After PhysicsWallah, Excelsoft Technologies is entering the primary market with an IPO to raise Rs 500 crore.
The company is opening subscriptions on November 19 and closing on November 21, 2025.
The IPO price band is set between Rs 114-120 per share, with a combination of 1.5 crore fresh shares (Rs 180 crore) and 2.67 crore offer-for-sale shares (Rs 320 crore).
The allotment is expected on November 24, and the listing on BSE and NSE is likely on November 26.
Investment and Grey Market Insights
Lot size for retail investors: Minimum 125 shares (~Rs 15,000)
Small NII: 1,750 shares (~Rs 2 lakh)
Big NII: 8,375 shares (~Rs 10 lakh)
The grey market premium (GMP) has been declining recently.
Today, it stands at 12.5%, down from 25% four days ago.
Investors should note that GMP is not an official indicator of listing price, as grey market trades are unofficial.
About Excelsoft Technologies
Founded in 2000, Excelsoft is a global SaaS company specializing in the learning and assessment market.
It provides:
AI-powered applications and test platforms
Online proctoring solutions
Learning experience platforms (LXP)
Digital eBooks for education and corporate training
Popular products include SARAS LMS, EnablED LXP, and OpenPage digital books, which help institutions and corporations in training, learning, and development.
Expert View
Reliance Securities notes that the IPO proceeds will help Excelsoft scale infrastructure and invest in AI and LLMs.
Success depends on global expansion, AI product innovation, and managing costs. Based on these factors, the recommendation is to “Subscribe.”
