According to Nuvama Alternative & Quantitative Research, as many as 2.5 million shares of the company will free up for trade when the one-month shareholder lock-in ends today. The number of shares that will free up for trade amount to 2.5% of the company’s outstanding equity.
It must be noted that the end of the shareholder lock-in does not mean that all the shares that free up for trade will be sold in the open market. They only become eligible to be traded.
Based on last Thursday’s closing price, the total value of shares of ESDS Software that will become eligible to be traded is worth ₹358.5 crore.
Shares of ESDS Software had listed on the bourses on September 4, at a 76% premium compared to its issue price of ₹429 per share. The stock immediately doubled from its issue price.
Within a few days, the stock went on to make a post-listing high of ₹1,859.2, which is a return of over 4x from its issue price.
However, the stock entered correction mode after it reported its first quarter results last week, the first after its results.
For the June quarter, ESDS’ revenue declined by 20% on a sequential basis, while its profitability more than halved, reporting a drop of 57% from the previous quarter.
Revenue growth in the first quarter stood at 7.3%, well below the Compounded Annual Growth Rate (CAGR) of 28.4% that was reported between financial year 2024-2026. Net profit of just ₹29 crore during the quarter was well below the Choice Broking estimate of ₹250 crore.
Since then, the stock has been declining and has dropped 23% over the last five trading sessions. The stock is down another 5% on Monday at ₹1,362.4, extending their losses from its post-listing high.
First Published: Oct 5, 2026 8:14 AM IST