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- Only Two IPOs Open For Subscription This Week; Seven New Listings Including Tenneco Clean Air
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This week only 2 new IPOs will be open for subscription in the stock market. In the mainboard segment, Accelsoft Technology will raise ₹500 crore, while in the SME, Gallard Steel will raise an issue of ₹37.50 crore. Both will be open from 19 to 21 November. Apart from this, 7 new IPOs will be listed in the market, which include names like Techno Clean Air.
Excelsoft Technology IPO: New shares worth ₹180 crore
Excelsoft Technology’s IPO will open on November 19 and close on November 21. This book-built issue is worth ₹500 crore, of which the fresh issue of 1.50 crore shares is worth ₹180 crore.
Also, an offer for sale (OFS) of 2.67 crore shares will be worth ₹320 crore. The price band has been kept at ₹114 to ₹120 per share. Anand Rathi Advisors Ltd is the book-running lead manager, while MUFG Intime India Pvt Ltd is the registrar.
Special dates related to Excelsoft Technology IPO
| event | date |
|---|---|
| IPO opening | 19 November |
| IPO closing | 21 November |
| share allotment | 24 November |
| Refund/Share Credit | 25 November |
| listing | 26 November |
Note: These are tentative dates, which are subject to change.
Company’s business expanded to US, UK
Excelsoft Technologies Limited is a global vertical SaaS company, established in 2000 in Mysore, Karnataka. The company focuses on the learning and assessment market and provides AI-based digital learning, assessment solutions and information management systems.
The company, which initially started as a private limited company, has now expanded its business to many countries, especially by providing technology solutions in the education sector. It is headquartered in Mysore, but operates in regions such as the US, UK, Middle East and Asia, where it provides software services for edtech and corporate training.
Gallard Steel will bring IPO of Rs 37.50 crore
Gallard Steel’s SME IPO will also open from 19 to 21 November. This is a completely fresh issue, consisting of 0.25 crore shares worth ₹37.50 crore. The price band is ₹142 to ₹150 per share. Serene Capital Pvt Ltd will act as the book-running lead manager, while Ankit Consultancy Pvt Ltd will be the registrar. The company works in the steel sector.
7 IPOs will be listed this week
- MV Photovoltaic will be listed on BSE and NSE on November 18.
- Tenneko Clean Air will list on November 19, Fujiyama Power Systems on November 20.
- Capillary Technologies will list on BSE-NSE on November 21.
- Workmates Core-to-Cloud in SME will be listed on BSE SME on November 18.
- Mahamaya Lifesciences will also be listed on November 18.
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