Excelsoft Technologies IPO Allotment Expected Today, November 24

Post by : Bianca Suleiman

SaaS solutions provider Excelsoft Technologies Ltd is poised to declare the allotment results of its initial public offering (IPO) today, November 24, after a robust public issue that attracted significant interest. The IPO was open for subscription from November 19 to 21 and saw a considerable influx of demand from retail, non-institutional, and qualified institutional investors.

The company successfully raised ₹500 crore through a fresh issuance of 1.50 crore shares valued at ₹180 crore, in addition to an offer for sale (OFS) comprising 2.67 crore shares totaling ₹320 crore. The IPO was priced in the range of ₹114–120 per share, observing an impressive overall subscription of 43.19 times, with retail bids reaching 15.62 times, NIIs 101.69 times, and QIBs 47.55 times.

Investors can review their allotment status on the official BSE and NSE websites or through the registrar, MUFG Intime India Pvt. Ltd. Successful bidders are anticipated to have shares credited to their demat accounts on November 25, with refunds for unsuccessful bids processed the same day. The company's shares are expected to debut on BSE and NSE on November 26.

In the grey market, Excelsoft shares are trading at a premium of ₹8, suggesting a potential listing price of around ₹128, which is approximately 7% above the IPO price. Market analysts view this as a promising sign for initial investors, reflecting strong interest in the company’s SaaS offerings and services.

With the IPO allotment nearing completion, investors are keenly awaiting the listing day, which is anticipated to shape the inaugural performance of Excelsoft Technologies in the equity market.