Excelsoft Technologies raises Rs 150 crore from 10 anchor investors ahead of Rs 500-crore IPO

Excelsoft Technologies, a global vertical SaaS company specialising in the learning and assessment market, has raised Rs 150 crore from 10 anchor investors on November 18, a day before the IPO launch for the public.

The Rs 500-crore initial share sale will open for public subscription on November 19, with price band of Rs 114-120 per share, and close on November 21. The IPO is a mix of fresh issuance of shares worth Rs 180 crore, and an offer-for-sale of Rs 320 crore worth shares by promoter Pedanta Technologies.

The Karnataka-based company has finalised allocation of 1.25 lakh shares to anchor investors at the upper price band. "Out of this total allocation to anchor investors, 8.33 lakh shares (6.67 percent of total anchor book) were allocated to Bandhan Mutual Fund which has applied through its two schemes," it said.

Bengal Finance & Investment, which is associated with well-known investor Ashish Kacholia, was the largest anchor investor, picking up 50 lakh shares for Rs 60 crore, while 360 ONE Equity Opportunity Fund bought 20.83 lakh shares for nearly Rs 25 crore.