New Delhi, Nov. 19 -- Excelsoft Technologies IPO Day 1: The initial public offering (IPO) of Excelsoft Technologies sailed through on the first day of the bidding process on Wednesday, November 19, amid strong demand from non-institutional investors (NIIs) and retail investors.

Excelsoft Technologies IPO is open for bidding till November 21, offering investors two more days to place their bids. Analysts, however, remain largely neutral to the Rs.500-crore IPO.

Excelsoft Technologies IPO was subscribed 1.45 times on the first day of the book-building process, garnering bids for 4,45,67,750 shares as against 3,07,01,754 shares on offer.

The retail portion was booked 1.85 times, the NII quota 2.45 times and the qualified institutional buy...