SaaS company Excelsoft Technologies will launch a Rs 500 crore IPO on November 19. View the details

The initial public offering (IPO) of Excelsoft Technologies, a global vertical SaaS company focused on the learning and assessment market, will open on November 19 and close on November 21, according to the red herring prospectus (RHP). The Rs 500 crore IPO of the Karnataka-based company is a combination of a fresh issue of shares aggregating Rs 180 crore and an offer for sale (OFS) of shares of Rs 320 crore.Excelsoft Technologies proposes to utilize Rs 62 crore of the net proceeds to fund capital expenditure for acquisition of land and construction of a new building on the Mysore premises, Rs 39.51 crore for upgrades including external electrical systems of the existing facility in Mysore, Rs 54.63 crore to fund the upgrade of the company’s IT infrastructure and the remainder for general corporate purposes.

With over twenty years of experience, Excelsoft provides technology-based solutions for various learning and assessment segments through long-term contracts with enterprise customers worldwide. As of August 31, it serves 76 customers across 19 countries, including the US, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE and Canada.

The company is actively implementing artificial intelligence (AI) in its products and services. It includes building LLMs (native and hybrid), small LLMs that are device-specific, and AI agents that provide an intelligent user experience in both the learning and assessment products.

According to an Arizton report, AI and machine learning are being integrated into proctoring solutions to improve monitoring capabilities and reduce the need for human intervention.

Some of Excelsoft’s prominent and long-standing customers include Pearson Education, AQA Education, Colleges of Excellence, NxGen Asia Pte, Pearson Professional Assessments, Sedtech for Technology Education and Learning WLL, Ascend Learning LLC, Brigham Young University – IDAHO, Training Qualifications UK, Surala Net, Excel Public School and The Chartered Quality Institute. On the financial front, Excelsoft reported revenue from operations of Rs 233.29 crore in FY25, with a PAT of Rs 34.69 crore. The global SaaS market has experienced rapid growth, with vertical SaaS emerging as a dominant trend that promises specialized, industry-tailored solutions. This shift has allowed 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, according to the Arizton report.

Anand Rathi Advisors is the sole lead manager on this issue. The company’s shares are proposed to be listed on the BSE and NSE.