Exciting news from the stock market! Excelsoft Technologies’ IPO worth Rs 500 crore is creating waves on its second day. So far, investors have bid for 13.18 crore shares, way above the 3.07 crore shares offered. This means the IPO is subscribed 4.3 times! The offer window is still open till November 21, so there’s time for more action. In the buzzing grey market, the premium has jumped to a cool 12.9%, up from 11.8%. This premium means the stock price could start listing around Rs 135–136, which is a Rs 15.5 jump over the IPO price of Rs 120. Investors are eagerly waiting to see the official debut! Breaking down the IPO details, it includes a fresh issue of 1.50 crore shares worth Rs 180 crore and an offer for sale (OFS) of 2.67 crore shares totaling Rs 320 crore. The price band is set between Rs 114 and Rs 120, with a minimum lot size of 125 shares. Who’s buying? Retail investors are showing great enthusiasm, subscribing 4.39 times by bidding for 1.53 crore shares — almost double their reserved shares! Non-Institutional Investors (NIIs) are even more eager, subscribing 9.75 times. However, Qualified Institutional Buyers (QIBs) are a bit slow with only 4% subscription as of Day 2 afternoon. What’s Excelsoft Technologies all about? It is a vertical SaaS company specializing in the global learning and assessment arena. Their smart products include AI-driven tools, online exam proctoring, digital eBooks, and student support platforms. They serve about 76 big clients worldwide, including the famous Pearson Group, relying heavily on long-term contracts. Money from this IPO will fuel expansion plans. The company intends to buy land and build a property in Mysore, upgrade electrical systems, and invest in new software and hardware. Looking at finances, Excelsoft is shining. Their total income jumped to Rs 233.29 crore in FY25 from Rs 198.30 crore last year. Net profit soared to Rs 34.69 crore, showing strong recovery. The EBITDA margin remains healthy at over 31%, with net worth at Rs 371.29 crore and return on capital employed (RoCE) 16.11%. But beware! The company depends heavily on one client — Pearson Group, which brings in 59% of revenue. This client concentration is risky. Also, working internationally means they must follow many rules and keep data very secure, especially as education data is sensitive. Should you jump in? The IPO looks pricey with a price-to-earnings (P/E) ratio of around 35 based on FY25 earnings. Swastika Investmart calls it “aggressively priced,” suggesting only modest gains after listing. So, while Excelsoft is a strong and fast-growing company with great products, cautious investors might want to watch carefully how the stock performs once it hits the market. As always, investing involves risks and rewards — choose wisely!