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Exato Technologies IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Exato Technologies Ltd is an enterprise CX, automation and cloud-communications company offering CX & analytics, unified communications & infrastructure, and Exato IQ connectors and contact-centre tools. It earns revenue from software licenses/subscriptions, services (implementation/managed services) and hardware sales; revenue for FY2024-25 was ₹12,422.95 lakhs (consolidated). The firm targets BFSI, telecom, healthcare, retail and IT/ITES customers.
Exato Technologies ,an Book Built Issue, amounting to ₹37.45 Crore, consisting an fresh issue of 0.23 crore shares worth ₹31.85 crores and offer for sale of 0.04 crore shares totaling to ₹5.60 crores.The subscription period for the Exato Technologies IPO opens on November 28, 2025, and closes on December 02, 2025. The allotment is expected to be finalized on or about Wednesday, December 03, 2025., and the shares will be listed on the BSE SME with a tentative listing date set on or about Friday, December 05, 2025.
The Share Price Band of Exato Technologies IPO is set at ₹133 to ₹140 per equity share. The Market Capitalisation of the Exato Technologies at IPO price of ₹140 per equity share will be ₹
140.92 Crores. The lot size of the IPO is 1000 shares. Retail investors are required to invest a minimum of ₹280,000, 2 lots (
2000 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3000 shares), amounting to ₹
420,000.
GYR CAPITAL ADVISORS PRIVATE LIMITED are the book running lead manager of the Exato Technologies Ltd. while KFIN TECHNOLOGIES LIMITED is the registrar for the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd.
Exato Technologies Limited IPO GMP Today
The Grey Market Premium of Exato Technologies IPO is expected to be ₹100 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Exato Technologies Limited IPO Live Subscription Status Today: Real-Time Update
The subscription period for the Exato Technologies IPO opens on November 28, 2025
Exato Technologies Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Exato Technologies IPO allotment date is 03 December 2025, Wednesday, Exato Technologies IPO Allotment will be out on 03 December 2025, Wednesday.and will be live on Registrar Website from the allotment date.
Check KFIN TECHNOLOGIES LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Exato Technologies IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Exato Technologies Limited IPO
Exato Technologies to utilise the Net Proceeds towards the following objects:
1. ₹1572.70 Lakh is required for Funding the working capital requirements of our company
2. ₹680.00 Lakh is required for Investment in Product Development
3. ₹253.33Lakh is required for Repayment/prepayment of all or certain of our borrowings availed of by our Company
4. General Corporate Purposes.
Refer to Exato Technologies Limited RHP for more details about the Company.
Exato Technologies Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| November 24, 2025 | N/A | N/A | ₹0(0.0%) | 24 November 2025; 03:27 PM |
| November 24, 2025 | N/A | N/A | ₹0(0.0%) | 26 November 2025; 10:42 AM |
| November 24, 2025 | N/A | N/A | ₹0(0.0%) | 02 December 2025; 04:26 PM |
Exato Technologies IPO Details
| Market Capitalization | ₹140.92 Cr. |
| IPO Date | November 28, 2025 to December 02, 2025 |
| Listing Date | December 05, 2025 |
| Face Value | ₹10 Per Share |
| Price Band | ₹ 133to ₹140 per share |
| Issue Price | ₹140 per share |
| Employee Discount | NA |
| Lot Size | 1000 Equity Shares |
| Total Issue Size | 26,75,000 Equity Shares (aggregating to ₹37.45 Cr) |
| Fresh Issue | 22,75,000 Equity Shares (aggregating to ₹31.85 Cr) |
| Offer for Sale | 4,00,000 Equity Shares (aggregating to ₹5.60 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share holding pre issue | 77,90,371 |
| Share holding post issue | 1,00,65,371 |
| Rating | Apply |
Exato Technologies IPO Anchor Investors Details
| Bid Date | November 27, 2025 |
| Shares Offered | 7,61,000 |
| Anchor Portion Size (In Cr.) | 10.65 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 02, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 03, 2026 |
Exato Technologies IPO Timeline (Tentative Schedule)
| IPO Open Date | Fri, Nov 28, 2025 |
| IPO Close Date | Tue, Dec 2, 2025 |
| Basis of Allotment | Wed, Dec 3, 2025 |
| Initiation of Refunds | Thu, Dec 4, 2025 |
| Credit of Shares to Demat | Thu, Dec 4, 2025 |
| Listing Date | Fri, Dec 5, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 2, 2025 |
Exato Technologies IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 1,270,500 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 381,150 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 889,350 | Not more than 35% of the Net Offer |
| Market Maker Portion | 134,000 | - |
Exato Technologies IPO Promoter Holding
| Share Holding Pre Issue | 75.85% |
| Share Holding Post Issue | 54.73% |
Exato Technologies IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | ₹280,000 |
| Retail (Max) | 2 | 2,000 | ₹280,000 |
| S-HNI (Min) | 3 | 3,000 | ₹420,000 |
| S-HNI (Max) | 7 | 7,000 | ₹980,000 |
| B-HNI (Min) | 8 | 8,000 | ₹1,120,000 |
Exato Technologies IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 5,08,000 | 16,61,59,000 | 327.08x | 03 December 2025; 10:18 AM |
| Non Institutional Investors(NIIS) | 3,82,000 | 56,86,90,000 | 1488.72x | 03 December 2025; 10:18 AM |
| Retail Individual Investors (RIIs) | 8,90,000 | 95,11,80,000 | 1068.74x | 03 December 2025; 10:18 AM |
| Total | 17,80,000 | 1,68,60,29,000 | 947.21x | 03 December 2025; 10:19 AM |
About Exato Technologies Limited
Exato Technologies Ltd is an enterprise CX, automation and cloud-communications company offering CX & analytics, unified communications & infrastructure, and Exato IQ connectors and contact-centre tools. It earns revenue from software licenses/subscriptions, services (implementation/managed services) and hardware sales; revenue for FY2024-25 was ₹12,422.95 lakhs (consolidated). The firm targets BFSI, telecom, healthcare, retail and IT/ITES customers.
