Understanding Shariah Compliance in IPOs and Stocks:
Investing wisely is essential for both financial growth and ethical alignment. For those interested in making investments that comply with Islamic law, understanding the Shariah status of Initial Public Offerings (IPOs) and stocks is crucial. This article aims to provide insights into the Shariah compliance of Excelsoft Technologies Limited, ensuring that your investment choices are not only profitable but also ethical.
Table of Contents
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Analyzing The Company
Company Name: Excelsoft Technologies Limited
Industry: Software / Technology
Listing At: NSE & BSE (Mainboard)
Excelsoft: Transforming Digital Learning and Assessment
Company Overview
Excelsoft is a global technology company that has been redefining the way people learn since its incorporation in 2000. As a vertical SaaS company, we specialize in providing innovative learning and assessment solutions through our advanced cloud-based platforms.
Our Mission & Vision
Powered by AI, Built on Integrity — We transform digital learning experiences with next-generation, impactful content solutions that are Powered by Innovation, Designed for Impact. Our goal is to create transformative learning journeys that are Built to Engage, Powered to Perform.
Core Products & Solutions
| Product Category | Description |
|---|---|
| AI-Powered Apps | Smart applications using artificial intelligence |
| Test and Assessment | Comprehensive evaluation tools |
| Online Proctoring | Secure remote exam monitoring |
| Learning Experience Platform | Complete learning management solution |
| Student Success Platform | Tools to support student achievement |
| Digital eBook Platform | Interactive digital learning materials |
What Makes Us Different
1. Advanced Technology
- AI-powered solutions including Large Language Models (LLM) and small LLMs
- Cloud-based platforms with open, industry-standard APIs
- Scalable solutions for organizations of all sizes
2. Security & Quality Standards
We maintain the highest standards with certifications including:
- ISO/IEC 27001:2022 for Information Security Management
- Cyber Essentials Plus certification
- ISO 9001:2015 for Quality Management System
3. Global Recognition
Our excellence has been recognized through prestigious awards:
- e-Assessment Association Award
- Brandon Hall Group Awards in multiple categories
Our Approach
Customer-Centric Solutions
- Thorough requirement gathering for each client
- Customized platform configuration
- Long-term partnerships with enterprise clients worldwide
Expertise & Innovation
- Over two decades of experience in EdTech
- Strong foundation in both pedagogy and technology
- Continuous innovation in digital assessments and proctoring
Compliance & Standards
All our products and solutions comply with relevant technology, security, and quality standards, both globally and regionally.
Leadership Vision
“Excelsoft wants to be a thought leader in education technology solutions. We strive to deliver the best online learning products and services that help our customers achieve their learning and development goals.”
The Excelsoft Journey
From our founding in 2000, Excelsoft has evolved into a comprehensive end-to-end solution provider. We have consistently driven new paradigms in implementing technology for learning and assessment. Our adherence to changing global EdTech standards and best practices in software technology has helped us stay current and continuously add value to our customers.
Today, we stand as a trusted partner for organizations worldwide, combining deep pedagogical knowledge with cutting-edge technology to deliver solutions that truly make a difference in how people learn and grow.
Shariah Status
The IPO is Shariah Non-Compliant, please see below image.
IPO Timeline (Tentative Schedule)
| IPO Open Date | Wed, Nov 19, 2025 |
| IPO Close Date | Fri, Nov 21, 2025 |
| Tentative Allotment | Mon, Nov 24, 2025 |
| Initiation of Refunds | Tue, Nov 25, 2025 |
| Credit of Shares to Demat | Tue, Nov 25, 2025 |
| Tentative Listing Date | Wed, Nov 26, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 21, 2025 |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹15,000 |
| Retail (Max) | 13 | 1,625 | ₹1,95,000 |
| S-HNI (Min) | 14 | 1,750 | ₹2,10,000 |
| S-HNI (Max) | 66 | 8,250 | ₹9,90,000 |
| B-HNI (Min) | 67 | 8,375 | ₹10,05,000 |
Financials
Excelsoft Technologies Ltd. demonstrated exceptional financial performance with revenue increasing by 24% and Profit After Tax (PAT) surging by 172% between FY 2024 and FY 2025. Total income grew from ₹200.70 crore to ₹248.80 crore, while PAT jumped dramatically from ₹12.75 crore to ₹34.69 crore, showcasing remarkable operational efficiency. The company’s asset base expanded to ₹470.49 crore, and EBITDA increased significantly to ₹73.26 crore from ₹54.97 crore. Net worth strengthened to ₹371.29 crore, while total borrowing decreased substantially from ₹76.73 crore to ₹26.59 crore, indicating improved financial health and reduced debt dependency. The reserves and surplus maintained stability at ₹269.66 crore. This strong financial trajectory reflects Excelsoft’s successful business model, effective cost management, and growing market demand for its AI-powered EdTech solutions, positioning the company well for continued growth in the digital learning sector.
SEBI Disclaimer
Investing in IPOs involves risks. Please read the offer document carefully before investing. This article is for informational purposes only and does not constitute financial advice. Investors should consult their financial advisors before making any investment decisions.