Gallard Steel Limited, established in 2015, provides high-quality engineered steel castings to critical sectors. The company delivers precision-made components, assemblies, and subassemblies for Indian Railways, defence applications, power generation, and heavy engineering. Operating from its ISO 9001:2015 certified foundry in Pithampur, which spans over 12,195 square meters, Gallard Steel leverages its in-house capabilities in melting, moulding, heat treatment, and finishing to ensure quality and reliability in its products, which range from railway traction motors to defence cradles.

The Initial Public Offering (IPO) of Gallard Steel Limited will be open for subscription from November 19, 2025, to November 21, 2025. Structured as a Book Built Issue, the IPO aims to raise approximately ₹37.50 crores through a fresh issue, alongside an offer for sale of [.] equity shares (face value ₹10). The price band has been set between ₹142 and ₹150 per share. The allotment is scheduled for November 24, 2025, with listing on the BSE expected on November 26, 2025. The share allocation is 35% for Retail Investors, 50% for QIBs, and 15% for HNIs.

Financially, the company demonstrated strong growth, with revenue surging to ₹535.24 crores in 2025 from ₹278.61 crores in 2024. Similarly, profits saw a significant increase, reaching ₹60.67 crores in 2025 compared to ₹31.96 crores in the previous year.

Gallard Steel IPO Details

Gallard Steel IPO Dates

The Initial Public Offering (IPO) for Gallard Steel is scheduled to commence on November 19, 2025, and will conclude on November 21, 2025.

Gallard Steel IPO Market Lot

Gallard Steel IPO, the minimum market lot has been set at 2,000 shares, requiring a total application amount of ₹3,00,000.

Founded in 2000, Excelsoft Technologies Limited is a global vertical SaaS enterprise focused on the learning and assessment sector. The company delivers a comprehensive suite of AI-powered solutions, including test and assessment platforms, online proctoring, learning experience platforms, and digital eBooks. Its flagship SARAS LMS, along with products like EnablED LXP and OpenPage, provides customized learning support for both academic institutions and corporations.

With a widespread operational presence across India, Malaysia, Singapore, the UK, and the USA, Excelsoft partners with over 200 organizations—such as Pearson Education, AQA Education, and Ascend Learning—to positively impact more than 30 million learners worldwide, serving a diverse clientele from education and government to defense and business.

Excelsoft Technologies Limited’s Initial Public Offering (IPO) is scheduled to open on November 19, 2025, and close on November 21, 2025. Structured as a Bookbuilding Issue, the IPO aims to raise approximately ₹500.00 crores through a combination of a fresh issue of ₹180.00 crores and an offer for sale of up to 2,66,66,666 equity shares, each with a face value of ₹10. The price band has been set between ₹114 and ₹120 per share, with a quota allocation of 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net Worth Individuals (HNIs).

The allotment for the IPO is expected to be finalized on November 24, 2025, with subsequent listing on both the BSE and NSE scheduled for November 26, 2025. Financially, the company has demonstrated strong growth, reporting a revenue increase to ₹248.80 crores in 2025 from ₹200.70 crores in 2024, alongside a significant rise in profit to ₹34.69 crores from ₹12.75 crores during the same period.

Excelsoft Technologies IPO Details

Excelsoft Technologies IPO Dates

The initial public offering (IPO) for Excelsoft Technologies is scheduled from November 19 to November 21, 2025.

Excelsoft Technologies IPO Market Lot

The Excelsoft Technologies IPO has set a market lot at 125 shares, requiring a minimum investment of ₹15,000. Retail investors are permitted to bid for up to 13 such lots, allowing for a maximum investment of ₹1,95,000 for 1,625 shares.

The Grey Market Premium (GMP) for the Fujiyama Power Systems IPO has now begun trading. Keep track of the latest GMP, Kostak, and Subject-to-Sauda rates for the most current market indications.

The Grey Market Premium (GMP) for the Fujiyama Power IPO fluctuated between ₹2 on November 18th and a high of ₹3 on November 19th.

Track Fujiyama Power Systems IPO GMP and Kostak rates daily.

