Liquidity Events
Learning-focused tech solutions provider Excelsoft’s Rs.500-Cr IPO booked 43x
The initial public offering (IPO) of Mysore-based Excelsoft Technologies Ltd received 43.19 times subscription. The issue got bids for 1,32,59,07,625 shares against 3,07,01,754 shares on offer.The Non-Institutional Investor (NII) portion attracted 101.69 times the subscription, while the quota for Qualified Institutional Buyers (QIBs) got subscribed 47.55 times. The category for Retail Individual Investors (RIIs) fetched a 15.62 times subscription. The price band for the IPO was fixed at INR 114-120 per share, valuing the company at around INR 1,380 crore at the upper end.The IPO has a fresh issue component aggregating INR 180 crore and an offer for sale part aggregating INR 320 crore. Excelsoft had earlier garnered INR 150 crore from anchor investors.Excelsoft provides solutions across diverse learning and assessment segments through long-term contracts with enterprise clients worldwide. The company proposes to use INR 61.76 crore from the proceeds for buying land and construction of a new building, INR 39.51 crore for upgrading and external electrical systems, and INR 54.63 crore for funding the upgrading of the company's IT infrastructure.
Between Apr 2008 and Sep 2008, Excel-soft Technologies had attracted about USD 40 M from Arohi Asset Management and DE Shaw.
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