Excelsoft Technologies Gears Up for Scaled-Down IPO Amid Strategic Expansions

Excelsoft Technologies, a global SaaS firm, is launching a reduced Rs 500-crore IPO from November 19-21. The offering, scaled down from Rs 700 crore, includes a mix of fresh issuances and an offer for sale by the promoter. Proceeds will fund expansions, upgrades, and general corporate purposes.

Excelsoft Technologies, an established global vertical SaaS provider, is prepping to float a truncated Rs 500-crore initial public offering (IPO) on November 19. This move marks a sharp scale-back from its originally planned Rs 700 crore issuance.

The IPO is structured to feature a fresh issue of equity shares netting up to Rs 180 crore, alongside an offer for the sale of shares worth up to Rs 320 crore by its promoter, Pedanta Technologies Pvt Ltd. A red herring prospectus outlines that public subscription opens on November 19, concluding on November 21, with anchor investor bidding available on November 18.

Proceeds from the IPO will facilitate Excelsoft's planned expansions and enhancements, including the procurement of land and the erection of a new building in Mysore and a significant IT infrastructure upgrade. Karnataka-based Excelsoft leverages its rich experience to integrate AI in offerings, serving prominent clients globally. Its equity will debut on the BSE and NSE with Anand Rathi Advisors Ltd managing the lead.

(With inputs from agencies.)