The highly anticipated initial public offering (IPO) of Excelsoft Technologies Ltd, a provider of SaaS solutions and services, has concluded its subscription period, witnessing robust demand from investors across categories. The focus has now shifted to the finalization of the share allotment, a critical step before the company's stock market debut.
Key Dates and Allotment Process
The Excelsoft Technologies IPO allotment date is expected to be finalized on November 24, 2024. This follows the public issue's subscription window, which was open from November 19 to November 21. The delay in the allotment announcement is due to the weekend falling on November 22 and 23.
Once the basis of allotment is fixed, the company will credit equity shares to the demat accounts of successful allottees on November 25. Refunds for unsuccessful bidders will also be initiated on the same day. The final milestone, the IPO listing date, is set for November 26, when the shares will commence trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
How to Check Your IPO Allotment Status
Investors who applied for the IPO can check their allotment status through multiple online portals. The process is straightforward and requires basic application details.
Via BSE Official Website
Visit the BSE website's designated allotment page. Select 'Equity' as the Issue Type and choose 'Excelsoft Technologies Limited' from the dropdown menu. You will need to enter your Application Number or PAN details to view your status.
Via NSE Official Website
Go to the NSE's IPO bids verification page. After selecting 'Equity and SME IPO bids' and choosing the company name, input your PAN and Application Number to retrieve your allotment status.
Via the Registrar's Portal
The official registrar for this IPO is MUFG Intime India Pvt. Ltd. You can visit their website, select the company, and enter details such as your PAN, Application Number, DP ID, or Account Number to check the status.
IPO Subscription and Financial Details
The public issue demonstrated remarkable investor confidence, with the overall subscription reaching an impressive 43.19 times. A deeper look reveals overwhelming interest from different investor classes. The Non-Institutional Investors (NII) segment was booked a staggering 101.69 times, while the Qualified Institutional Buyers (QIB) category was subscribed 47.55 times. Retail Individual Investors (RIIs) also showed strong participation, subscribing their portion 15.62 times.
The company set a price band of ₹114 to ₹120 per share, with the upper end being the final issue price. Through this book-building issue, Excelsoft Technologies raised a total of ₹500 crore. This comprised a fresh issue of 1.50 crore shares worth ₹180 crore and an offer for sale (OFS) of 2.67 crore equity shares amounting to ₹320 crore. Anand Rathi Advisors Ltd. acted as the book running lead manager for the offer.
Grey Market Premium and Listing Expectations
In the unofficial grey market, Excelsoft Technologies shares are commanding a modest premium. The current Grey Market Premium (GMP) is ₹8 per share. This indicates that the estimated listing price is around ₹128 per share, which would represent a premium of nearly 7% over the IPO price of ₹120. This positive signal suggests a likely gainful listing for investors who receive an allotment.
