Excelsoft Technologies Files DRHP for ₹700 Crore IPO with SEBI
The IPO will comprise a ₹210 crore fresh issue and a ₹490 crore offer for sale (OFS). The company plans for global expansion.
IPO Details: Global vertical Software as a Service (SaaS) company Excelsoft Technologies filed its Draft Red Herring Prospectus (DRHP) with SEBI on March 2, 2025, for its Initial Public Offering (IPO). The company aims to raise ₹700 crore through this IPO.
Fresh Issue and OFS Components
Excelsoft Technologies' IPO will include both a fresh issue and an offer for sale (OFS).
Fresh Issue: The company will issue new shares worth up to ₹210 crore.
OFS (Offer for Sale): Promoters Pedanta Technologies Private Limited and Dhananjaya Sudhanva will sell shares worth up to ₹490 crore from their holdings.
Allocation of IPO Proceeds
The company plans to utilize the funds raised through the IPO for various purposes, including:
Capital Expenditure
Land acquisition for new building construction.
Upgrading the existing factory's external electrical system.
IT Infrastructure Upgrade
Purchase of software, hardware, and network services.
General corporate purposes.
Potential Pre-IPO Placement
Excelsoft Technologies plans a potential pre-IPO placement of up to ₹30 crore in additional equity shares or a secondary sale of shares up to ₹240 crore. If this pre-IPO placement is successful, the company may reduce the size of its fresh issue.
Business Model and International Clients
Excelsoft Technologies has been providing global services in EdTech and assessment technology for the past 20 years.
The company has 71 clients spread across 17 countries.
Its key markets include the USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada.
The company provides advanced technology-based solutions in the learning and assessment segments.
Anand Rathi Advisors to Manage the IPO
Anand Rathi Advisors Limited has been appointed to manage Excelsoft Technologies' IPO.
Anand Rathi Advisors will act as the book running lead manager.
This IPO could be a significant opportunity for the company, enabling further expansion and access to new markets.
