Four mainboard IPOs are currently open for subscription with closing dates ranging from August 28th to September 1st, providing investors with diverse sectoral exposure. According to latest reports, ESDS Software Solution IPO is valued at ₹720 crore comprising a fresh issue of 1.68 crore shares with a price band of ₹408-429 per share. The company has set a lot size of 34 shares per lot, requiring a minimum retail investment of ₹14,586 at the upper price band. Priority Jewels IPO is a smaller issue worth ₹91.50 crore with 0.46 crore shares priced between ₹190-200 per share and a lot size of 75 shares, necessitating a minimum retail investment of ₹15,000. Annu Projects IPO is valued at ₹175.06 crore with a price band of ₹94-99 per share and Lumino Industries IPO comprises a fresh issue worth ₹500 crore along with an offer for sale of up to ₹200 crore. DAM Capital Advisors and Systematix Corporate Services serve as the book-running lead managers, while MUFG Intime India has been appointed as the registrar.
ESDS Software Solution IPO demonstrated exceptional investor demand on its third and final day, with the issue subscribed 18.34 times by the end of Day 2, as reported by The Economic Times. The issue received bids for 10.26 crore shares against 1.17 crore shares on offer, with retail investors leading the subscription at 14.61 times and non-institutional investors subscribing 3.51 times. The qualified institutional buyers (QIBs) portion received bids for only 1% of the shares on offer so far. The three-day subscription period closed on September 1st, with share allotment expected on September 2nd and listing planned for September 4th on both BSE and NSE. Priority Jewels IPO, which began subscription on August 28th and closes on September 1st, has shown strong investor interest with overall subscription reaching 55.34 times, including 70.86 times in the retail category and 90.50 times in the non-institutional investor (NII) portion. However, the QIB response remained relatively softer at 1.82 times as of the final day. So far, the ESDS Software Solutions IPO has received bids worth ₹12,985.82 crore and attracted more than 29 lakh applications.
Latest grey market premium data shows ESDS Software Solution IPO maintaining strong momentum with a grey market premium (GMP) of ₹270 as of September 1st, indicating an estimated listing price of ₹699 per share and an expected listing gain of 62.94% over the upper price band of ₹429. This represents a significant increase from the previous ₹310 GMP recorded on August 28th, suggesting strengthening investor confidence. In the unlisted market, ESDS shares are trading at a grey market premium of ₹319 or 74.36%, suggesting its listing price at ₹748, based on the upper end of the price band. However, it is important to note that GMP is not a regulated indicator of listing price and is highly vulnerable to price manipulation. Priority Jewels IPO has shown volatile grey market performance, with the premium touching around ₹45 till yesterday before easing to around ₹10 as of today, suggesting an estimated listing price of ₹210 per share with a potential gain of 5%. Lumino Industries IPO follows with a GMP of ₹56.50 suggesting an estimated listing price of ₹138.5 per share with a potential listing gain of 68.90%. Annu Projects IPO shows a GMP of ₹3 indicating an estimated listing price of ₹102 per share with a potential gain of 3.03% over the upper price band of ₹99.
ESDS Software Solution reported exceptional financial performance with profit after tax more than doubling 117% to ₹120.82 crore from ₹55.61 crore a year earlier. According to The Economic Times, the company achieved a weighted average return on net worth (RoNW) of 17.09% over the last three financial years. On an EV/EBITDA basis, ESDS is valued at 16.30 times at the upper end and 15.40 times at the lower end of the price band for FY2026, compared with the peer group's average multiple of 99.49 times. The company operates five Tier 3 data centres across India, spanning more than 75,266 sq. ft., offering cloud, cybersecurity, data centre management, backup and disaster recovery, and DevOps services. As of June 30, 2026, the company had 993 employees and served 2,501 customers in FY26. During Fiscal 2026, ESDS Software Solution served 2,501 customers and recorded revenue from operations of ₹4,722.10 million. The company raised ₹216 crore from anchor investors ahead of the IPO and plans to use ₹576 crore from the issue proceeds to purchase and install cloud computing equipment and other infrastructure for its data centres, with the balance utilised for general corporate purposes.
Both Priority Jewels IPO and ESDS Software Solution IPO follow identical post-issue schedules, with allotment expected on September 2nd and stock-market debut scheduled for September 4th on both BSE and NSE. Unsuccessful applicants are expected to receive refunds on September 3rd, while shares allotted to successful investors are also expected to be credited to their demat accounts on September 3rd. This synchronized timeline ensures both issues maintain the same listing schedule, providing clarity for investors across both offerings. The basis of allotment is expected to be finalised on September 2nd, with the refunds and demat credit process scheduled for September 3rd, ensuring a smooth transition from subscription closure to market listing for both IPOs.
