Upcoming IPO: Excelsoft Technologies gets SEBI nod to raise ₹700 crore through the public issue
The Karnataka-based Excelsoft Technologies was incorporated in 2000 as a global vertical SaaS company. Since then, it has been providing technology-based solutions across diverse learning and assessment segments through its cloud-based platforms, according to company data.
The company has 71 clients, which are spread across 17 countries, including the US, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE and Canada.
Pearson Education, Inc., AQA Education, Colleges of Excellence, NxGen Asia PTE LTD., Pearson Professional Assessments Limited, Sedtech for Technology Education & Learning WLL, and Ascend Learning LLC, are some of the top clients for the company.
Excelsoft Technologies is offering a book-built public issue comprising a fresh issue of up to ₹ 210 crore, and an offer for sale (OFS) component of up to ₹ 490 crore, as the company aims to raise ₹ 700 crore from the Indian stock market, according to the draft papers.
Mint reported earlier that the company promoters, Pedanta Technologies Private Limited and Dhananjaya Sudhanva, are selling their stake in the company through the IPO round.
The company aims to use the money raised from the public issue to fund capital expenditures, including the purchase of land, the construction of a new building, and the upgrading of the external electrical systems of its Mysore facility.
The company will also fund the upgrade of the IT Infrastructure, and the rest will be used for general corporate purposes.
Anand Rathi Advisors Limited is the book-running lead manager of the public issue, while MUFG Intime India Private Limited (Link Intime) is the registrar of the offer.
Read all stories by Anubhav Mukherjee
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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