However, the grey market premium (GMP) has weakened. According to market observers, Excelsoft Technologies’ unlisted shares are trading at Rs 134 in the grey market, reflecting an 11.67% premium or a GMP of Rs 14 over the upper issue price of Rs 120. This is slightly lower than yesterday’s 12.92% GMP. Last week, the GMP had climbed to nearly 25%.

The GMP fluctuates based on market sentiment and represents how much investors are willing to pay over the IPO price. Despite the drop in GMP, the subscription numbers indicate strong demand for the IPO.

The post Excelsoft Technologies IPO Day 3 LIVE: GMP Falls 35%; Issue Subscribed 32.64x So Far appeared first on India Podcast.

The company launched a book-building issue worth Rs 828 crore. It includes a fresh issue of 2.63 crore shares valued at Rs 600 crore and an offer-for-sale of one crore shares worth Rs 228 crore. The price band has been set between Rs 216 and Rs 228 per share, giving investors a clear range for participation.

Retail investors can enter the issue with a minimum lot size of 65 shares, which requires an investment of Rs 14,820. Small non-institutional investors must apply for at least 14 lots, while large non-institutional investors need to bid for 68 lots. The subscription window runs from Nov. 13 to Nov. 17. Allotment will be finalised on Nov. 18 and shares will reach demat accounts on Nov. 19, along with refunds for non-allottees.

As of 11:53 a.m., retail investors subscribed 21%, employees subscribed 25%, and non-institutional investors subscribed 8%. Fujiyama Power Systems manufactures solar industry products and reported strong financial growth in FY25, including a 245% rise in net profit.

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