Excelsoft Technologies’ public issue has turned out to be a major attraction for investors of all kinds, with the IPO receiving an impressive 43 times more bids than the shares available. The response reflects the market’s growing appetite for mid-sized tech companies that show steady growth and reliable business fundamentals.
By the time bidding closed, Excelsoft had collected requests for over 1.32 billion shares, though only 3.07 crore shares were up for grabs. Most of the excitement came from institutional and wealthy investors, but retail investors, too, put in strong numbers.
The Qualified Institutional Buyers (QIBs) segment led the charts with bids at 47.55 times the quota, signalling strong confidence from professional funds. The non-institutional investor (NII) category, often dominated by high-net-worth individuals, showed even higher enthusiasm with a massive 101.69 times subscription. Retail investors also played their part, offering a healthy 15.62 times subscription for their portion.
Now that the rush of applications is over, attention has shifted to the allotment process, which determines who actually secures shares. Applicants can check their allotment on the BSE website or through the registrar, MUFG Intime India, by using their application number, PAN, or Demat details.
While the company awaits official listing, the activity in the grey market offers early hints about investor expectations. Unlisted shares of Excelsoft were trading at around ₹128, suggesting a premium of about ₹8 over the issue’s upper price band of ₹120. Though the GMP is modest, it does reflect positive sentiment and the possibility of a stable debut.
The IPO, open from November 19 to 21, will now move through the final steps, refunds and share credits are scheduled for November 25, followed by the long-awaited listing on both BSE and NSE on November 26.
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