IPO Details
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Schedule of Excelsoft Technologies Ltd
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Allotment of bids
Refund Initiation
Listing on exchange
About Excelsoft Technologies Ltd IPO
The IPO comprises a fresh issue and an offer for sale. While the fresh issue aggregates up to ₹210 crores, the offer for sale aggregates up to ₹490 crores. It’s a 100% book-built offer.
Objectives of Excelsoft Technologies Ltd IPO
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Funding of capital expenditure for purchase of land and construction of a new building located at Plot No. 1-C-Part of Hootagalli Industrial Area, Situated in Survey No. 83 of Hootagalli Village, Kasaba Hobli, Mysore Taluk, Mysore District
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Funding of capital expenditure for upgradation and external electrical systems of its existing facility at Plot No. 1-B and Plot No. 1-C, Part II and III Hootagalli Industrial Area situated in Survey no. 85 of Hootagalli Village, Kasaba Hobli, Mysore Taluk, Mysore District – 570018, Karnataka
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Funding upgradation of the company’s IT Infrastructure
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General corporate purposes
Excelsoft Technologies Ltd IPO Valuation
Excelsoft Technologies Ltd Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Bidders | Not less than 15% of the offer |
Retail Individual Investors | Not less than 35% of the offer |
Industry Outlook
SaaS is transforming the banking, financial services, & insurance (BFSI) industry by offering scalable, flexible, and cost-efficient solutions that address the unique challenges of this sector. SaaS has become a cornerstone of innovation in the retail and e-commerce industries, providing businesses with the tools to scale efficiently, adapt to changing consumer behaviour, and offer personalised, omnichannel experiences.
The global SaaS market was valued at $261.10 billion in 2024 and is expected to reach $733.72 billion by 2030, growing at a CAGR of 18.79% during the forecast period.
Company Information
Excelsoft Technologies Ltd is a global vertical SaaS company focused on the learning and assessment market. The global SaaS market has seen rapid growth, with vertical SaaS emerging as a dominant trend that promises specialised, industry-tailored solutions. This shift has positioned vertical SaaS to grow at an even faster pace than general SaaS, with estimates suggesting that vertical SaaS could account for nearly 50% of the SaaS market by 2030.
With over two decades of experience, the company provides technology-based solutions across diverse learning and assessment segments through long-term contracts with enterprise clients worldwide. Its platforms are cloud-based with open and industry standards-compliant APIs, ensuring scalability across organisations and users. Security and performance are core to its product offerings.
Excelsoft Technologies Ltd Strengths
Expertise in Product Engineering & Development for Assessments, Digital Learning, and Information Management Systems
Excelsoft Technologies Ltd offers products and services that encompass the entire lifecycle of learning and assessment which are feature-rich, versatile and have the ability to work across the spectrum of organisations. The company has expertise across the value chain of product and services in the field of learning and assessment market.
It brings years of its product development and implementation experience aided by a thorough understanding of customer requirements thus envisioning, building and implementing best-fit solutions in the education, training and learning space.
Long term Relationships with Global Customers
One of the company’s strengths is its long-term relationship with its global customers. The company has its clientele spread across various parts of the globe including but not limited to countries like USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE and Canada. Most of its global customers have been associated with us for a long duration.
The company’s products and services have ensured that it maintains a healthy and long-term trustworthy business relations with its global customers ensuring a growth to its business and global footprint.
Expertise in Delivering Fully Compliant Digital Learning and Assessment Solutions to Clients Globally
Over the years the company has expanded its clientele across various countries and catering to the complex requirement of diverse clients. The company has been certified with ISO/IEC 27001:2013 for ISMS covers E-Learning and E-Assessment Products & Solutions, Projects, Content Solutions, Services along with HR, Admin, IT, Finance, Business Development and Legal Functions.
It has also been certified with ISO 9001:2015 for E-Learning and E-Assessment Products and Solutions, Projects, Content Solutions and Services along with HR, Admin, IT, Finance, Business Development and Legal Functions Supporting the above deliveries.
Risks of Excelsoft Technologies Ltd IPO
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Geopolitical and Market Risks: The company’s business subjects it to risks in multiple countries where subsidiary companies and its customers are situated. It derives a significant portion of its revenues from clients located in the United States of America, Singapore and the United Kingdom. Should it expand its business operations in these jurisdictions and to other geographies, any adverse developments in these markets could adversely affect its business.
