ESDS Software Solution share price: The stock of ESDS Software Solution listed at Rs 757 per share on the NSE, compared with the issue price of Rs 429, marking a 76.5 per cent premium. On the BSE, the stock listed at Rs 746.30 per share, a 74 per cent premium over the issue price.
The stock extended its gains and hit the 20% upper circuit at Rs 908.40. At this level, ESDS Software Solution shares were trading around 111.75% above the IPO price, more than doubling the value of the allotted shares.
ESDS Software Solution IPO
The IPO received bids for 1,67,85,63,340 shares against 1,23,52,942 shares on offer, as per data available with the NSE.
ESDS Software Solution IPO Subscription Status
The portion for qualified institutional buyers (QIBs) got subscribed 261.51 times, while the quota for non-institutional investors received 192.94 times subscription. The category for retail investors was subscribed 39.64 times.
The ESDS Software Solution IPO was subscribed 2.10 times on the first day of bidding on Friday.
ESDS Software Solution, an AI-enabled cloud, managed services, data centre infrastructure and software solutions provider, on Thursday raised Rs 216 crore from anchor investors.
The IPO was entirely a fresh issue of equity shares aggregating up to Rs 720 crore and has a price band of Rs 408-429 per share.
ESDS plans to utilise Rs 576 crore of the IPO proceeds to purchase and install cloud computing and other equipment and infrastructure for its data centres. The remaining funds will be used for general corporate purposes.
At the upper end of the IPO price band, the market capitalisation of the company stands at around Rs 5,028 crore.
(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.)
