Shares of ESDS Software Solution are set to debut on the BSE and NSE on September 4. Ahead of the listing, the company’s IPO is commanding a grey market premium (GMP) of around 56%, indicating strong investor sentiment and raising expectations of a substantial listing gain if the grey-market trend translates into actual market performance.
The IPO, which was open for subscription from August 28 to September 1, received an overwhelming response across investor categories. Overall, the issue was subscribed 135.88 times. Retail investors subscribed 39.64 times their allotted portion, while Non-Institutional Investors (NIIs) bid for 192.94 times the shares reserved for them. Demand was strongest among Qualified Institutional Buyers (QIBs), with their portion subscribed 261.51 times.
ESDS Software Solution had set the IPO price band at Rs 408–Rs 429 per share, with the total issue size pegged at Rs 720 crore.
DAM Capital Advisors Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. was appointed as the registrar.
Before the IPO opened, ESDS Software Solution raised Rs 216 crore from anchor investors. The company allotted 50.34 lakh shares to anchor investors at Rs 429 per share.
ESDS Software Solution IPO Proceeds
The proceeds from the ESDS Software Solution IPO will primarily be utilised to expand and strengthen the company’s data centre infrastructure. Approximately Rs 576 crore is proposed to be allocated towards the purchase and installation of cloud computing equipment and other data centre infrastructure.
The balance of the IPO proceeds will be used for general corporate purposes, providing the company with flexibility to meet its broader business and operational requirements.
ESDS Software Solution Ltd. reported a significant improvement in its financial performance in FY26. Total income increased 28% year-on-year to Rs 480.65 crore, compared with Rs 376.64 crore in FY25.
Profitability improved even more sharply, with profit after tax (PAT) more than doubling to Rs 120.82 crore, up 117% from Rs 55.61 crore in the previous year. The strong growth in both revenue and profitability reflects a notable improvement in the company’s financial performance during FY26.
Incorporated in August 2005, ESDS Software Solution Limited is an AI-enabled provider of cloud, managed services, data centre infrastructure and software solutions in India. The company offers an end-to-end portfolio spanning Infrastructure-as-a-Service (IaaS), managed services and Software-as-a-Service (SaaS), catering to customers across the BFSI, government and enterprise segments. In FY26, the company served 2,501 customers and recorded revenue from operations of Rs 4,722.10 million.
Its IaaS portfolio covers colocation and data centre services, as well as public, private, virtual private, hybrid and community cloud solutions and GPU-as-a-Service (GPUaaS). ESDS operates five Tier 3 data centres across India, spanning more than 75,266 sq. ft. These facilities are supported by redundant power systems, disaster recovery infrastructure and round-the-clock services.
The company’s managed services portfolio includes cloud and data centre management, cybersecurity, IT infrastructure and network management, backup and disaster recovery, database management and DevOps services.
ESDS also develops proprietary technology solutions, including SWARAJ Cloud, its patented cloud autoscaling technology. The platform has evolved into an AI-enabled cloud solution focused on data sovereignty, scalability, security, compliance and AI capabilities. Its SaaS offerings include data centre management tools, vulnerability scanners, web access firewalls, VPN solutions and AI-powered GPU monitoring solutions.
As of June 30, 2026, the company had 993 employees supporting its data centre operations, cloud infrastructure, security management, research and development, sales, service delivery and other functions.
