The Excelsoft Technologies IPO enters its final day today, closing at 5:00 pm on November 21, with the issue witnessing a strong 32.64 times subscription so far. The vertical SaaS company, which specialises in learning and assessment solutions, had set its price band at ₹114–₹120 per share.
However, the grey market premium (GMP) has declined sharply. Unlisted shares of Excelsoft are trading at ₹134, reflecting a premium of ₹14 or 11.67% over the upper issue price. This marks a fall from yesterday’s 12.92% GMP and a 35% drop from last week’s near-25% premium.
Market observers attribute the decline to volatile sentiment, although the GMP still indicates moderate listing gains.
The GMP, driven purely by investor mood and demand in the unofficial market, continues to fluctuate as the IPO approaches closure.
