Whalesbook
The Excelsoft Technologies IPO was heavily subscribed, reaching 23 times its offering on the final day. The Rs 500-crore issue attracted bids for 70.84 crore shares against 3.07 crore shares available. Non-institutional investors showed immense interest, subscribing 68.42 times, while retail investors subscribed 11.87 times and QIBs 8.68 times. The Grey Market Premium (GMP) indicates potential listing gains of around 7-12%. The price band is Rs 114-120 per share. Funds will be used for property, infrastructure, and IT upgrades.