Excelsoft Technologies Share Price: The initial public offer of Excelsoft Technologies Ltd received a decent response from investors, with a 43.19 times subscription on the closing day of bidding on Friday.
Shares of Excelsoft Technologies on Wednesday made a decent market debut, listing at a 12.50 per cent premium on the BSE and the National Stock Exchange (NSE), against the issue price of Rs 120.
The stock listed at Rs 135, higher by 12.50 per cent from the issue price on the BSE. It later hit a high of Rs 142 and a low of Rs 134.95.
The initial public offer of Excelsoft Technologies Ltd received a decent response from investors, with a 43.19 times subscription on the closing day of bidding on Friday. Among the investor categories, the non-institutional investor 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 15.62 times the subscription.
Ahead of the IPO, the company said it garnered Rs 150 crore from anchor investors. The price band for the IPO has been fixed at Rs 114-120 per share, valuing the company at around Rs 1,380 crore at the upper end.
The IPO of Excelsoft Technologies, a vertical SaaS (software-as-a-service) company focused on the learning and assessment market, had a fresh issue aggregating up to Rs 180 crore and an offer for sale aggregating up to Rs 320 crore.
Excelsoft Technologies IPO GMP
According to Investorgain, Excelsoft Technologies’ unlisted shares traded at a grey market premium (GMP) of Rs 7. Considering the upper price band of Rs 120, the company’s shares were expected to list at around Rs 127, reflecting a grey market premium of 5.83 per cent.
How does the company plan to utilise proceeds?
The company proposes to utilise Rs 61.76 crore from the fresh issue for the purchase of land and construction of a new building at the Mysore Property, Rs 39.51 crore for upgradation and external electrical systems of its existing facility at Mysore, Rs 54.63 crore for funding upgradation of the company’s IT Infrastructure and the balance towards general corporate purposes.
ALSO READ | From HDFC Asset Management Company to PFC, these stocks to trade ex-date this week for dividend, bonus issue
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
