Excelsoft Technologies Ltd is launching a ₹500 crore book-built IPO, comprising a fresh issue of 1.5 crore shares worth ₹180 crore and an offer for sale of 2.67 crore shares totalling ₹320 crore.
The IPO will open for public subscription on November 19, 2025, and close on November 21, 2025. The basis of allotment is expected on November 24, 2025, while the company’s shares are likely to list on the BSE and NSE on November 26, 2025.
The price band is fixed between ₹114 and ₹120 per share, with a lot size of 125 shares. The minimum investment for retail investors is ₹15,000, while sNII investors can bid for a minimum of 14 lots (₹2,10,000) and bNII investors for 67 lots (₹10,05,000).
Anand Rathi Advisors Ltd serves as the book-running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar to the issue.
Excelsoft Technologies IPO Objectives
The company plans to utilise the funds raised from the IPO for the following purposes:
- Purchase of land and construction of a new building at its Mysore property, with an estimated investment of ₹719.66 million.
- Upgradation and enhancement of the existing facility in Mysore, including improvements to external electrical systems, costing around ₹395.11 million.
- Modernisation of IT infrastructure, covering software, hardware, and communication & network services, estimated at ₹546.35 million.
- General corporate purposes, to support overall business growth and operational requirements.
About Excelsoft Technologies Limited
Founded in 2000, Excelsoft Technologies Limited is a global vertical SaaS company that focuses on the learning and assessment technology market. The company offers a comprehensive suite of AI-powered platforms and digital solutions, including test and assessment systems, online proctoring tools, learning experience platforms (LXP), student success platforms, and digital eBook solutions.
Its flagship product, SARAS LMS, along with EnablED LXP and OpenPage digital books, provides personalised learning support to academic institutions and corporations, helping them manage training, development, and performance enhancement effectively.
Excelsoft caters to a wide customer base comprising educational publishers, universities, schools, government bodies, defence organisations, and enterprises. Operating across India, Malaysia, Singapore, the UK, and the USA, the company partners with over 200 global organisations, reaching more than 30 million learners worldwide.
Some of its key clients include Pearson Education, AQA Education, Colleges of Excellence, Ascend Learning LLC, and Brigham Young University – Idaho. As of June 30, 2025, the company employs 1,118 professionals.
Excelsoft’s strength lies in its deep expertise in digital learning, assessments, and information management systems, supported by a strong track record in product engineering and implementation. It maintains long-term client relationships, leverages agile methodologies, and is backed by an experienced management team with proven capabilities in developing globally compliant learning solutions.
Industry Outlook
- The Learning and Development (L&D) industry focuses on enhancing employee skills, knowledge, and performance to drive organisational growth. It combines formal training programs and informal learning experiences aligned with talent and performance development goals.
- As businesses embrace digital transformation, the demand for a technologically skilled workforce has surged. L&D now plays a crucial role in addressing skill gaps and fostering digital literacy, ensuring employees are equipped for evolving workplace needs.
- The future of L&D is being reshaped by rapid automation and AI advancements. While automation could displace around 85 million jobs by 2025 (WEF), it also opens opportunities to integrate technology-driven learning models that prepare employees for new-age roles.
- The global L&D market was valued at $390.20 billion in 2024 and is projected to reach $587.61 billion by 2030, expanding at a CAGR of 7.06%.
- Regionally, the L&D market’s growth is influenced by economic maturity, technological infrastructure, cultural attitudes toward education, and government initiatives. Developed regions lead adoption through advanced technologies, while emerging markets are witnessing rapid digital upskilling initiatives.
How To Apply for the Excelsoft Technologies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Excelsoft Technologies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Excelsoft Technologies IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Excelsoft Technologies Limited
Registered office: Excelsoft Technologies Ltd., 1-B, Hootagalli Industrial Area, Mysuru, Karnataka, 570018
Phone:+91 821 428 2247
E-mail:ipo@excelsoftcorp.com
Website: http://www.excelsoftcorp.com/
Excelsoft Technologies IPO Reservation
| Investor Category | Shares Offered |
| Qualified Institutional Buyers (QIB) | Not more than 50% of the Net Offer |
| Retail Individual Investors (RII) | Not less than 35% of the Net Offer |
| Non-Institutional Investors (NII) | Not less than 15% of the Offer |
Excelsoft Technologies IPO Promoter Holding
Pedanta Technologies Private Limited, Dhananjaya Sudhanva, Lajwanti Sudhanva and Shruthi Sudhanva are the company promoters.
