Excelsoft Technologies IPO Surges, Ends with 5% Premium on Debut

Excelsoft Technologies Ltd shares closed with a 5% premium at Rs 125.95, after debuting at Rs 135. With a market valuation of Rs 1,449.49 crore, the IPO was subscribed 43.19 times. It aims to use the raised funds for land acquisition, infrastructure upgrades, and corporate purposes.

Excelsoft Technologies Ltd made a strong market debut as its shares ended Wednesday trading with a nearly 5% premium over the issue price of Rs 120. The stock opened at Rs 135, reflecting a 12.5% surge from its issue price on both the BSE and NSE.

During intraday trading, Excelsoft's stock hit a high of Rs 142.65 on the BSE before closing at Rs 125.95, showing a 4.95% gain over the issue price. Similarly, on the NSE, shares concluded at Rs 125.97 with a jump of 4.97%.

Excelsoft's IPO was highly sought after, with a subscription rate of 43.19 times on its closing day. The software-as-a-service company, valued at Rs 1,449.49 crore, plans to use proceeds for various projects, including real estate purchases and infrastructure upgrades at its Mysore facilities.

(With inputs from agencies.)