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Dependence on Pearson Education Group for Revenue: A significant portion of its revenue over the last three Fiscals and the six months period ended September 30, 2024, is derived from Pearson Education Group. Any decrease in revenues from Pearson Education Group or any loss of business from Pearson Education Group may adversely affect its business, financial condition, cash flows and results of operations.
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Heavy Reliance on Key Customers: The company depends on certain key customers for a significant portion of its revenues (its top 5, top 10 and top 20 customers contributed to 59.53%, 72.16% and 87.33%, respectively, of its revenue from operations in Fiscal 2024). Any decrease in revenues from any of its key customers or any loss of these customers may adversely affect its business, financial condition, cash flows and results of operations.
All Financial Information about Excelsoft Technologies
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Peer Comparison
There are no listed companies in India that have business composition and segment contribution similar to that of Excelsoft Technologies Ltd. Accordingly, it is not possible to provide an industry comparison in relation to the company.
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: MUFG Intime India Pvt Ltd
- Book Running Lead Manager: Anand Rathi Advisors Ltd
Business Model
The company’s focus is on the high-stake assessment market through its AI-based assessment and proctoring solutions. Its learning systems offerings encompass a suite of platforms and solutions that help publishers manage digital online learning solutions including subscription management, digital asset management and analytics.
Over the years, the company has been recognised with various global awards & accolades for its products and services such as e-assessment Association Award and Brandon Hall Group Awards in various categories.
Company Growth Trajectory
Excelsoft’s revenue from operations grew from ₹157.850 crores in FY 22 to ₹198.297 crores in FY 24. Its gross profit increased from ₹101.380 crores in FY 22 to ₹114.211 crores in FY 24. Its net worth increased from ₹255.052 crores in FY 22 to ₹297.303 crores in FY 24.
Market Position
A global vertical SaaS company, as on December 31, 2024, Excelsoft Technologies is catering to 71 clients spread across 17 countries. The company has its clientele spread across various parts of the globe including but not limited to countries like USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE and Canada.
Excelsoft Technologies Ltd Profit and Loss
| Parameter | FY 24 | FY 22 | FY 21 |
|---|---|---|---|
Total Income (in ₹ crores) | 200.696 | 197.973 | 159.996 |
Profit / Loss Before Tax (in ₹ crores) | 18.314 | 30.183 | 29.212 |
EPS in ₹ | 1.27 | 2.24 | 1.91 |
Excelsoft Technologies Ltd Balance Sheet
| Parameters | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit / Loss Before Tax (in ₹ crores) | 18.314 | 30.183 | 29.212 |
Net Cash From/ (Used in) Operating Activities (in ₹ crores) | 55.777 | 55.588 | 60.921 |
Net Cash From / (Used in) Investing Activities (in ₹ crores) | (15.566) | (15.112) | (24.362) |
Net Cash From / (Used in) Financing Activities | (51.988) | (26.735) | (35.155) |
Cash and Cash Equivalents at the End of the Year (in ₹ crores) | 4.807 | 16.584 | 2.843 |
How to Check Allotment Status of Excelsoft Technologies Ltd?
1. Visit the Registrar’s Website
Visit the official website of MUFG Intime India Private Ltd and choose ‘Public Issues’ from ‘Investor Services’ dropdown. Choose the company name from the ‘Select Company’ dropdown. Enter either your PAN, application number, DP client ID, etc and click on ‘Submit’ to check status.
2. Check on Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Select 'Equity' from the dropdown menu
- Choose 'Excelsoft Technologies Ltd' in the next dropdown
- Enter your application number
- Enter your PAN
Click 'Search’ to know allotment status
3. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Excelsoft Technologies Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Excelsoft Technologies Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Excelsoft Technologies Ltd IPO FAQs
What is the Excelsoft Technologies Ltd IPO?
The IPO of Excelsoft Technologies Ltd comprises a fresh issue and an offer for sale. While the fresh issue aggregates up to ₹210 crores, the offer for sale aggregates up to ₹490 crores. It’s a 100% book-built offer.
When will the IPO of Excelsoft Technologies Ltd IPO go live?
The exact dates of the Excelsoft Technologies Ltd IPO are yet to be announced.
Who is the chairman and MD of Excelsoft Technologies Ltd?
Dhananjaya Sudhanva is the chairman and MD of Excelsoft Technologies Ltd
From where can I read more about the IPO of Excelsoft Technologies Ltd?
You can read more about Excelsoft Technologies Ltd IPO from the company’s draft red herring prospectus here.
