Excelsoft Technologies, a Karnataka-based SaaS company focusing on the learning and assessment solutions, is set to hit Dalal Street with its Rs 500-crore initial public offering (IPO) on November 19. The price band for the offer will be disclosed on November 13.

The company aims to raise Rs 180 crore by issuing fresh shares, while promoter Pedanta Technologies will be selling shares worth up to Rs 320 crore via offer-for-sale.

The offer size has been reduced from Rs 700 crore planned earlier as per the draft document filed with the SEBI in February this year. The capital markets regulator approved the IPO papers in July. The earlier offer comprised of fresh issue of Rs 210 crore worth shares, and an offer-for-sale of shares worth Rs 490 crore.

Promoters own 94.60 percent stake in the company, and the remainder 5.4 percent shares are held by the public.

The one-day IPO anchor book will be launched on November 18, while the issue will remain open for the public subscription till November 21.

The IPO share allotment will be finalised by November 24, while Excelsoft shares will be available for trading on the BSE and NSE effective November 26.

Incorporated in 2,000, Excelsoft Technologies that provides technology-based solutions across diverse learning and assessment segments through long-term contracts with enterprise clients worldwide intends to spend Rs 61.7 crore of fresh issue proceeds for purchase of land and construction of new building at the Mysore property, and Rs 39.5 crore for upgradation including external electrical systems of existing facility at Mysore.

Further, Rs 54.6 crore will be utilised for upgradation of company’s IT infrastructure (software, hardware and communications & network services), and the remainder funds for general corporate purposes.

Excelsoft, which competes with listed peers like MPS, Ksolves India, Silver Touch Technologies, Sasken Technologies, and InfoBeans Technologies, has reported profit at Rs 6 crore on revenue of Rs 55.7 crore for the quarter ended June 2025.

Profit in the fiscal 2025 grew by 172 percent to Rs 34.7 crore, up from Rs 12.8 crore in previous fiscal. Revenue during the same period increased 17.6 percent to Rs 233.3 crore, up from Rs 198.3 crore.

Anand Rathi Advisors is the sole book running lead manager handling the Excelsoft Technologies IPO.