| Share Holding Pre-Issue | 94.60% |
| Share Holding Post Issue | NA |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Excelsoft Technologies IPO
| KPI | Value |
| Return on Equity (ROE) | 10.38% |
| Return on Capital Employed (ROCE) | 16.11% |
| Debt-to-Equity Ratio | 0.05 |
| Return on Net Worth (RoNW) | 10.38% |
| PAT Margin | 14.87% |
| EBITDA Margin | 31.40% |
| Price to Book Value | 3.23 |
| Market Capitalization | ₹1,381.01 crore |
Excelsoft Technologies IPO Prospectus
Excelsoft Technologies IPO Registrar and Lead Managers
Excelsoft Technologies IPO Lead Managers
- Anand Rathi Advisors Ltd
Registrar for Excelsoft Technologies IPO
MUFG Intime India Pvt.Ltd.
- Phone: +91-22-4918 6270
- Email: excelsofttechnologies.ipo@linkintime.co.in
- Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Financial Performance of Excelsoft Technologies Limited
| Particulars | Year ended as of Mar 31 2025 | Year ended as of Mar 31 2024 | Year ended as of Mar 31 2023 |
| Assets (₹ Cr) | 470.49 | 421.03 | 436.13 |
| Total Income (₹ Cr) | 248.80 | 200.70 | 197.97 |
| Profit After Tax (PAT) (₹ Cr) | 34.69 | 12.75 | 22.41 |
| EBITDA (₹ Cr) | 3.14 | 54.97 | 68.18 |
| Net Worth (₹ Cr) | 371.29 | 297.30 | 278.08 |
| Reserves and Surplus (₹ Cr) | 269.66 | 295.71 | 276.48 |
| Total Borrowing (₹ Cr) | 26.59 | 76.73 | 118.09 |
Excelsoft Technologies Limited Peer Comparison
| Name of the Company | Total Revenue (₹ in million) | EPS (₹) | P/E Ratio | RoNW (%) |
| Excelsoft Technologies Ltd. | 2,332.91 | 3.47 | NA | 10.38 |
| MPS Ltd. | 7,268.89 | 87.80 | 26.17 | 31.74 |
| Ksolves India Ltd. | 1,374.33 | 14.47 | 22.42 | 153.95 |
| Silver Touch Technologies Ltd. | 2,883.80 | 17.50 | 41.07 | 18.00 |
| Sasken Technologies Ltd. | 5,509.14 | 33.30 | 42.19 | 6.36 |
| InfoBeans Technologies Ltd. | 3,947.80 | 15.59 | 32.54 | 12.09 |
Strengths and Opportunities of Excelsoft Technologies Limited
- Excelsoft has extensive experience in product design, development, and implementation across learning, assessment, and digital information systems.
- The company delivers end-to-end learning and assessment products that cover the entire training lifecycle, offering customised solutions through a consultative and technology-driven approach.
- Excelsoft maintains long-term partnerships with major clients like Pearson Education, AQA Education, and Ascend Learning across regions, including the USA, UK, Singapore, and India.
- With subsidiaries in the UK, USA, Singapore, and India, and a presence in Dubai, the company offers globally compliant learning and assessment solutions.
- Excelsoft’s strength lies in its ability to work with multiple technologies and adopt agile methodologies.
- The company follows well-defined operational parameters for efficiency, accountability, and scalability.
- Led by Mr. Dhananjaya Sudhanva (CMD) and Ms. Shruthi Sudhanva (Whole-Time Director), the management brings decades of experience in IT, education technology, and strategic business growth, driving innovation and expansion.
Risks and Threats of Excelsoft Technologies Limited
- A major portion of Excelsoft’s revenue (over 59% in Q1 FY26) comes from Pearson Education Group.
- The company has provided a ₹3,000 million corporate guarantee (around 80% of its net worth) for debentures issued by its promoter, Pedanta Technologies Pvt. Ltd..
- There have been delays in filings under FEMA and with the RBI. While these have been regularised, future non-compliance could attract penalties and harm the company’s reputation.
- A portion of IPO proceeds will be used to buy land in Mysore. Since the final sale deed is yet to be executed, any delay or failure in completing this transaction may affect project timelines and fund utilization.
- The IT and SaaS industries evolve quickly. Failure to innovate or keep up with new technologies could reduce competitiveness and impact customer retention.
- Software errors, bugs, or configuration issues could harm the company’s reputation, cause financial losses, and lead to customer dissatisfaction or legal claims.
- The company has outstanding debt of ₹379 million. High debt levels could increase financial risk, reduce flexibility, and affect profitability in adverse market conditions.
