Post-listing, the stock rose 6 percent to a high of ₹142.65 on the BSE. At 10.13 am, it was trading at ₹139.35 on the BSE and at ₹139.34 on the NSE.
According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, the healthy investor sentiment reflected the company’s scalable vertical SaaS presence in the global EdTech and digital review ecosystem.
The market expert advised investors who could be allocated shares to book partial gains and hold the rest for medium-term growth, supported by the company’s SaaS model, global presence and strong financial momentum. A stop-loss of around ₹130 is advisable to manage downside risk.
The company’s IPO, comprising a fresh issue of ₹180 crore and an offer for sale worth ₹320 crore, attracted strong participation from across investor categories. At the close of bids, the IPO had been subscribed 43.19 times, with applications received for 1,32,59,07,625 shares as against 3,07,01,754 in the offer. Non-institutional investors led the demand with 101.69 times subscriptions, followed by qualified institutional buyers at 47.55 times, while the retail segment subscribed 15.62 times.
Ahead of the public offer, Excelsoft raised ₹150 crore from major investors. The price band was set at ₹114–120 per share, with the vertical SaaS provider valued at around ₹1,380 crore at the higher end.
Excelsoft Technologies, which provides technology-enabled learning and assessment solutions to global corporate clients, plans to use funds from the new issue to acquire land and construct a new building on its premises in Mysore. The rest will support general business requirements.
Financially, the company has demonstrated strong growth, with FY25 PAT growing by 172 percent, supported by operating leverage and expanding digital adoption across all markets. The product suite, domain expertise and long-standing customer relationships continue to support stable monetization visibility, Nyati said.
However, risks remain. Significant customer concentration at Pearson (which contributes 59 percent of revenue) poses a major disruption risk in the event of contract loss or delay. Moreover, the IPO valuation appeared aggressive (pre-IPO around 35), leaving little room for sharp near-term upside, Nyati added.
Market participants had expected a healthy listing given the company’s strong operating history, long-standing customer relationships and growing SaaS footprint. The upbeat debut at a double-digit premium reflected this sentiment, with the stock showing steady movement in early trading as investors assessed its long-term growth prospects following the oversubscribed IPO.
Published on November 26, 2025
#Excelsoft #Tech #stock #price #lists #premium #IPO #price