ESDS IPO Fully Subscribed Within Hours on Day 1
Enterprise cloud and AI company ESDS Software Solution’s IPO was fully subscribed within hours of opening for bids. Demand was primarily driven by retail and non-institutional investors.
The Initial Public Offering (IPO) of enterprise cloud and AI company ESDS Software Solution was fully subscribed within hours of its opening on Monday, driven by strong demand from retail and non-institutional investors.
According to data from the Bombay Stock Exchange (BSE), investors had placed bids for 1.26 crore shares against the 1.24 crore shares on offer by 12:27 PM IST, resulting in an overall subscription rate of 1.02 times. The portion reserved for retail investors was subscribed 1.4 times, and the non-institutional investor (NII) portion saw a subscription of 1.5 times.
Interest from Qualified Institutional Buyers (QIBs) was negligible in the early hours of bidding. ESDS is seeking to raise approximately ₹720 crore through this IPO. The company's shares are expected to list on the BSE and NSE on September 4.
Founded in 2005 and based in Nashik, India, ESDS provides cloud computing, data center, managed services, and AI-led digital solutions. This is not ESDS's first IPO attempt; a previous plan in 2021 was withdrawn due to the pandemic. The company plans to use the proceeds for acquiring and installing cloud computing equipment and infrastructure, as well as for general corporate purposes.
Prior to the IPO, ESDS raised ₹216 crore from anchor investors. The company reported a consolidated net profit of ₹120.8 crore for FY26, more than double the previous fiscal year. Operating revenue rose 30.7% to ₹472.2 crore.