Excelsoft Technologies IPO Allotment Likely Today, 24 Nov

SaaS solutions provider Excelsoft Technologies Ltd is set to announce the allotment of its initial public offering (IPO) today, November 24, following a highly subscribed public issue. The IPO, which was open for bidding from November 19 to 21, drew strong demand across retail, non-institutional, and qualified institutional investors.

The company raised ₹500 crore through a combination of a fresh issue of 1.50 crore shares worth ₹180 crore and an offer for sale (OFS) of 2.67 crore shares totaling ₹320 crore. The IPO was priced in the band of ₹114–120 per share and received an overall subscription of 43.19 times, with retail investors bidding 15.62 times, NIIs 101.69 times, and QIBs 47.55 times.

Investors can check their allotment status through the official portals of BSE, NSE, or the registrar, MUFG Intime India Pvt. Ltd. Successful applicants are expected to have their shares credited to demat accounts on November 25, with refunds for unsuccessful bids processed the same day. The company’s shares are scheduled to list on both BSE and NSE on November 26.

In the grey market, Excelsoft shares are trading at a premium of ₹8 per share, signaling a potential listing price around ₹128, roughly 7% higher than the IPO price. Market watchers see this as a positive indicator for early investors, reflecting robust interest in the company’s SaaS solutions and services.

With its IPO now reaching the allotment stage, investor focus is firmly on the listing day, which is likely to set the tone for Excelsoft Technologies’ debut in the equity market.