After an intense run of public issues over the past few weeks, the primary market is set for a comparatively quieter phase in the coming week. Only two IPOs—one mainboard and one SME—are scheduled to open for subscription. However, a packed listing calendar ensures that investor interest will remain high.
Mainboard IPO: Excelsoft Technologies
Excelsoft Technologies, a global provider of vertical SaaS and digital learning solutions, is gearing up to launch its ₹500-crore initial public offering on 19 November 2025. The issue will remain open until 21 November, with anchor investors getting early access on 18 November.
Price band: ₹114–₹120 per share
Issue Structure
- Fresh issue: ₹180 crore
- Offer for sale: ₹320 crore by Pedanta Technologies Pvt Ltd
Planned Utilisation of Funds
- Acquisition of land and construction of new facilities at its Mysore campus
- Upgradation of existing buildings and electrical systems
- Enhancement of IT infrastructure
- General corporate purposes
With a track record spanning over two decades, Excelsoft develops digital learning, assessment platforms, and advanced AI-powered tools, including its own LLMs and AI agents. Its clientele includes notable global names such as Pearson Education and AQA Education.
In FY25, the company reported ₹233.29 crore in revenue and ₹34.69 crore in net profit. The stock will list on both the BSE and NSE.
SME IPO: Gallard Steel
SME player Gallard Steel will open its IPO on 19 November, closing on 21 November, with allotments scheduled for 24 November.
Key Highlights
- Issue size: ₹37.50 crore
- Type: Fresh issue
- Price band: ₹142–₹150 per share
- Retail minimum investment: ₹3,00,000 (2,000 shares)
- HNI minimum investment: ₹4,50,000 (3,000 shares)
Gallard Steel manufactures engineered metal components for railways, defence, power, and other industrial segments. It operates a foundry unit in Pithampur and a machining division under its subsidiary, Sleeploop India. The company also has a Netherlands-based entity to support its future export expansion.
Funds raised will be directed toward capacity expansion, construction of a corporate office, debt reduction, and general corporate activities.
Multiple IPO Listings Scheduled
Despite the light schedule for fresh issues, the coming week will see eight IPOs debut on the exchanges, keeping market activity lively. Major names set to list include:
- Fujiyama Power
- PhysicsWallah
- Capillary Technologies
- Emmvee Photovoltaic
- Tenneco Clean Air
- Workmates Core2Cloud
- Mahamaya Lifesciences
These listings are expected to draw keen participation and add momentum to the primary market.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.