The Exato Technologies IPO emerged as one of the most talked-about SME public issues of 2025, driven by record-breaking subscription numbers and a rapidly rising grey market premium (GMP). Having an incredible subscription count of more than 947 times, IPO showed that the market had strong confidence in the technology-based business model, which is scalable in terms of revenue, and that the company is improving its profitability.
Trading on the BSE SME venue, Exato Technologies not only received praise due to its impressive listing returns but also in regard to its attention to high-growth areas like artificial intelligence, automation, customer experience (CX), and analytics.
This article provides you the complete information about Exato Technologies IPO, financial performance, valuation metrics, subscriptions, risk, strengths, long-term prognosis & more.
Exato Technologies IPO GMP: Overview
Exato Technologies Limited is a company that was started in 2016 with a vision of providing technology-based customer transformation solutions. The company brands itself as a strategic partner to the businesses that are interested in enhancing customer interaction, business efficiency, and decision-making based on the data using digital platforms. Services provided by the company include Customer Experience (CX) & Analytics, Conversational AI, Automation as a Service, Unified Communications, Infrastructure Solutions, and Workforce Management. Exato Technologies has served various industries such as Banking, Financial Services and Insurance (BFSI), Healthcare, Retail, Telecom, Manufacturing and IT/ITeS and BPO/KPO. Having more than 133 permanent staff members as of October 2025, and its clients in India, the USA, and Singapore, Exato Technologies has proven itself as a growing SME technology player with an international presence.
Exato Technologies IPO
This part provides a summary of the main information about the IPO, such as dates, prices, amount of issue and listing. These are some of the details that give the investors a brief overview of the manner in which the public issue was organized and implemented.
| Particulars | Details |
| IPO Name | Exato Technologies IPO |
| IPO Type | Bookbuilding IPO |
| Listing Platform | BSE SME |
| Issue Size | ₹37.45 Crore |
| IPO Open Date | 28 November 2025 |
| IPO Close Date | 2 December 2025 |
| Allotment Date | 3 December 2025 |
| Refund Initiation | 4 December 2025 |
| Credit of Shares | 4 December 2025 |
| Listing Date | 5 December 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹133 – ₹140 |
| Issue Price | ₹140 per share |
| Market Capitalization (Pre-IPO) | ₹140.92 Crore |
| BSE Script Code | 544626 |
| ISIN | INE1E4401010 |
Exato Technologies IPO Structure & Issue Break-up
The IPO consisted of fresh issue of equity shares and offer of sale (OFS) by the present shareholders. The new problem was to issue growth capital and the OFS offered partial liquidity to original investors.
| Component | No. of Shares | Amount |
| Fresh Issue | 21,41,000 | ₹31.85 Cr |
| Offer for Sale | 4,00,000 | ₹5.60 Cr |
| Total Issue Size | 26,75,000 | ₹37.45 Cr |
Exato Technologies IPO Lot Size & Investment Requirement
Exato Technologies being an SME IPO, the minimum investment required was higher than the mainboard IPOs. The retail sector had a minimum investment of 2.8 lakh, and therefore it was only applicable to the investors who have a higher rate of risk and capital.
IPO Lot Size Table
| Investor Category | Lots | Shares | Investment Amount |
| Retail (Min & Max) | 2 | 2,000 | ₹2,80,000 |
| Small HNI (Min) | 3 | 3,000 | ₹4,20,000 |
| Small HNI (Max) | 7 | 7,000 | ₹9,80,000 |
| Big HNI (Min) | 8 | 8,000 | ₹11,20,000 |
Exato Technologies IPO Reservation & Allocation Structure
The IPO was based on the standard SME reservation model with the shares to be issued to Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), retail investors, anchor investors and market maker. This guaranteed wide based participation and post-listing liquidity.
| Investor Category | Shares Offered | Percentage |
| QIB (Total) | 12,69,000 | 47.44% |
| Anchor Investors | 7,61,000 | 28.45% |
| QIB (Ex-Anchor) | 5,08,000 | 18.99% |
| NII (HNI) | 3,82,000 | 14.28% |
| Retail Investors | 8,90,000 | 33.27% |
| Market Maker | 1,34,000 | 5.01% |
| Total Shares Offered | 26,75,000 | 100% |
Exato Technologies IPO Grey Market Premium (GMP) Overview
The IPO of the Exato Technologies Limited brought enormous momentum on the grey market in late 2025, initiated by enormous oversubscription and surging investor demand. GMP trends portrayed an upward optimism during the subscription period as premiums kept on rising as bidding moved towards listing. GMP is not an official pointer, but it was important in the formation of expectations of high listing returns in this SME IPO.