Date	IPO GMP	GMP Trend	Gain
19 Nov	₹3		1.31%
18 Nov	₹2		0.87%

Fujiyama Power Systems IPO Timeline

Fujiyama Power Systems IPO Details

About the Business

Established in 2017, Fujiyama Power Systems Limited is a prominent manufacturer and integrated solutions provider in the rooftop solar sector, specializing in the production of on-grid, off-grid, and hybrid solar inverters. The company markets its products under two respected brands: the long-standing UTL Solar, with a 29-year legacy, and Fujiiyama Solar, both of which have established a strong reputation in the industry. Fujiyama has further expanded its global footprint by exporting to markets including the USA, Bangladesh, and the UAE.

A key differentiator is its advanced product portfolio, which includes specialized items like Single-card Online UPS, Combo UPS with AVR, High-frequency online UPS, and single-card SMT inverters, positioning Fujiyama as one of the few Indian companies capable of developing such sophisticated technology. This extensive reach is supported by a robust distribution and service infrastructure comprising over 725 distributors, 5,546 dealers, and 1,100 exclusive retail partners. The company’s commitment to customer-specific solutions is reinforced by a dedicated team of more than 602 qualified service engineers, trained to deliver customized solar systems.

Capillary Technologies India Ltd, a Bengaluru-based SaaS company founded in 2008, specializes in customer loyalty and engagement solutions. It offers an integrated suite of data-driven products including loyalty management, marketing automation, AI-powered analytics, and omnichannel CRM services. Serving over 250 major global brands like Tata, Domino’s, and PUMA across 30+ countries, the company operates on a subscription-based model.

Capillary Technologies has announced a Book Built Initial Public Offering (IPO) to raise approximately ₹877.50 crores, which includes a fresh issue of ₹345 crores and an offer for sale of up to 92,28,796 equity shares with a face value of ₹2 each. The public issue is set to open on November 14, 2025, and close on November 18, 2025, with a price band fixed between ₹549 and ₹577 per share.

The allotment of shares is scheduled for November 19, 2025, followed by a listing on both the BSE and NSE on November 21, 2025. Financially, the company has shown robust growth, with revenue increasing from ₹535.44 crores in 2024 to ₹611.87 crores in 2025. Notably, it achieved a significant turnaround by posting a profit of ₹13.28 crores in 2025, compared to a loss of ₹59.38 crores in the previous year.

Capillary Technologies IPO Details

Capillary Technologies IPO Dates

Capillary Technologies initial public offering (IPO) will be open for subscription from November 14 to November 18, 2025.

Capillary Technologies IPO Market Lot

The public offering for Capillary Technologies sets the minimum market lot at 25 shares, requiring an application amount of ₹14,425. Eligible retail investors are permitted to bid for up to 13 such lots, which translates to 325 shares and a maximum investment of ₹1,87,525.

Fujiyama Power Systems Limited, founded in 2017, is a key player in the rooftop solar industry, providing on-grid, off-grid, and hybrid solar solutions. With a vast portfolio of over 522 products including inverters, panels, and batteries, the company reduces reliance on other manufacturers. It operates through an extensive network of 725+ distributors, 5,546+ dealers, and 1,100+ franchise “Shoppes,” supported by 602+ service engineers. Products are manufactured across four facilities in North India, all ISO-certified for quality, environmental, and safety standards. The company also exports to markets like the USA, Bangladesh, and the UAE.

Fujiyama Power Systems Limited, also known as UTL Solar, is launching a Book Built Initial Public Offering (IPO) to raise approximately ₹828 crores. The issue comprises a fresh issue of ₹600 crores and an offer for sale of up to 1 crore equity shares with a face value of ₹1 each. The IPO opens on November 13, 2025, and closes on November 17, 2025, with a price band of ₹216 to ₹228 per share.

The allotment is scheduled for November 18, 2025, and the shares are set to list on both BSE and NSE on November 20, 2025. The investor allocation is divided as 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI). The company has demonstrated strong financial performance, with revenue increasing significantly from ₹927.20 crores in 2024 to ₹1,550.09 crores in 2025, while profits grew substantially from ₹45.30 crores to ₹156.34 crores during the same period.

Fujiyama Power Systems IPO Details

Fujiyama Power Systems IPO Dates

The Fujiyama Power Systems IPO is set to launch on November 13, 2025, and will remain open until November 17, 2025.

Fujiyama Power Systems IPO Market Lot

The public offering stipulates a market lot of 65 shares, requiring a minimum application amount of ₹14,820. Eligible retail investors are permitted to subscribe to a maximum of 13 such lots, translating to 845 shares and a cumulative investment of ₹1,92,660.