Excelsoft Technologies Files IPO Draft With SEBI For ₹700 Crore Listing

On March 2, 2025, global vertical SaaS firm Excelsoft Technologies announced that it has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for approval. The company aims to raise ₹700 crore through an initial public offering (IPO).

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IPO Structure and Fund Utilization

As outlined in the DRHP, the proposed IPO consists of two components:

• A fresh equity issue amounting to ₹210 crore
• An offer for sale (OFS) of ₹490 crore by Pedanta Technologies Private Limited and Dhananjaya Sudhanva, the promoter selling shareholders.

The net proceeds from the fresh issue will be used primarily for capital expenditure, including the acquisition of land, construction of a new facility, and enhancement of external electrical systems at its Mysore campus. 

Additionally, Excelsoft Technologies plans to invest in upgrading its IT infrastructure, which covers software, hardware, and communication & network services. A portion of the funds will also be reserved for general corporate purposes to support its ongoing growth initiatives.

Pre-IPO Placement Consideration

Excelsoft Technologies, in consultation with its Book Running Lead Managers (BRLMs), is considering a Pre-IPO Placement of up to ₹30 crore through additional equity issuance or a secondary share sale of up to ₹240 crore. If the company proceeds with this Pre-IPO Placement, the fresh issue size will be revised accordingly before the Red Herring Prospectus (RHP) is filed with the Registrar of Companies (ROC).

Anand Rathi Advisors Limited has been appointed as the Book Running Lead Manager for the IPO, responsible for managing the issuance process and ensuring regulatory compliance.

Excelsoft Technologies: A Leader in Learning Solutions

Founded over two decades ago, Excelsoft Technologies has built a strong reputation in the learning and assessment technology sector. The company provides innovative, technology-driven solutions to enterprises, universities, and educational institutions worldwide. Its offerings include e-learning platforms, assessment solutions, and content management systems, which help organizations streamline their learning and training processes.

With a focus on long-term partnerships, Excelsoft Technologies has secured contracts with several global enterprises and educational institutions. As of December 31, 2024, the company serves 71 clients across 17 countries, including the United States, United Kingdom, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada.

Growth Strategy and Market Position

The global education technology (EdTech) market is experiencing rapid expansion, driven by the increasing adoption of digital learning platforms and AI-driven assessment tools. Excelsoft Technologies, with its strong presence in this domain, is well-positioned to capitalize on this trend. The company’s proprietary technology solutions, scalable infrastructure, and strong client relationships give it a competitive edge in the market.

The planned IPO is expected to enhance the company’s financial strength, enabling further investment in R&D, talent acquisition, and global expansion. With rising demand for online education and remote learning solutions, Excelsoft Technologies is set to benefit from the industry's evolving landscape.

Excelsoft Technologies’ IPO filing marks a significant milestone in its journey toward expanding its global footprint and strengthening its market position. With a well-defined growth strategy, strong financial backing, and a proven track record, the company is poised for sustained growth in the learning and assessment technology sector. Investors and market analysts will closely watch the IPO proceedings as the company gears up for its next phase of development.