Excelsoft Technologies Ltd, a SaaS company specializing in the learning and assessment market, has submitted its draft red herring prospectus (DRHP) to SEBI for an initial public offering (IPO) to raise ₹700 crore.
The IPO will consist of a fresh issue of equity shares worth ₹210 crore and an offer for sale (OFS) of ₹490 crore by promoter selling shareholders — Pedanta Technologies Private Ltd and Dhananjaya Sudhanva.
The company intends to use the funds from the IPO for various purposes, including capital expenditure such as acquiring land and constructing a new building, upgrading external electrical systems at its Mysore facility, enhancing IT infrastructure, covering software, hardware, and communication & network services, and for general corporate purposes.
Excelsoft currently serves 71 clients in 17 countries, including the USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada. In FY24, the company reported revenue from operations of ₹198.3 crore and a profit after tax (PAT) of ₹12.75 crore.
The filing date for the DRHP was March 2, 2025.
