Ahead of its debut, ESDS Software Solutions shares were commanding a premium of around 57% in the grey market.
The ₹720-crore IPO opened for subscription on August 28 and closed on September 1, with the price band fixed at ₹408-429 per share.
The issue was subscribed 135.88 times at the close. Investors placed bids for 1,67,85,21,146 equity shares against 1,23,52,942 shares on offer.
Qualified institutional buyers (QIBs) led the demand, with their portion subscribed 261.51 times. The non-institutional investors (NIIs) category was subscribed 192.93 times, while the retail investor portion was subscribed 39.64 times.
Ahead of the IPO, ESDS raised ₹216 crore from anchor investors.
The company plans to use ₹576 crore of the IPO proceeds to purchase and install cloud computing equipment and other infrastructure for its data centres. The remaining funds will be used for general corporate purposes.Incorporated in 2005, ESDS provides cloud, managed services, data centre infrastructure and software solutions. In FY26, the company served more than 2,500 customers across banking, financial services and insurance, public sector entities, businesses and enterprises.
ESDS’ total income rose 28% year-on-year to ₹480.65 crore in FY26, compared with ₹376.64 crore in FY25. Profit after tax (PAT) more than doubled to ₹120.82 crore, up 117% from ₹55.61 crore a year earlier.
