365Telugu.com online news,March 7th,2025: Excelsoft Technologies Limited, a leading global vertical SaaS provider in the learning and assessment sector, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth ₹700 crore.
The IPO will comprise a fresh issue of equity shares amounting to ₹210 crore and an offer for sale (OFS) of ₹490 crore by promoter selling shareholders Pedanta Technologies Private Limited and Dhananjaya Sudhanva.
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According to the DRHP, the company plans to utilize the net proceeds from the fresh issue for capital expenditure, including the purchase of land, construction of a new facility, and upgrades to its existing infrastructure in Mysore.
Additionally, funds will be allocated to enhance IT infrastructure, including software, hardware, and communication networks, along with general corporate purposes.
With over 20 years of industry expertise, Excelsoft Technologies provides cutting-edge learning and assessment solutions through long-term partnerships with global enterprises. As of December 31, 2024, the company serves 71 clients across 17 countries, including the USA, UK, India, Singapore, Australia, Japan, Malaysia, Saudi Arabia, UAE, and Canada.
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For FY24, Excelsoft recorded a revenue of ₹198.3 crore, with a net profit of ₹12.75 crore. The DRHP notes that no publicly listed companies in India have a business model or segment composition similar to Excelsoft Technologies.
The global SaaS industry is witnessing rapid expansion, with vertical SaaS gaining traction as a specialized, industry-focused solution. According to an Arizton report, vertical SaaS is projected to grow at a faster pace than general SaaS, potentially comprising nearly 50% of the overall SaaS market by 2030.
Anand Rathi Advisors Limited has been appointed as the Book Running Lead Manager for the IPO. Excelsoft Technologies’ equity shares are proposed to be listed on both the BSE and NSE.