ESDS Software IPO GMP Today: The ESDS Software Solution IPO opened on August 28 and will remain open for subscription until September 1. The company has set the price band for its Rs 720 crore initial public offering at Rs 408-429 per share.
The ESDS Software Solution IPO GMP, or grey market premium, stood at Rs 360 today. Based on the upper end of the IPO price band and the prevailing grey market premium, the estimated listing price was Rs 789 per share, indicating a 83.92 per cent premium over the IPO price of Rs 429.
Recent grey market trends over the past four sessions show that the IPO’s GMP has been moving upward, pointing to a positive sentiment ahead of the listing. During this period, the GMP ranged between Rs 275 and Rs 365.
The ESDS Software Solution IPO was subscribed 2.10 times on the first day of bidding so far. The retail portion was subscribed 2.69 times, while the NII category saw 3.51 times subscription. The QIB portion is subscribed just 0.01 times.
According to NSE data, the company had received bids for 2,59,77,972 shares against the 1,23,52,942 shares on offer.
ESDS software solution IPO details
The public issue comprises entirely a fresh issue of equity shares and does not include any offer-for-sale (OFS) component. ESDS Software Solution intends to utilise Rs 576 crore from the IPO proceeds to purchase and install cloud computing equipment and other infrastructure for its data centre operations. The remaining funds will be used for general corporate purposes.
Under the issue allocation, 50 per cent of the shares are reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors.
Established in 2005, ESDS offers cloud services, managed services, data centre infrastructure and software solutions. It is also among the two companies in India providing the complete range of GPU-as-a-Service (GPUaaS), alongside cloud, managed services, data centre infrastructure and software solutions.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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