In 2025, India’s IPO market remains active with several technology and digital transformation companies entering the public markets. Investor interest has been strong, supported by steady business performance across IT services, customer experience platforms, and automation-driven enterprises.
Amid this backdrop, Exato Technologies Limited is set to open its IPO on November 28, 2025. The company operates in the customer transformation and AI-driven automation space and caters to global enterprises across:
- BFSI sector
- Telecom sector
- Healthcare sector
- Retail sector, and
- IT sector
Here is a complete insight into Exato Technologies, its IPO, and the broader industry landscape.
About Exato Technologies Ltd.
Incorporated in 2016, Exato Technologies Limited is a customer transformation partner offering intelligent and scalable technology solutions. The company provides services across:
- CX and Analytics
- Conversational AI solutions
- Automation as a Service (RPA, workflow automation)
- Workforce Management
- Infrastructure and Unified Communications
Exato Technologies delivers AI-driven, cloud-enabled, and automation-led digital solutions that enhance customer experience, boost operational efficiency, and reduce enterprise costs. The company serves domestic and international markets, including the USA and Singapore.
Exato works with leading clients such as MakeMyTrip, RBL Bank, IGT Solutions, IKS, and WNS, providing enterprise-grade AI and automation solutions. As of October 31, 2025, the company has 133 permanent employees.
Exato Technologies IPO Details
The Exato Technologies IPO is a book-building issue of ₹37.45 crore, consisting of both a fresh issue and an offer for sale. The company intends to use the funds primarily for working capital, product development, and partial debt repayment.
GYR Capital Advisors Pvt. Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt. Ltd.
Important IPO Timeline
| Event | Date |
| IPO Open Date | November 28, 2025 |
| IPO Close Date | December 2, 2025 |
| Allotment Date (Tentative) | December 3, 2025 |
| Initiation of Refunds | December 4, 2025 |
| Credit of Shares to Demat | December 4, 2025 |
| Listing Date (Tentative) | December 5, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on December 2, 2025 |
Key IPO Details
| IPO Date | November 28, 2025, to December 2, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹133 to ₹140 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 26,75,000 shares (aggregating up to ₹37.45 Cr) |
| Reserved for Market Maker | 1,34,000 shares (aggregating up to ₹1.88 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) |
21,41,000 shares (aggregating up to ₹29.97 Cr) |
| Offer for Sale | 4,00,000 shares of ₹10 (aggregating up to ₹5.60 Cr) |
| Net Offered to Public | 25,41,000 shares (aggregating up to ₹35.57 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 77,90,371 shares |
| Share Holding Post Issue | 1,00,65,371 shares |
Lot Size of Exato Technologies IPO
| Application Category | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,80,000 |
| Retail (Max) | 2 | 2,000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,20,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,80,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,20,000 |
Exato Technologies Financials
Exato Technologies has demonstrated steady revenue growth and a significant improvement in profitability. Between FY2024 and FY2025, revenue grew by 10%, while profit after tax rose by 84%.
Here are the key financial details:
Key Company Financials (₹ in Crore)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 99.22 | 95.16 | 54.48 | 34.51 |
| Total Income | 71.53 | 126.16 | 114.91 | 73.13 |
| Profit After Tax | 7.26 | 9.75 | 5.31 | 5.06 |
| EBITDA | 11.46 | 15.95 | 9.07 | 6.12 |
| Reserves & Surplus | 41.96 | 42.29 | 26.99 | 21.69 |
| Total Borrowing | 27.98 | 31.63 | 16.52 | 6.21 |
Key Performance Indicators
| KPI | Value |
| ROE | 28.13 % |
| ROCE | 26.38 % |
| Debt to Equity | 0.75 |
| RoNW | 23.03 % |
| PAT Margin | 7.85 % |
| EBITDA Margin | 12.64 % |
| Price to Book Value | 2.52 |
| Market Capitalisation | ₹140.92 crore |
EPS & P/E Ratio
| Pre IPO | Post IPO | |
| EPS (₹) | 12.51 | 14.43 |
| P/E (x) | 11.19 | 9.7 |
Exato Technologies: Industry Outlook
The digital transformation industry continues to expand rapidly due to rising enterprise adoption of AI, cloud technology, automation, and customer experience platforms. Key drivers include:
- Growing demand for AI-driven customer support
- Increasing enterprise investment in digital and cloud infrastructure
- Rising adoption of workflow automation and RPA
- Expansion of omni-channel customer engagement models
- Demand for real-time analytics and intelligent automation
Exato Technologies is well-positioned to benefit from these trends due to its integrated digital transformation offerings, strong client relationships, and scalable technology capabilities.
Exato Technologies IPO: Peer Comparison
Exato Technologies IPO can be compared with peers such as Newgen Software Technologies Ltd, Route Mobile Ltd, Tanla Platforms Ltd, Coforge Ltd, and Persistent Systems Ltd. Evaluating these companies gives investors a clearer view of Exato Technologies’ positioning in the technology services and digital transformation space, helping them assess competitiveness, growth potential, and valuation before making an informed investment decision.
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Conclusion
Exato Technologies Ltd. offers investors exposure to the fast-growing areas of customer experience, AI, automation, and analytics, backed by blue-chip clients and long-term contracts. Its financials show improving profitability and healthy return ratios, though leverage is moderate.
At the same time, investors should keep in mind:
- It is an SME listing on BSE SME, where post-listing liquidity can be limited.
- Business performance is linked to IT spending cycles and competition from larger global and domestic tech players.
- Valuation must be weighed against growth visibility, contract concentration, and execution risk.
Overall, Exato Technologies IPO may appeal to investors looking for a focused play on CX and automation services, with awareness of the higher risk profile typical of SME tech listings.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
