This 700 Crore IPO Is On Its Way...

Excelsoft Technologies, a SaaS company specializing in technology-based solutions for learning and assessment, has filed its draft red herring prospectus (DRHP) with SEBI for a Rs 700 crore initial public offering. The IPO comprises a fresh issue of equity shares worth Rs 210 crore and an offer-for-sale of Rs 490 crore. The Karnataka-based company plans to use the proceeds for purchasing land, constructing a new building, upgrading facilities, and enhancing IT infrastructure. Excelsoft, which serves 71 clients across 17 countries, reported a net profit of Rs 12.75 crore for fiscal 2024. Anand Rathi Advisors is the sole book-running lead manager for the issue.
Source: Moneycontrol and Business Standard