Strong investor demand and high valuation mark Excelsoft Technologies’ market debut
The Excelsoft Technologies IPO has generated strong investor enthusiasm, closing with a subscription rate of 11.72 times on the final day of bidding, according to data from the Bombay Stock Exchange (BSE). The Mysuru-based EdTech company, known for its global learning and assessment solutions, launched its public issue on November 19 with a price band of ₹114–₹120 per share.
With the offer closing on November 21, Excelsoft has officially joined the list of heavily subscribed tech IPOs of 2025. The issue received broad participation from retail, institutional, and high-net-worth investors, underscoring the growing investor appetite for India’s technology-driven education sector.
Excelsoft Technologies IPO Details and Subscription Status
The excelsoft technologies ipo aims to raise around ₹500 crore, comprising a ₹180 crore fresh issue and an offer-for-sale (OFS) worth up to ₹320 crore by promoter Pedanta Technologies. This figure is lower than the ₹700 crore initially proposed in the company’s draft red herring prospectus earlier this year.
According to LiveMint, the subscription data as of 5 PM on November 21 showed bids for 21.14 crore shares against 3.07 crore shares offered. Here’s the segment-wise breakdown:
- Retail Investors: Subscribed 5.92x
- Non-Institutional Investors (NIIs): Subscribed 18.20x
- Qualified Institutional Buyers (QIBs): Subscribed 0.09x
The share allotment for the excelsoft technologies ipo will be finalized on November 24, with refunds processed by November 25, and shares credited to demat accounts on the same day. The company’s stock is expected to list on both BSE and NSE on November 26, 2025.
Excel Soft Technologies GMP Today
Investor attention has also turned to the excel soft technologies gmp (grey market premium), which provides early clues to listing sentiment. As of today, the GMP stands at ₹14, signaling a potential listing price of around ₹134 per share — roughly 11.6% above the upper IPO price band.
However, analysts noted that the GMP has seen fluctuations over the past ten sessions, ranging between ₹0 and ₹30. This volatility reflects investor uncertainty about the high valuations amid broader market caution.
About Excelsoft Technologies
Founded over two decades ago, Excelsoft Technologies provides learning and assessment solutions for global educational institutions and enterprises. Its clients include major names such as Pearson Education, AQA Education, Brigham Young University (Idaho), and Ascend Learning.
The company’s proprietary learning platforms are designed to deliver scalable education technology, making it a key player in India’s growing EdTech ecosystem. With a proven track record in adaptive learning and content delivery, Excelsoft Technologies leverages long-term contracts with its clients, ensuring consistent revenue flow.
Expert Review: High Valuation but Strong Fundamentals
Market analysts have given mixed reviews to the excelsoft technologies ipo, citing both strong fundamentals and stretched valuations.
Canara Bank Securities highlighted that the company’s valuation stands at 39x FY25 earnings and around 57x annualized Q1 FY26 earnings, significantly higher than its industry peers. The brokerage advised that only investors with a long-term outlook and high risk tolerance should consider subscribing.
Meanwhile, Swastika Investmart maintained a neutral rating, pointing to Excelsoft’s robust profit growth — a 172% rise in PAT for FY25 — but noted its heavy dependency on the Pearson Education Group, which contributes nearly 59% of revenue.
Both brokerages agree that while the excelsoft technologies ipo is fundamentally strong, its premium pricing leaves limited room for short-term gains.
Promoter Shareholding and Lead Managers
Prior to the IPO, promoters held 94.6% of Excelsoft Technologies’ equity, with the public holding the remaining 5.4%. Post-listing, the promoter stake will reduce slightly, improving the company’s public float.
Anand Rathi Advisors serves as the sole book-running lead manager, while MUFG Intime India Pvt Ltd acts as the registrar for the issue.
What’s Next for Investors
The final allotment and listing of the excelsoft technologies ipo on November 26 will reveal whether the company can sustain investor confidence amid volatile market sentiment. If listing gains mirror the current excel soft technologies gmp, early investors could see a moderate premium.
However, with its high valuation and dependence on a few major clients, analysts urge caution for short-term traders. Long-term investors, especially those bullish on India’s EdTech growth, may find Excelsoft a compelling addition to their portfolios.
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