Excelsoft Technologies IPO: Check allotment status, odds of getting shares, GMP & more

Excelsoft Technologies is scheduled to finalize the basis of allotment of its shares on Monday, November 24. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, November 25. The SaaS-based learning and assessment strong response from the investors.

The IPO of Excelsoft Technologies was open for subscription between November 19 and November 21. It had offered its shares in the price band of Rs 114-120 per share with a lot size of 125 shares. The company raised a total of Rs 500 crore from its IPO, which included a fresh share sale of Rs 180 crore and an offer-for-sale (OFS) of up to 2,66,66,666 equity shares worth Rs 320 crore.

The issue was overall subscribed a total of 43.19 times, attracting bids over Rs 15,910 crore through nearly 17.49 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed 15.62 times, while non-institutional investors (NIIs) quota was booked 101.69 times. The allocation for retail investors were subscribed 47.55 times during the three-day bidding process.

Based on the bidding, here are the odds of allotment for IPO of Excelsoft Technologies:

• Big HNI category: 1 investors out of 14 investors will get 125 shares (Probability: 7.14 per cent)
• Small HNI category: 1 investor out of 73 investors will get 1,750 shares (Probability: 1.37 per cent)
• Retail category: 1 investor out of 25 investors will get 1,750 shares. (Probability: 4 per cent)

The grey market premium (GMP) of Excelsoft Technologies has seen a sharp correction despite getting strong bids led by muted market sentiments. Last heard, it was commanding a premium of Rs 8-10 in the unofficial market, suggesting a listing pop of 7-8 per cent for the investors. The GMP stood around Rs 14-16 during the bidding period.

Incorporated in 2000, Mysuru-based Excelsoft Technologies is a global vertical SaaS company specialising in the learning and assessment market. The company provides AI-powered applications, test and assessment platforms, online proctoring solutions, learning experience platforms, student success platforms, and digital eBook platforms.

Anand Rathi Advisors is sole the booking running lead managers for the IPO of Excelsoft Technologies, while MUFG Intime India is the registrar for the issue. Refund initiations and credit of shares is likely to be done by Tuesday, November 25. Shares of Excelsoft Technologies shall be listed on both NSE and BSE on Wednesday, November 26.

Investors, who had bid for the issue of Excelsoft Technologies, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Excelsoft Technologies Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1. Go to the web portal of MUFG Intime India Limited
2. Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.