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Excelsoft Technologies IPO Review

Excelsoft Technologies IPO has been reviewed by 9 analysts, and the overall consensus is Apply — carrying a score of 72. Out of the 9 analysts who have covered this IPO, 5 recommend subscribing while 4 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹144-120 per share, with a minimum application size of 125 shares (minimum investment of approximately ₹15,000 at the upper band). Subscription ran from 19 Nov 2025 to 21 Nov 2025. The issue size is ₹500 crore, a mix of fresh issue and offer for sale. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
72/ 100
Apply 5 of 9 recommend subscribing
How analysts voted
Apply 5
Neutral 4
Not rated 2

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

ETL is engaged in providing global vertical SaaS solutions and services. The company marked growth in its top lines till FY25, but posted severe setback in bottom line for FY24. The company is operating in a highly competitive and fragmented segment. Based on its recent financial data, the issue appears aggressively priced. Only well-informed/cash surplus/risk seekers may park moderate funds for long term.

Listing gains

At the ₹120 upper band the notes value the issue at about 30 to 39.8 times FY25 earnings on post-issue capital. With five subscribe ratings against four neutral, the coverage was genuinely divided on whether that multiple is deserved, which pointed to a moderate listing rather than a strong one.

Short-term strategy

The tension in the numbers is clear. Net profit grew at 24.4 percent CAGR between FY23 and FY25, but revenue CAGR stayed below 10 percent over the same period, so profit growth came from margin rather than scale. Operating margin was 31.0 percent in FY25.

Long-term strategy

The positive notes take a medium to long-term view on the SaaS learning platform model, where high margins and recurring revenue are attractive. The reservation running through the neutral ratings is that profit cannot keep growing at more than twice the revenue rate indefinitely without top-line acceleration.

How this is written: an AI-assisted summary of the 11 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Excelsoft Technologies IPO?

The analyst consensus for Excelsoft Technologies IPO tracked on this page is Apply, with a score of 72/100. Out of 9 analysts who have reviewed this IPO, 5 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 72 mean for Excelsoft Technologies IPO?

The score of 72 is an aggregate of all analyst ratings tracked for Excelsoft Technologies IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Excelsoft Technologies IPO?

Excelsoft Technologies IPO listed on November 26, 2025 at ₹135.00, against the issue price of ₹120 — a gain of +12.5% (₹15 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Excelsoft Technologies IPO?

Excelsoft Technologies IPO was priced at ₹144-120 per share. The minimum lot size is 125 shares, making the minimum investment approximately ₹15,000 at the upper end of the price band. Subscription ran from 19 Nov 2025 to 21 Nov 2025.

Explore Excelsoft Technologies IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Excelsoft Technologies IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
72 / 100
Listed at
₹135.00
Full IPO details