Excelsoft Technologies files for Rs 700 crore IPO

Excelsoft Technologies has submitted its draft red herring prospectus to the Securities and Exchange Board of India (Sebi) for a Rs 700 crore initial public offering (IPO). This includes a fresh equity sale of Rs 210 crore and an offer for sale of Rs 490 crore. The funds will be used for capital expenditures, including land purchase and facility upgrades in Mysore, as well as IT infrastructure improvements. Excelsoft may also consider a pre-IPO placement of up to Rs 30 crore. With over 20 years of experience, Excelsoft serves 71 clients in 17 countries, including major names like Pearson Education. The company reported Rs 198.3 crore in revenue for FY24, with a profit after tax of Rs 12.75 crore.