Excelsoft Technologies IPO GMP has risen ahead of the issue’s opening on November 19.
The Karnataka-based global vertical SaaS company will open its Rs 500-crore public offering for subscription from November 19 to 21.
Platforms tracking grey market activity indicated that Excelsoft shares were quoting a premium of more than 13 percent. Investorgain pegged the GMP at Rs 16 per share, suggesting a potential listing gain of about 13.33 percent, while IPO Watch also indicated a premium of around 13 percent.
The IPO comprises a fresh issue of equity shares worth Rs 180 crore and an offer for sale of shares totalling Rs 320 crore by promoter Pedanta Technologies Pvt Ltd.
According to the company, Rs 61.76 crore from the fresh issue proceeds will be used to purchase land and construct a new building at its Mysuru property, while Rs 39.51 crore has been earmarked for upgrading external electrical systems at its existing Mysuru facility.
Another Rs 54.63 crore will go towards upgrading the company’s IT infrastructure, with the remainder set aside for general corporate purposes.
Excelsoft, which has been operating for more than two decades, provides technology-based solutions across learning and assessment segments through long-term contracts with enterprise clients worldwide.
The company said it actively integrates artificial intelligence into its products, including proprietary and hybrid large language models, device-specific small models and AI agents designed to enhance user experience in learning and assessment offerings.
The equity shares are proposed to be listed on the BSE and NSE on November 26.
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