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What is the story about?
The initial public offering (IPO) of Excelsoft Technologies, a global vertical SaaS company specialising in the learning and assessment market, will open for subscription on Wednesday, November 19. The company is aiming to raise ₹500 crore through the initial share sale.
The Karnataka-based company raised ₹150 crore from anchor investors, a day before the IPO launched for the public.
Bengal Finance & Investment, which is associated with well-known investor Ashish Kacholia, was the largest anchor investor, picking up 50 lakh shares for ₹60 crore, while 360 ONE Equity Opportunity Fund bought 20.83 lakh shares for nearly ₹25 crore.
Societe Generale, GKFF Ventures, Sanshi Fund, BNP Paribas Financial Markets, Alphamine Absolute Return Fund, Shine Star Build-Cap, and Rajasthan Global Securities were other investors participated in the anchor book.
Price band for the IPO has been set between ₹114 and ₹120, with investors bidding for a minimum of 125 shares and in multiples thereof.
The three-day issue will close for bidding on November 21.
In the unlisted market, shares of Excelsoft Technologies are commanding a premium of ₹15 today, indicating a likely listing gain of 12.50% over the issue price.
However, it is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO is a mix of fresh issuance of shares worth ₹180 crore, and an offer-for-sale of ₹320 crore worth shares by promoter Pedanta Technologies.
Excelsoft Technologies will utilise ₹61.8 crore of fresh issue proceeds for purchase of land and construction of new building at the Mysore property, and ₹39.5 crore for upgradation including external electrical systems of existing facility at Mysore.
Further, ₹54.6 crore will be used for upgradation of IT infrastructure (software, hardware and communications & network services), and the remainder funds for general corporate purposes.
Anand Rathi Advisors is acting as the merchant banker for the Excelsoft Technologies IPO, and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
The allotment for the Excelsoft Technologies IPO is expected to be finalised on November 24, and the company’s shares will be listed on BSE, NSE with a tentative listing date fixed as November 26.
The Karnataka-based company raised ₹150 crore from anchor investors, a day before the IPO launched for the public.
Bengal Finance & Investment, which is associated with well-known investor Ashish Kacholia, was the largest anchor investor, picking up 50 lakh shares for ₹60 crore, while 360 ONE Equity Opportunity Fund bought 20.83 lakh shares for nearly ₹25 crore.
Societe Generale, GKFF Ventures, Sanshi Fund, BNP Paribas Financial Markets, Alphamine Absolute Return Fund, Shine Star Build-Cap, and Rajasthan Global Securities were other investors participated in the anchor book.
Price band for the IPO has been set between ₹114 and ₹120, with investors bidding for a minimum of 125 shares and in multiples thereof.
The three-day issue will close for bidding on November 21.
In the unlisted market, shares of Excelsoft Technologies are commanding a premium of ₹15 today, indicating a likely listing gain of 12.50% over the issue price.
However, it is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO is a mix of fresh issuance of shares worth ₹180 crore, and an offer-for-sale of ₹320 crore worth shares by promoter Pedanta Technologies.
Excelsoft Technologies will utilise ₹61.8 crore of fresh issue proceeds for purchase of land and construction of new building at the Mysore property, and ₹39.5 crore for upgradation including external electrical systems of existing facility at Mysore.
Further, ₹54.6 crore will be used for upgradation of IT infrastructure (software, hardware and communications & network services), and the remainder funds for general corporate purposes.
Anand Rathi Advisors is acting as the merchant banker for the Excelsoft Technologies IPO, and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
The allotment for the Excelsoft Technologies IPO is expected to be finalised on November 24, and the company’s shares will be listed on BSE, NSE with a tentative listing date fixed as November 26.
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