The initial public offering (IPO) of Excelsoft Technologies, a specialized global vertical SaaS company focused on the learning and assessment market, opened for subscription on November 19, 2025, with the final bidding day scheduled for November 21, 2025. A major point of discussion among potential investors is the Grey Market Premium (IPO GMP), which serves as an unofficial, speculative barometer of expected listing performance. The ₹500 crore IPO has a fixed price band of ₹114 to ₹120 per equity share, and the current IPO GMP is reported to be in the range of ₹14 to ₹15. This premium, when added to the upper end of the price band (₹120), suggests the stock could potentially list around ₹134 to ₹135, signaling an anticipated listing gain of approximately 11.7% to 12.5%.

The total issue size consists of a fresh issue of ₹180 crore and an Offer for Sale (OFS) of ₹320 crore. Funds from the fresh issue are earmarked for capacity expansion and upgrading its IT infrastructure. While the IPO GMP has shown some volatility, dropping from a high of around ₹30, the retail and Non-Institutional Investor (NII) portions saw good demand on the first day of bidding. The grey market sentiment, though non-official and subject to change, indicates a moderate premium. The company is expected to finalize allotment on November 24, with its debut on the BSE and NSE tentatively scheduled for November 26, 2025. Investors are advised to consider the company’s fundamentals and analyst reviews alongside the IPO GMP before subscribing.