| Particular | Details |
| IPO Segment | BSE SME |
| Market Sentiment | Strongly Bullish |
| GMP Trend | Rising throughout subscription |
| Key Driver | Heavy oversubscription |
Exato Technologies IPO InvestorGain GMP Insights
The GMP tracker of the Exato Technologies SME IPO by InvestorGain noted the high levels of premiums consistently and associated them with the historical results of listings of comparable SME issues. The platform uses GMP as a sentiment signal, a combination of subscription information to determine the listing performance that could be. InvestorGain data is utilized by many investors to compare the anticipated returns with similar IPO in the SME segment.
| Parameter | Observation |
| Platform | InvestorGain |
| GMP Trend | Consistently High |
| Usage | Sentiment & return estimation |
| Comparison | Similar SME IPOs |
Exato Technologies IPO Day-Wise GMP Trends
Exato Technologies IPO had a distinctly bullish trend during the subscription phase. The premiums kept increasing day by day and the demand and multiplication of subscriptions especially in the retail and HNI segments were ever increasing. This gradual increase strengthened anticipations of a good listing.
| Date | GMP (₹) | Premium (%) |
| Nov 30 (Day 2) | ₹131 | 93.5% |
| Dec 1 (Day 3) | ₹150 | 107% |
| Dec 2 | ₹150–₹170 | 107–121% |
| Dec 3–4 | ₹170–₹175 | 121–125% |
| Dec 5 (Listing) | ₹177 | 126% |
Exato Technologies IPO GMP in Percentage Terms
When computed against the upper price band of 140, the GMP percentages were very clear on the magnitude of listing gains expected. There was a 100 percent premium before the IPO closed and over 125 percent on listing day, which indicated strong enthusiasm in the grey markets.
| Stage | GMP (₹) | GMP % |
| Day 2 | ₹131 | 93.57% |
| Day 3 | ₹150 | 107.14% |
| Peak | ₹177 | 126.43% |
Exato Technologies IPO Latest GMP Updates
The latest GMA of 177 on December 5, 2025, after listing indicated that the stock may have long-term interest. Although GMP usually decays after listing, the fact that it had strengthened showed good sentiment and belief in the fundamentals of the company. Nonetheless, GMO movements in the future will be at the mercy of market situations and the price of stocks.
| Parameter | Value |
| Latest GMP | ₹177 |
| Status | Post-listing |
| Sentiment | Positive |
| Volatility | Possible |
Exato Technologies IPO Subscription Status Breakdown & GMP Link
Exato Technologies IPO recorded a blockbuster subscription rates and this was a direct support of the rising GMC trend. Day 1 was characterized by high demand, whereas Day 2 was characterized by explosive demand that continued throughout the last day. HNI and retail participation was of significant contribution towards maintaining GMP on high levels until listing.
| Day | Subscription Trend | GMP Impact |
| Day 1 | Strong start | GMP 상승 |
| Day 2 | 200×+ overall | GMP crossed 100% |
| Day 3 | Peak demand | GMP stabilized |
| Final | Blockbuster | GMP near peak |
Important Note
Grey Market Premium (GMP) is non-official and unregulated. It cannot be taken as an investment guarantee but as a feeling indicator. The real listing performance can be determined by the more general market conditions and investor behavior during the listing day.