Key clients & manufacturing / operational facilities
Exato is an IT/service company — it has no manufacturing plants; operations are delivered via development centres, cloud/on-prem integrations and subsidiaries (Exato.AI Inc., Exato.ai Pte. Ltd., Exato Infotech Pvt. Ltd.).
Product portfolio, placement in client lifecycle, order book & execution
Products: Exato IQ (connectors, dialers, speech-to-text, WFM integrations) and proprietary platforms under development — CompliCall, Prompt Base Dialer, Unified Agent Management (UAM) (three priority products funded via IPO).
Merger activity, capex and expansion plans
Planned capex: the Offer proposes to use Net Proceeds for working capital, product development (up to ₹680.00 lakhs for three priority proprietary platforms), repayment of certain borrowings and general corporate purposes — i.e., organic product-led expansion rather than M&A. Any shortfall will be met via internal accruals or permitted borrowings.
Number of employees & bankers
As of 31st October 2025, the company had 133 permanent employees. The Banker to the Company is Axis Bank Limited and Kotak Mahindra Bank Limited.
Management, vision and funding for expansion
Management / vision: the Promoter & MD, Mr. Appuorv K. Sinha, has ~18 years’ experience in CX, enterprise technology and channel scaling (including NICE Ltd.), and the Board emphasises productization of services (IP + services) to improve margins and scalability. Funding for capex/expansion: primary funding is the Fresh Issue Net Proceeds (allocated to working capital, ₹680.00 lakhs for product development, and repayment of borrowings); any shortfall will be met from internal accruals or permitted borrowings. The company will monitor utilisation via the Board/Audit Committee; no bridge financing is in place.
Industry overview & market outlook
global conversational AI market (2024) ≈ USD 15.5 billion, projected to USD 132.86 billion by 2034 (CAGR ~23.97% between 2025–2034). The cloud contact-centre market cited grows from ~USD 26.2 billion (2024) to ~USD 86.4 billion by 2029 (CAGR ~26.9%). Indian AI/GenAI market estimates in the RHP reference high growth (BCG-NASSCOM / other sources) with projected CAGRs in the 25–35% range for India. These figures show strong addressable growth for Exato’s CX/AI offerings.
major risk factors
High receivables / collection timing — Trade receivables rose to ₹5,494.26 lakhs as at Sept-30,-2025 with receivable days increasing to 114 days (Sept-25); concentration and delayed collections could strain working capital.
Leverage & borrowing commitments — Short-term borrowings and NBFC lines totalled ~₹2,106.08 lakhs (Sept-30,-2025); multiple lenders and EMIs mean interest/service obligations could limit financial flexibility.
Client concentration & billing patterns — Large enterprise, milestone-based contracts can cause concentrated billing timing and uneven cash flows; an adverse client loss or delayed milestone acceptance could hurt revenues and collections.
Execution risk for product commercialization — The company is allocating substantial funds to develop proprietary platforms (CompliCall, UAM, Prompt Base Dialer); product delays, cost overruns or poor market uptake would impair expected higher-margin revenues.
- Regulatory and tax contingencies — The RHP discloses tax/GST demands and other contingent liabilities (e.g., GST demand ~₹83.30 lakhs and income-tax demand ~₹78.57 lakhs), which could lead to cash outflows if resolved unfavourably.
- Market & listing risk (SME platform) — This is the company’s first public offer; there is no established trading market for the shares and investors may face illiquidity and price volatility after listing.
Key strengths, moat and near-term opportunities
- Product + services model — Combining services with proprietary IP (Exato IQ, CompliCall, UAM, Prompt Base Dialer) can create higher-margin, recurring revenues and reduce third-party dependency; ₹680 lakhs allocated to product development signals strategic focus.
- Industry tailwinds (AI & cloud CX) — Rapid global and Indian growth in conversational AI and cloud contact centres presents a large TAM; Exato’s offerings align with this market shift toward cloud/AI CX.
- Established revenue base & growth — Consolidated revenues rose to ₹12,422.95 lakhs (FY2024-25) with operating scale in software, services and hardware — demonstrating commercial traction across segments.
