Excelsoft IPO review | Excelsoft IPO GMP | Vibhor Varshney | Upcoming IPO |
Автор: Vibhor Varshney
Загружено: 2025-11-17
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Hey everyone, it's Vibhor Varshney — in this video, I analyze the Excelsoft Technologies IPO: what the company does, its financials, IPO structure, GMP potential, and whether it’s a good pick for you. Whether you're investing long-term or looking for a listing pop, this breakdown will help you decide.
1. IPO Overview
Company: Excelsoft Technologies Ltd
Business: EdTech / vertical SaaS — learning platforms, assessment systems, proctoring, digital content
IPO Size: ~₹500 crore in total
Fresh Issue: ~₹180 crore; Offer for Sale: ~₹320 crore
Price Band: ₹114–₹120 per share
Lot Size: 125 shares
IPO Open Date: 19 Nov 2025
IPO Close Date: 21 Nov 2025
Tentative Allotment Date: 24 Nov 2025
Tentative Listing Date: 26 Nov 2025
Registrar: MUFG Intime India Pvt Ltd
Lead Manager: Anand Rathi Advisors Ltd
2. Business & Growth Story
Excelsoft is a SaaS company focused on EdTech — it builds platforms for learning, assessment, proctoring, and student success. Its global client base includes certification bodies, educational institutions, and testing agencies. The firm earns recurring revenue by locking in long-term contracts, and its product suite spans LMS, assessment, and digital content. With the capital it raises, Excelsoft aims to scale its tech infrastructure and expand geographically.
3. Financial Snapshot
Recent annual revenue: ~₹233 crore
Profit After Tax (PAT): ~₹35 crore
Net margin: ~14-15%, indicating good profitability for a vertical SaaS business
Return ratios (ROE / ROCE): improving, suggesting efficient use of capital
There is some client concentration, but the business is well placed in a niche where EdTech + assessment demand is rising
Exposure to global markets introduces currency risk, which could affect profits depending on forex movements
4. Use of Proceeds
Excelsoft plans to use the fresh IPO funds for:
Acquiring land and building a facility in Mysore
Upgrading its existing facility (electrical, infrastructure)
Enhancing IT infrastructure: software, network, hardware
General corporate purposes to support growth
These investments support both capacity expansion and technology scale-up.
5. Key Risks
Client Concentration: Heavy dependence on a few large customers could pose a risk if relationships weaken
Vertical Risk: Since a significant portion of business is in testing and certification, a slowdown in those sectors can impact revenue
Execution Risk: Scaling globally and rolling out newer products isn’t guaranteed — execution will be key
Currency Risk: Global operations mean forex fluctuations can hit margins
Competition: The EdTech / assessment space is crowded with both global and niche SaaS players
Capital Risk: Using IPO funds effectively is crucial — any misallocation could hurt the business
6. GMP & Listing Outlook
The grey-market premium (GMP) for Excelsoft IPO is modest, implying that listing gains may be limited. While some investors might get a small bump on listing, the real potential could lie in long-term value if the company executes well.
7. My Verdict — Should You Apply?
Watch the entire video to know my verdict
8. What to Watch After Listing
Revenue trajectory — especially in international markets
Profit margin expansion
Client diversification & renewal rates
Recurring revenue metrics — churn, contract renewal
How efficiently the company uses IPO proceeds
Cash-flow generation — operating cash flow should improve in a mature SaaS business
Competitive pressure from other EdTech SaaS players
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🗨️ Comment below: Will you apply for Excelsoft IPO? Why or why not? How many lots are you planning?
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