Exato Technologies IPO Anchor Investors Details
The anchor investors had subscribed a day prior to the opening of the IPO to the populace, which is a sign of early institutional support of the matter. The anchor portion raised a large sum of money.
| Particulars | Details |
| Anchor Bid Date | 27 November 2025 |
| Shares Allotted | 7,61,000 |
| Amount Raised | ₹10.65 Crore |
| Lock-in for 50% Shares | Till 2 January 2026 |
| Lock-in for Remaining Shares | Till 3 March 2026 |
Exato Technologies IPO expected listing price and Day Performance
High level of subscription was translated to a spectacular listing performance on BSE SME. The share was trading at almost a 90 percent premium to the issue price, which reinforced allotment winners. The Exato Technologies IPO expected listing price is around ₹215 – ₹317.
| Particulars | Price |
| Issue Price | ₹133-₹140 |
| Opening Price | ₹266 (On 5 December 2025) |
| Day High | ₹279.30 |
| Day Low | ₹266 |
| Closing/Last Traded Price | ₹279.30 |
| Expected listing price | ₹215-₹317 (estimated) |
Exato Technologies IPO Shareholding Pattern
The IPO caused dilution of the promoter shareholding, which enhanced public float and liquidity with the promoter control retained.
| Particulars | No. of Shares |
| Pre-Issue Shareholding | 7,790,371 |
| Post-Issue Shareholding | 10,065,371 |
| Promoter Holding (Post IPO) | 54.73% |
Exato Technologies IPO Company Financial Performance
Exato Technologies has been on a progressive growth in terms of revenue, assets and profitability. The increased cost management and operating leverage is indicated by the sharp increase in PAT.
| Period Ended | Assets | Total Income | EBITDA | PAT |
| 30 Sep 2025 | 99.22 | 71.53 | 11.46 | 7.26 |
| 31 Mar 2025 | 95.16 | 126.16 | 15.95 | 9.75 |
| 31 Mar 2024 | 54.48 | 114.91 | 9.07 | 5.31 |
| 31 Mar 2023 | 34.51 | 73.13 | 6.12 | 5.06 |
Exato Technologies IPO Key Performance Indicators (KPI)
The KPIs will assist in evaluating the profitability, return ratios, leverage and efficiency of the company after IPO.
| KPI | Value |
| Return on Equity (ROE) | 28.13% |
| Return on Capital Employed (ROCE) | 26.38% |
| Debt to Equity Ratio | 0.75 |
| Return on Net Worth (RoNW) | 23.03% |
| PAT Margin | 7.85% |
| EBITDA Margin | 12.64% |
| Price to Book Value | 2.52 |
Exato Technologies IPO Valuation Metrics
It was also appealing to long-term SME technology investors, as the IPO was priced at a reasonably good valuation relative to the earnings growth.
| Metric | Pre-IPO | Post-IPO |
| EPS (₹) | 12.51 | 14.43 |
| P/E Ratio | 11.19× | 9.70× |
| Market Capitalization | ₹140.92 Cr | ₹140.92 Cr |
| Promoter Holding | 75.85% | 54.73% |
Exato Technologies IPO Objects of the Issue
The IPO proceeds will be used mainly to fund business expansion, working capital and balance sheet fortification.
| Purpose | Amount (₹ Cr) |
| Working Capital Requirements | 15.73 |
| Investment in Product Development | 6.80 |
| Debt Repayment/Prepayment | 2.53 |
| General Corporate Purposes | 4.68 |
Conclusion
The Exato Technologies IPO showing outstanding oversubscription and excellent listing performance, also has good market sentiments. But as a company that is listed under the SMEs, Exato Technologies IPO could be more volatile over the short term. In the long-term perspective, the recurrent revenue base, robust partnerships, and scalable business model of the company give the company a solid foundation towards sustainable growth. Generally, the Exato Technologies IPO seems appropriate to medium- to long-term investors with greater risk propensity who would like to have an exposure to a technology-driven SME that has the prospect of growing.
FAQs
Exato Technologies IPO is a bookbuilding SME IPO under which Exato Technologies Limited has raised 37.45 crore by issuing fresh shares as well as offering a minimal percentage to be sold in the BSE SME market.
The IPO was priced at ₹133-₹140 a share and the minimum size of the lot was 2,000 shares and this would entail a retail investment of 2.8 lakh.
It was subscribed 947.21 times in total, and the NIIs, retail investors, and QIBs were extremely subscribing, which means that it will be among the most subscribed SME IPOs in 2025.
Exato Technologies is an AI-powered customer experience, analytics, automation, and cloud-based solution provider, which works with BFSI, healthcare, retail, telecom, and IT services.
The IPO should be discussed as the medium- to long-term investment based on the risk level of more aggressive investors, as the company has growth potential, better financial results, and is specialized in the high-demand services of digital transformation.
