Advertisement
The Gulf conflict has disrupted global supply chains, pushed...
REITs have changed the way commercial real estate is owned a...
What does it take to preserve a real estate legacy while bui...
What really powers the cloud? Behind every Google search, A...
A lot of what defines a home isn’t visible at handover. I...
ESDS Software Solution Ltd has fixed a price band of INR 408-429 per share for its INR 720-crore initial public offering, set to open for subscription on 28 August and close on 1 September. The IPO is entirely a fresh issue of equity shares, with INR 576 crore earmarked for purchasing and installing cloud computing equipment and data centre infrastructure. At the upper end of the price band, the issue implies a market capitalisation of approximately INR 5,028 crore.
ESDS Software Solution Ltd on Tuesday announced a price band of INR 408-429 per share for its INR 720-crore initial public offering (IPO). The issue, comprising an AI-enabled cloud, managed services, data centre infrastructure and software solutions provider, will open for public subscription on 28 August and close on 1 September 2026, with anchor investors permitted to bid a day earlier, on 27 August.
The IPO is entirely a fresh issue of equity shares, with no Offer-for-Sale component, meaning the full proceeds will flow into the company rather than to existing shareholders. According to the company, INR 576 crore of the proceeds will be used to purchase and install cloud computing equipment and other infrastructure for its data centres, while the remaining amount has been earmarked for general corporate purposes. At the upper end of the price band, the issue implies a market capitalisation of approximately INR 5,028 crore. The offer comprises 1.68 crore equity shares of face value INR 1 each, with a minimum bid lot of 34 shares, translating to a minimum retail investment of approximately INR 14,586 at the upper price band. Dam Capital Advisors Ltd is serving as the book-running lead manager for the issue, with MUFG Intime India Pvt Ltd acting as registrar.
Incorporated in 2005, ESDS is positioned as one of only two players in India offering the full spectrum of GPU-as-a-Service (GPUaaS), cloud computing, managed services, data centre infrastructure and software solutions, according to the company's disclosures. It was among the early cloud service providers in India to offer community cloud services tailored to organisations with specific data privacy, security, compliance and regulatory requirements. During fiscal 2026, the company served more than 2,500 customers across sectors including banking, financial services and insurance, public sector entities, and other businesses and enterprises, operating through five Tier 3 data centres.
On the financial front, ESDS reported total income of INR 480.65 crore in FY26, up 28 per cent year-on-year, while profit after tax surged 117 per cent to INR 120.82 crore. The company's EBITDA margin expanded to 49.60 per cent, with a PAT margin of 25.59 per cent, and its debt-to-equity ratio declined to 0.08, reflecting a strengthening balance sheet position ahead of the listing.
The IPO marks the company's second attempt at going public, having earlier filed preliminary papers with the Securities and Exchange Board of India in September 2021 before the process did not proceed to listing. ESDS subsequently refiled its draft red herring prospectus with SEBI in March, seeking to raise INR 600 crore, before revising the issue size upward to INR 720 crore ahead of the final offering. The company's listing comes amid continued growth in India's data centre and cloud services industry, driven by digitisation, artificial intelligence adoption, data-localisation requirements and rising demand for outsourced IT infrastructure across enterprise and government segments. Shares are proposed to be listed on both the BSE and NSE, with a tentative listing date of 4 September 2026.
Source PTI
Advertisement
Facebook
Whatsapp
