Excelsoft Technologies IPO Day 3 Update: 10.42x Subscription, GMP & Key Dates

We’re seeing strong buzz around the Excelsoft Technologies IPO. On Day 3, the issue is reportedly subscribed to 10.42×, which shows high investor demand. With that kind of traction, it’s worth looking closely at the grey market premium (GMP), what’s driving the excitement, and the key dates ahead. We will analyze all of that and help you decide whether Excelsoft’s public offering can deliver real value.

Overview of Excelsoft Technologies

Excelsoft Technologies is a global vertical SaaS company that specializes in learning and assessment solutions. It offers AI-driven learning platforms, online test and assessment tools, proctoring, digital eBooks, and student success platforms. Founded in 2000, the company has grown over the years to serve educational institutions, publishers, corporates, and government agencies across multiple countries. Because of its focus on EdTech and assessment, Excelsoft is well-positioned amid the rising demand for online learning and evaluation tools.

IPO Details

Here are the key details for the Excelsoft IPO:

• IPO Size: ₹ 500 crore total.
• Fresh Issue: ₹ 180 crore.
• Offer for Sale (OFS): ₹ 320 crore.
• Price Band: ₹ 114–120 per share.
• Lot Size: 125 shares.
• Minimum Investment: ~₹ 15,000 (based on upper price band).
• IPO Timeline: Opens 19 Nov 2025, closes 21 Nov 2025.
• Allotment Date: ~24 Nov 2025.
• Refunds / Credit: Expected on 25 Nov 2025.
• Listing Date: Likely on 26 Nov 2025 on both BSE and NSE.

Subscription Status Update, Day 3

On the third day of bidding, the IPO has reportedly achieved 10.42× subscription, which is very strong. While detailed category‑wise numbers (QIB, NII, Retail) for Day 3 are still emerging, earlier days give us context:

• On Day 1, the IPO was subscribed 1.45× overall.
• By Day 2, subscription had jumped to 4.3×, with particularly strong interest.

This upward momentum suggests that demand is not just front-loaded but continues to build. Such strong subscription numbers on Day 3 mean investors are very bullish.

Grey Market Premium (GMP) & Market Sentiment

Grey Market Premium (GMP) is a key sentiment gauge. For Excelsoft:

• As per India Today, the GMP stood at ₹ 16 (last recorded on Nov 18, 2025).
• Given the upper price band of ₹ 120, this GMP implies a potential listing price near ₹ 136, which is about 13.33% upside.

Why does GMP matter? It shows what investors in the unofficial market are willing to pay, and a positive GMP usually signals optimism for good listing gains. Here, the ₹ 16 premium isn’t trivial; it suggests confidence in Excelsoft’s post-listing appeal.

Key Dates & Timeline

Here’s a quick timeline of the IPO’s major milestones:

These dates are critical for anyone applying because they tell you when to check for allotment, when to expect refunds, and when trading may begin.

Factors Driving IPO Demand

So what’s fueling the strong demand? A few key factors:

• EdTech Tailwinds: Excelsoft’s core business is in digital learning, assessments, and proctoring, areas that are growing rapidly in both educational and corporate sectors.
• SaaS Strength: As a vertical SaaS business, Excelsoft is not just a general software company. It has deep domain expertise, which gives it an edge.
• Institutional and Retail Appetite: The early-day subscription numbers show that both institutional investors and retail investors are backing the IPO.
• Use of IPO Funds: The company plans to use the proceeds for meaningful growth, buying land and building a new facility in Mysore, upgrading existing infrastructure, and strengthening its IT platform.
• Strong Financials: According to its prospectus, Excelsoft has healthy financial metrics. For instance, as per IPOInvestors, its P/E ratio (at the upper band) is 34.62x with an EPS of ₹ 3.47 (as of March 2025).

Conclusion

To wrap up: the Excelsoft Technologies IPO is shaping up to be one of the more interesting tech‑EdTech offerings this season. With a 10.42× subscription on Day 3 and a GMP of ₹ 16, investor interest is notably strong. The company’s business, rooted in SaaS-based learning and assessment, is well-aligned with current digital education trends. However, while the numbers look good, it’s not risk-free. Valuation and execution remain key. For long-term investors, Excelsoft could be a solid bet if it continues to grow its platform and scale globally. For short-term IPO plays, much will depend on how the grey market sentiment translates into actual listing performance.

If you’re considering applying, make sure to watch the allotment date (24 Nov) and listing date (26 Nov) closely. And as always: do your own research, check your risk appetite, and consider diversifying rather than putting all your eggs in one IPO basket.

FAQS

Disclaimer:

The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.