In a significant prelude to its much-anticipated initial public offering (IPO), Excelsoft Technologies, a Mysuru-based vertical SaaS provider specializing in learning and assessment solutions, has successfully raised INR 150 crore from 10 marquee anchor investors. This allocation marks a crucial step in the company’s path to listing, underscoring strong institutional confidence in its business fundamentals and growth trajectory.
Excelsoft Technologies Anchor Book Allocation Details
The IPO Committee of Excelsoft Technologies, in consultation with its Book Running Lead Manager, Anand Rathi Advisors, finalized the allocation of 1,24,99,999 equity shares at an anchor investor allocation price of INR 120 per share (including a premium of INR 110 per share) on 18 November 2025.
The allocation list reveals participation from a mix of domestic and international institutional investors, with Bengal Finance & Investment—associated with noted investor Ashish Kacholia—emerging as the largest subscriber, securing 50 lakh shares worth INR 60 crore.
Other notable participants include:
- 360 ONE Equity Opportunity Fund – 20.83 lakh shares for INR 25 crore
- GKFF Ventures – 8.33 lakh shares for INR 9.99 crore
- Société Générale (ODI) – 8.33 lakh shares for INR 10 crore
- Rajasthan Global Securities – 8.33 lakh shares for INR 10 crore
- Sanshi Fund – I Investment Account – 6.25 lakh shares for INR 7.5 crore
- BNP Paribas Financial Markets (ODI) – 6.25 lakh shares for INR 7.5 crore
- Alphamine Absolute Return Fund – Investment Account – 4.16 lakh shares for INR 5 crore
- Shine Star Build-Cap – 4.16 lakh shares for INR 5 crore
- Bandhan Mutual Fund (through two schemes) – 8.33 lakh shares (6.67% of anchor book) worth INR 10 crore
The total anchor investment amounts to INR 150 crore, reflecting near-full subscription at the upper end of the price band.
Excelsoft Technologies IPO Structure and Key Dates
Excelsoft Technologies’ INR 500-crore IPO opens for public subscription on 19 November 2025 and closes on 21 November 2025. The issue comprises a fresh issue of INR 180 crore and an offer-for-sale (OFS) worth INR 320 crore by its promoter, Pedanta Technologies.
The IPO price band has been set between INR 114 and INR 120 per share, with a face value of INR 10 per share. Retail investors can apply for a minimum of 125 shares (INR 15,000). Shares are scheduled to list on both the BSE and NSE on 26 November 2025, following the finalization of the basis of allotment on 24 November 2025.
Excelsoft Technologies: Utilization of Proceeds
The company has earmarked the proceeds from the fresh issue for capital expenditure and infrastructure upgrades:
- INR 61.77 crore for the purchase of land and construction of a new building at its Mysuru property
- INR 39.51 crore for the upgradation and external electrical systems of the existing facility in Mysuru
- INR 54.64 crore for enhancement of IT infrastructure, including software, hardware, and communications systems
- The remaining funds will be used for general corporate purposes
About Excelsoft Technologies
Founded in 2000, Excelsoft Technologies has evolved into a global leader in learning and assessment technology solutions. The company’s cloud-based platforms have served over 3 crore users, enabled 180 crore test submissions, and proctored over 2,50,000 exams across 25 countries.
As of 31 August 2025, the company catered to 76 clients in 19 countries, offering products and services that spanned e-learning, e-assessment, content solutions, and enterprise management systems.
Market Sentiment and Valuation
According to market trackers, Excelsoft’s IPO grey market premium (GMP) has hovered around INR 17 per share in the days leading up to the issue, indicating moderate but steady investor enthusiasm. The implied price-to-earnings (P/E) ratio ranges between 32.85x and 34.58x pre-issue, and 37.87x to 39.87x post-issue, suggesting the issue is priced at a premium reflecting its SaaS sector positioning and profitability resurgence.
Conclusion
Excelsoft Technologies’ successful anchor book allocation—dominated by institutional and foreign investors—underscores a strong vote of confidence in its scalable SaaS model, established client base, and improving financial profile. With proceeds channeled toward strategic expansion at its Mysuru facilities and technological upgradation, the IPO positions Excelsoft for the next phase of global growth.
Market observers note that the anchor participation by reputed investors such as Bengal Finance & Investment, Société Générale, and BNP Paribas is likely to bolster investor confidence as the IPO opens to public subscription on 19 November 2025.
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