- Experienced promoter & CX domain expertise — MD’s 18 years in CX and channel scaling (including experience at NICE) provides domain credibility for enterprise sales and partnerships.
- International footprint via subsidiaries — Wholly-owned subsidiaries in the U.S. and Singapore (Exato.AI Inc., Exato.ai Pte. Ltd.) support global sales/implementation and provide access to international customers.
- Strong aftermarket support & market maker arrangement — A designated market maker and reserved market-maker portion aim to improve post-listing liquidity on the BSE SME platform.
Exato Technologies Limited Financial Information (Restated Consolidated)
Amount in (₹ in Lakhs)
| Period Ended | Sep 30, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 4,195.89 | 4,229.35 | 2,669.34 | 2,169.46 |
| Total Assets | 9,922.17 | 9,516.80 | 5,448.06 | 3,451.36 |
| Total Borrowings | 2,797.75 | 3,162.68 | 1,651.50 | 621.11 |
| Fixed Assets | 173.69 | 171.79 | 40.08 | 32.34 |
| Cash | 566.32 | 2,569.40 | 589.61 | 1,628.67 |
| Cash flow from operating activities | -1,136.43 | 1,267.76 | -1,412.26 | 1,039.71 |
| Cash flows from investing activities | -405.26 | -1,169.91 | -545.61 | -11.25 |
| Cash flow from financing activities | -461.85 | 1,883.40 | 919.53 | 464.86 |
| Net Borrowing | 2,231.43 | 593.28 | 1,061.89 | -1,007.56 |
| Revenue | 7,152.97 | 12,616.06 | 11,490.78 | 7,313.11 |
| EBITDA | 1,145.67 | 1,595.20 | 907.19 | 611.58 |
| PAT | 726.24 | 974.84 | 530.56 | 505.78 |
| PAT Margin | 10.15% | 7.73% | 4.62% | 6.92% |
| EPS | 9.54 | 13.86 | 7.63 | 7.99 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 13.86 |
| EPS Post IPO (Rs.) | 9.69 |
| Adjusted 12M EPS Post IPO (Rs.) | 14.43 |
| P/E Pre IPO | 10.10 |
| P/E Post IPO | 14.46 |
| Adjusted 12M P/E Post IPO | 9.70 |
| ROE | 28.13% |
| ROCE | 26.38% |
| P/BV | 2.52 |
| Debt/Equity | 0.75 |
| RoNW | 23.03% |
| EBITDA Margin | 12.64% |
| PAT Margin | 7.73% |
Exato Technologies Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Exato Technologies | 9.69 | 14.46 | 28.13% | 26.38% | 2.52 | 0.75 | 23.03% |
| Black Box | 12.16 | 45.99 | 44.2 % | 29.8 % | 12.64 | 1.15 | 26.99% |
Exato Technologies Limited Contact Details
Exato Technologies Ltd.
A-33, 02nd Floor
Sector-2, Noida
Gautam Buddha Nagar
Noida, Uttar Pradesh, 201301
Phone: +91 9810430894
Email: compliance@exato.ai
Website: https://www.exato.ai/
Exato Technologies IPO Registrar and Lead Manager(s)
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: exato.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
GYR CAPITAL ADVISORS PRIVATE LIMITED
Phone: +91 87775 64648
Email: exato.ipo@gyrcapitaladvisors.com
Website: www.gyrcapitaladvisors.com
Exato Technologies IPO Review
Exato Technologies Ltd is an enterprise CX, automation and cloud-communications company offering CX & analytics, unified communications & infrastructure, and Exato IQ connectors and contact-centre tools. It earns revenue from software licenses/subscriptions, services (implementation/managed services) and hardware sales; revenue for FY2024-25 was ₹12,422.95 lakhs (consolidated). The firm targets BFSI, telecom, healthcare, retail and IT/ITES customers.
The Company is led by Promoter, i.e., MR. APPUORV K SINHA, MRS. SWATI SINHA AND MR. ABHIJEET SINHA
The Revenues from operations for the Period ended on Sep 30 2025 and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
7,152.97 Lakh, ₹
12,616.06 Lakh, ₹
11,490.78 Lakh, and ₹
7,313.11 Lakh, The EBITDA for the Period ended on Sep 30 2025, 2025 and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹
1,145.67 Lakh, ₹
1,595.20 Lakh, ₹
907.19 Lakh, and ₹
611.58 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, 2025 and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹
726.24 Lakh, ₹
974.84 Lakh, ₹
530.56 Lakh, and ₹
505.78 Lakh, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹13.86 and post-issue EPS of ₹9.69 for FY25. The pre-issue P/E ratio is 10.10x,while the post-issue P/E ratio is 14.46x against the Industry P/E ratio is 45.99 The company's ROE for FY25 is 28.13% and RoNW is23.03% The Annualised EPS is ₹14.43x and P/E is
9.70x. These metrics suggest that the IPO is Fairly priced.
The Grey Market Premium (GMP) of Exato Technologies showing listing gains of
71.42%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply to the Exato Technologies Limited IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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