Excelsoft Tech makes positive D-St debut; lists at 12% premium on bourses

Excelsoft Technologies shares listed at ₹135 per share on the NSE, opening with a 12.5 per cent premium over the issue price of ₹120

Excelsoft Technologies listing, Excelsoft Technologies share price: The global vertical SaaS company Excelsoft Technologies made a solid debut on Dalal Street amid a positive market sentiment. The company's shares listed at ₹135 per share on the NSE, opening with a 12.5 per cent premium over the issue price of ₹120. 

 

Soon after listing, the stock touched a high of ₹142.59, up 5.6 per cent from the listing price. 

 

On the BSE as well, Excelsoft Technologies shares opened at ₹135, a premium of 12.5 per cent. Post-listing, the stock rose around 3.2 per cent from the listing price to ₹139.3.

 

The listing price of Excelsoft Technologies was above the grey market estimates. Ahead of the listing, unlisted shares of Excelsoft Technologies were trading at ₹124, commanding a grey market premium (GMP) of ₹4 or 3.34 per cent against the issue price, according to sources tracking unofficial markets.   Check Sudeep Pharma IPO Allotment Status Today, GMP, Listing date

Excelsoft Technologies IPO subscription rate

According to National Stock Exchange (NSE) data, the Excelsoft Technologies IPO received a solid response from investors, with overall subscription reaching 43.19 times. Investors placed bids for 1.32 billion equity shares against the 30.7 million shares available. Non-Institutional Investors (NIIs) led the demand, oversubscribing their allotted quota by 101.69 times. The Qualified Institutional Buyers (QIBs) segment was subscribed around 47.55 per cent, while the retail investors’ portion received 15.62 times more bids than the shares on offer.

Excelsoft Technologies IPO details

Excelsoft Technologies successfully raised ₹500 crore through its initial public offering, which comprised a fresh issue of 15 million equity shares and an offer for sale (OFS) of 26.7 million equity shares. The IPO was offered in the price band of ₹114 to ₹120 per share, with a minimum application lot of 125 shares. The issue was open for subscription from November 19 to November 21.  The allotment of shares was finalised on Wednesday, November 24.

 

According to the RHP, the company plans to utilise ₹71.9 crore from the net fresh issue proceeds to purchase land and construct a new facility at its Mysore property, and ₹39.5 crore for upgrading the existing Mysore unit, including external electrical systems. Additionally, the company will allocate ₹54.6 crore to enhance its IT infrastructure. The remaining funds will be used for general corporate purposes.