The IPO demonstrated unprecedented investor demand with 135.88 times subscription as of the final day of bidding, receiving bids for 1,67,85,63,340 shares against 1,23,52,942 shares on offer. As reported by The Economic Times, Non-Institutional Investors (NIIs) led the subscription at 192.94 times, followed by Qualified Institutional Buyers (QIBs) at 261.51 times and Retail Individual Investors (RIIs) at 39.64 times. The bidding window closed on September 1 with share allotment expected today and listing scheduled for September 4 at NSE and BSE. According to NSE until 3:04 pm on Tuesday, the subscription was led by NIIs at 180.60 times, followed by QIBs at 156.80 times and RIIs at 35.42 times.
ESDS Software Solution IPO allotment is expected to be finalised today, September 2, 2026, with investors able to check their status through MUFG Intime India's portal. The grey market premium (GMP) is currently around 60%, signalling strong investor interest and pointing to the possibility of a sizeable listing gain if the grey-market trend holds. According to The Economic Times, the current GMP trend indicates strong demand and the potential for a significant listing premium over the IPO price. The IPO opened for subscription on August 28 and closed on September 1, with share allotment expected today and listing scheduled for September 4.
The ₹720 crore IPO comprises entirely fresh equity shares worth 1.68 crore shares (1,67,83,216 shares) targeting total proceeds of ₹1,678.32 crore. According to The Economic Times, the issue is priced in the band of ₹408 to ₹429 per share with a lot size of 34 shares, requiring a minimum investment of ₹14,586 for retail investors. At the upper end of the price band, the issue values the company at a market capitalisation of approximately ₹5,028 crore. The IPO opened for subscription on August 28 and will list on NSE and BSE with a tentative listing date of September 4, 2026. Dam Capital Advisors Ltd. serves as the book running lead manager while MUFG Intime India Pvt. Ltd. acts as the registrar.
Prior to the public issue, ESDS Software Solutions raised ₹216 crore from anchor investors on August 27, demonstrating strong institutional confidence. The company's profit after tax (PAT) more than doubled to ₹120.82 crore, up 117% from ₹55.61 crore in the previous year, reflecting notable improvement in financial performance during FY26. The company plans to utilize ₹576 crore from the IPO proceeds to purchase and install cloud computing equipment and other infrastructure for its data centres, with the balance allocated for general corporate purposes. The company reported revenue from operations of ₹472.21 crore in fiscal 2026 compared with a net profit of ₹120.82 crore.
Incorporated in 2005, ESDS Software Solutions provides AI-enabled cloud, managed services, data centre infrastructure and software solutions, serving more than 2,500 customers in fiscal 2026 across banking, financial services and insurance, public sector entities, businesses and enterprises. The company offers an end-to-end portfolio comprising infrastructure-as-a-service (IaaS), managed services and software-as-a-service (SaaS), serving customers across BFSI, Government and enterprise segments. The company's Comprehensive Security-as-a-Service (SECaaS) framework enables businesses to proactively manage threats and achieve robust security and compliance objectives. The company operates five Tier 3 data centres across India, spanning more than 75,266 sq. ft., with 993 employees supporting operations as of June 30, 2026. The company's IaaS portfolio covers colocation and data centre services, public, private, virtual private, hybrid and community cloud solutions, and includes proprietary technology solutions like SWARAJ Cloud, its patented cloud autoscaling technology.
