Excelsoft Technologies files DRHP with SEBI for Rs 700 crore IPO

Excelsoft Technologies, a Karnataka-based vertical SaaS company, has filed its Draft Red Herring Prospectus (DRHP) with the SEBI to raise ₹700 crore through an initial public offering (IPO).

IPO Structure and Details

The proposed IPO comprises a fresh equity issue of up to ₹210 crore and an offer for sale (OFS) of shares worth up to ₹490 crore by the promoters, Pedanta Technologies Private Limited and Dhananjaya Sudhanva.

Utilisation of Funds

The company will not receive any proceeds from the Offer for Sale. 

The Net Proceeds from the fresh issue will be used towards:

• Purchase of land and construction for a new facility
• External electrical system upgrades at the existing facility
• Upgrading IT infrastructure
• Future growth initiatives

Financial Performance

In the financial year 2023-24, Excelsoft reported revenue from operations of ₹198.3 crore and a profit after tax of ₹12.75 crore. 

Company Profile

Excelsoft Technologies is a global vertical SaaS company with over two decades of industry experience. They provide technology-based solutions across diverse learning and assessment segments. As of December 31, 2024, the company caters to 71 clients across 17 countries, including the USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada

Lead Manager

Anand Rathi Advisors Limited is the Book Running Lead Manager for the issue. 

The equity shares are proposed to be listed on both BSE and NSE, subject to regulatory approvals.

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