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₹120 - 120
Excelsoft Technologies Ltd
IT - SoftwareIPO
₹120 - 120
Our Company is a global vertical SaaS company focused on the learning and assessment market. As per Arizton Report, the global SaaS market has seen rapid growth, with vertical SaaS emerging as a dominant trend that promises specialized, industry-tailored solutions. This shift has positioned vertical SaaS to grow at an even faster pace than general SaaS, with estimates suggesting that vertical SaaS could account for nearly 50% of the SaaS market by 2030. With over two decades of experience, we provide technology-based solutions across diverse learning and assessment segments through long-term contracts with enterprise clients worldwide. Our platforms are cloud-based with open and industry standards-compliant APIs, ensuring scalability across organizations and users. Security and performance are core to our product offerings.
Lot125Min Invest₹15,000Face Value₹10Issue Size₹500 CrFresh Issue₹180 CrOffer for Sale₹320 CrListing Price₹135CMP₹76
Timeline
19 Nov
Bidding opens
21 Nov
Bidding closes
24 Nov
Allotment
25 Nov
Refund & demat credit
26 Nov
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹500 Cr4.17 Cr shares
Fresh Issue₹180 Cr
Offer for Sale₹320 Cr
Face Value₹10
Lot Size125 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹15,0001-13 lots
sNII₹2,10,000from 14 lots
bNII₹10,05,000from 67 lots
Managers & Registrar
Lead ManagerAnand Rathi Advisors Ltd
RegistrarMUFG Intime India Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrPedanta Technologies Private LimitedPRMTR2,66,66,666320.00Total2,66,66,666320.00
Shareholding
CategoryPre IPOPost IPOPromoter Group94.6%59.09%Public5.4%40.91%
Objects of the Issue
- Funding fo capital expenditure for purchase of land and construction of new building at the mysore property
- Funding expenditure for upgradation including external electrical systems of the company existing facility at Mysore, India.
- Funding upgradation of the company's IT infrastructure (software, hardware and communications and network services)
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 195 | 198 | 233 | 273 | 297 |
| Operating ProfitCr | 68 | 55 | 72 | 73 | 75 |
| OPM% | 34.9 | 27.7 | 31.1 | 26.8 | 25.2 |
| PBTCr | 30 | 18 | 60 | 59 | 62 |
| PATCr | 22 | 13 | 35 | 43 | 47 |
| EPS | 2 | 1 | 3 | 4 | 4 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 2 | 2 | 100 | 115 | - |
| ReservesCr | 276 | 296 | 271 | 463 | - |
| BorrowingsCr | 121 | 78 | 35 | 7 | - |
| Fixed AssetsCr | - | - | 135 | 176 | - |
| Total AssetsCr | 436 | 421 | 469 | 678 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 56 | 56 | 52 | 50 | - |
| Investing Cash FlowCr | -15 | -16 | 7 | -156 | - |
| Financing Cash FlowCr | -27 | -52 | -56 | 130 | - |
| Net Cash FlowCr | 14 | -12 | 4 | 24 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- Expertise in product engineering, development and implementation across assessments, digital learning & information management systems with robust product capabilities.
- Long term relationships with global customers.
- Expertise in delivering fully compliant digital learning and assessment solutions to clients globally.
- Flexibility to work with diversified technologies to provide the right-fit solution, driven by agile methodologies.
- Robust Operating Parameters.
- Experienced Management Team and Promoters with expertise in developing products, backed by a professional management team and experienced board driving high corporate governance standards.
Strategies · as stated in the DRHP
- To increase revenue from the existing customers and acquire new customers.
- To position our brand in the right manner.
- To innovate and improve the portfolio of our existing products and to create new products as per the need of the market.
- Augment sales & marketing efforts by having a team across different geographies.
- Look for synergistic acquisition opportunities to expand faster in the education technology market.
- To venture into the AI spectrum and develop AI based products.
Risks · as stated in the DRHP
- Its business subjects the company to risks in multiple countries where subsidiary companies and its customers are situated. The company derives a significant portion of its revenues from clients located in the United States of America, Singapore and the United Kingdom. Should the company expand its business operations in these jurisdictions and to other geographies, any adverse developments in these markets could adversely affect its business.
- A significant portion of its revenue over the last three Fiscals and the six months period ended September 30, 2024, is derived from Pearson Education Group. Any decrease in revenues from Pearson Education Group or any loss of business from Pearson Education Group may adversely affect its business, financial condition, cash flows and results of operations.
- Its ability to retain the customers is heavily dependent upon various factors including its reputation and the company ability to maintain a high level of service quality including its satisfactory performance for the customers. Any failures by it to retain or attract customers may impact its business and revenues.
- The company depends on certain key customers for a significant portion of its revenues (the company top 5, top 10 and top 20 customers contributed to 59.53%, 72.16% and 87.33%, respectively, of its revenue from operations in Fiscal 2024). Any decrease in revenues from any of its key customers or any loss of these customers may adversely affect the company business, financial condition, cash flows and results of operations.
- The Company had negative cash flow during certain fiscal years. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
- The commercial success of its services depends to a significant extent on the success of the end use customers. If there is any downturn in the industries in which the company customers operate, it could have a material adverse effect on its business, financial condition and results of operations.