Excelsoft Technologies Ltd IPO
IT - Software
Price Band
₹114 – ₹120
Lot Size
125
Minimum Bid Quantity
125
Minimum Investment
₹15000
Issue Size
₹500Cr
Opens
2025-11-19
Closes
2025-11-21
Listing
26-11-2025
Subscription Status
Qualified Institutional Buyers
47.55 x
Non-Institutional Investor
101.46 x
Retail Individual Investor
15.01 x
Total
42.83 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE606N01019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Excelsoft Technologies Limited is a global vertical SaaS company specialising in the learning and assessment market. The company offers technology-driven solutions such as its artificial intelligence (AI)-based Saras eAssessment platform and easyProctor product, which are used by certification bodies, educational institutions, corporates, and government entities to conduct secure, large-scale online examinations. Its learning solutions include SARAS Learning Management Systems (LMS), EnablED (a Learning Experience Platform), and OpenPage (a digital interactive book system), serving publishers, universities, and schools for online learning, content management, and analytics. Excelsoft Technologies also provides student success and education technology services that support academic planning, enrolment, and performance tracking. The company operates from its registered office in Mysore, Karnataka, where it maintains research and development (R&D) facilities to support product innovation. As of August 2025, Excelsoft served 76 clients across 19 countries.
Pros
- • Excelsoft Technologies claims to have strong expertise in product engineering, development, and implementation across digital learning, assessment, and information management systems. The company’s products are designed to cover the complete lifecycle of learning and assessment, with a focus on scalability, data security, and user-centric design. It also claims to have extensive experience in migrating legacy systems to cloud environments while ensuring business continuity.
- • The company claims to have established long-term relationships with clients across countries such as the US, UK, India, Singapore, Australia, Japan, and the UAE. Its clientele includes reputed organisations such as Pearson Education, AQA Education, and Brigham Young University, Idaho. Excelsoft’s sustained client partnerships reportedly provide stability, recurring business, and valuable market insights that strengthen its position in the global learning and assessment sector.
- • Excelsoft Technologies claims to have the flexibility to work across diversified technologies to deliver right-fit solutions for clients in learning and assessment. Its teams are skilled in multiple technology stacks and adopt agile methodologies to configure, customise, and integrate platforms according to specific customer requirements. The company also claims to invest regularly in employee upskilling through training, workshops, and masterclasses to stay updated with new technologies such as AI and augmented reality/virtual reality (AR/VR), enhancing its ability to provide scalable, efficient, and customised digital solutions.
Cons
- • Excelsoft Technologies derives a major portion of its revenue from Pearson Education Group. It accounted for Rs 33.00 crore (59.24 percent) of the company’s revenue for the period ended June 30, 2025; Rs 137.15 crore (58.79 percent) in FY25; Rs 92.22 crore (46.51 percent) in FY24; and Rs 81.72 crore (41.89 percent) in FY23. The company’s contracts with Pearson are long-term but can be terminated by Pearson at will or in case of breach, insolvency, or force majeure. Any termination of or reduction in business from this client may significantly impact the company’s revenues, financial condition, and overall business performance.
- • Excelsoft Technologies has provided a corporate guarantee of Rs 300 crore in favour of Vistra ITCL (India) Limited to secure non-convertible debentures issued by its corporate promoter, Pedanta Technologies Private Limited. This guarantee forms a major part of the company’s contingent liabilities, which stood at Rs 303.43 crore, representing 79.80 percent of its net worth, as of June 30, 2025. Any failure by the corporate promoter to repay the loan, resulting in the invocation of this guarantee, may significantly affect the company’s net worth and financial position.
- • Excelsoft Technologies earns a major share of its foreign revenue in US dollars. It accounted for Rs 34.53 crore (61.97 percent) of the company’s total sales for the period ended June 30, 2025; Rs 149.14 crore (63.93 percent) in FY25; Rs 113.84 crore (57.41 percent) in FY24; and Rs 128.5 crore (65.86 percent) in FY23. As the company does not currently hedge its foreign currency exposure, fluctuations in the USD–INR exchange rate affect its earnings and margins. A significant depreciation of the US dollar or volatility in exchange rates can adversely impact the company’s profitability and overall financial position.
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