One Equity Opportunity Fund, GKFF Ventures, and Societe Generale, among others.
The Promoter Holding pre-issue was 94.60%. Following the IPO, the promoter shareholding is expected to be diluted to approximately 59.09%, maintaining a majority stake.
The Fresh Issue proceeds (₹180.00 Cr.) will primarily be used for Capital Expenditure like purchasing land and constructing a new building at the Mysore property, upgrading the existing facility, and enhancing the IT Infrastructure.
The most significant risk is Heavy Client Concentration, with approximately 59% of the company’s revenue coming from a single major client, Pearson Education Group. Other risks include its high post-IPO valuation and industry concentration.
As of November 18, 2025 (latest available data), the Grey Market Premium (GMP) for the Excelsoft Technologies IPO was reported to be around ₹16, implying an estimated listing price of ₹136 (120 + 16) and an expected gain of approximately 13.33%.
Disclaimer: This content is provided strictly for educational and informational purposes only. The securities or investments mentioned are based on publicly available information and should not be construed as investment advice or recommendations. Investors are advised to consult with their financial advisor before making any investment decisions.
