SaaS solutions developer Excelsoft Technologies Ltd is poised to reveal the allotment results of its initial public offering (IPO) today, November 24. This follows a highly competitive public issue which was available for bidding from November 19 to 21, attracting considerable interest from retail, non-institutional, and qualified institutional investors.
The firm successfully secured ₹500 crore through a fresh issue of 1.50 crore shares worth ₹180 crore alongside an offer for sale (OFS) of 2.67 crore shares totalling ₹320 crore. The IPO was priced within a band of ₹114–120 per share, enjoying a total subscription rate of 43.19 times, with retail bids at 15.62 times, NIIs at an extraordinary 101.69 times, and QIBs at 47.55 times.
Investors can verify their allotment status via the official channels of BSE, NSE, or through the registrar, MUFG Intime India Pvt. Ltd. Those who are awarded shares can expect them credited to their demat accounts on November 25, while refunds for those who were not successful will also be processed that day. The shares are set to officially list on the BSE and NSE on November 26.
Currently, Excelsoft shares are trading at a grey market premium of ₹8 each, suggesting a potential listing price around ₹128, which is approximately 7% above the IPO price. Market analysts view this as a promising sign for investors, indicating strong demand for the company's SaaS solutions and offerings.
With the IPO allotment imminent, all eyes are now on the listing day, which could significantly shape Excelsoft Technologies’ introduction to the stock market.
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