Excelsoft technologies Through its public issue, he is planning to raise funds up to Rs 700 crore. On February 28, the company filed a draft red hering prospectus near the capital market regulator SEBI. Accordingly, the IPO will have new equity shares worth Rs 210 crore. Apart from this, sales of shares worth Rs 490 crore will also be offered. The company’s promoter Pedantha Technologies will sell Rs 340 crore and Dhananjay Sudhanwa Rs 150 crore through the offer-for-cell.
Excelsoft Technologies is a SAAS (Software a Service) company. It provides technology-based solutions for teaching and evaluation. The company can consider raising up to Rs 270 crore in the pre-IPO round. Excelsoft said, “If the pre-IPO placement is done, the amount raised through the size of the new share issue and/or sales in the IPO will be reduced.”
How will the amount obtained from IPO be used?
Excelsoft wants to use the income received from issuing new shares in IPO to buy land and construct a new building; The project is for upgrading the current facility in Mysore, Karnataka and the installation of the external electrical system. In addition, this amount will also be used for upgradation of IT infrastructure and general corporate purposes. Anand Rathi Advisors is the only book running lead manager for this IPO.
Excelsoft technologies financial status
Excelsoft technologies serve 71 customers in 17 countries. The company recorded a net profit of Rs 12.75 crore in FY 24. This is much lower than the profit of Rs 22.4 crore in the previous year. During the same period, the company’s revenue rose slightly to Rs 198.3 crore on an annual basis, which was Rs 195.1 crore in FY 23.
