Home / Business and Economy / Excelsoft IPO Surges: Retail Bids Explode on Day 1
Excelsoft IPO Surges: Retail Bids Explode on Day 1
20 Nov
Summary
- Excelsoft's Rs 500 crore IPO saw strong investor interest on Day 1.
- Retail and non-institutional segments were oversubscribed, signaling demand.
- The company offers learning and assessment SaaS solutions globally.
Excelsoft Technologies' Rs 500 crore Initial Public Offering (IPO) has garnered significant investor attention, with the retail and non-institutional categories being oversubscribed on the first day of bidding. The three-day offering, which opened recently, saw bids for 4.45 crore shares against the 3.07 crore available, reaching a 1.45 times subscription rate.
The grey market premium has seen an uptick, signaling potential listing gains, though the IPO is considered aggressively priced. Excelsoft Technologies, a global provider of learning and assessment SaaS solutions, plans to utilize the funds for expansion, including capital expenditure for new property and infrastructure upgrades.
Financially, the company has shown strong growth, with increased total income and a sharp rise in net profit in the latest fiscal year. Despite a notable client concentration risk, the company operates in a growing vertical SaaS segment with long-term contracts.
