IPO calendar: Excelsoft will lead a quiet week as mainboard action slows, but listings abound

Next week’s IPO calendar is relatively short, with only two offerings opening on November 19. The mainboard spotlight is firmly on Excelsoft Technologies, while the SME segment will see the launch of Gaillard Steel. Activity has eased after a run of problems, leaving Excelsoft as the only mainboard listing for investors to closely track.

However, as many as 8 listings of IPOs that closed last week or are currently open will keep Dalal Street busy. Notable debuts include Fujiyama Power, Physixwallah, Capillary Technology.

Excelsoft Tech IPO

Excelsoft Technologies, a global vertical SaaS company specializing in learning and assessment solutions, has raised Rs. 500 crore IPO will open on November 19 and close on November 21. In this issue Rs. 180 crore fresh issue and Rs. 114-120 per share for sale with a price band of Rs. 320 crore offer included.

The company will purchase land in Mysore and build a new facility at Rs. 62 crore, to upgrade its existing Mysore unit at Rs. 39.51 crore and to strengthen IT infrastructure Rs. 54.63 crore is planned to be used, the rest will go towards general corporate purposes.

Backed by more than two decades in the education-technology space, Excelsoft serves 76 customers in 19 countries, including the US, UK, Singapore, Australia, Japan and UAE. Its client roster includes Pearson Education, AQA Education, Ascend Learning and Brigham Young University – Idaho.

Company in FY25 Rs. 233.29 crore revenue and Rs. 34.69 crore profit was recorded. RHP highlights the rapid expansion of vertical SaaS globally, with AI-enabled learning and proctoring tools emerging as key growth drivers.

Anand Rathi Advisors is the sole book-running lead manager, and the shares are proposed to be listed on both BSE and NSE.

Along with Excelsoft, SME platform Gaillard Steel’s Rs. 37.5 crore will see the launch of the IPO, which will open on November 19 and close on November 21. per share Rs. 142-150, the company will be listed on the BSE SME Exchange. The SME issue is significantly smaller in size but adds to the week’s limited pipeline.

With only one mainboard and one SME listing, next week marks a quieter phase for the primary market. All eyes will be on Excelsoft’s subscription trends to gauge investor appetite as the year winds down.

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