Key Points
- ESDS Software Solution IPO price band set at ₹408 to ₹429 per share
- Subscription opens 28 August and closes 1 September with listing on 4 September
- Company to use ₹576 crore of proceeds for cloud computing infrastructure
ESDS Software Solution Limited, a Nashik-based enterprise cloud and data centre services provider, will open its initial public offering on Friday (28 August) with a price band of ₹408 to ₹429 per equity share. The subscription window will remain open until Tuesday (1 September), with shares expected to list on BSE and NSE on Friday (4 September).
The IPO comprises entirely a fresh issue, meaning the company will receive the full proceeds rather than existing shareholders selling their stakes. ESDS provides cloud computing infrastructure, managed services and AI solutions to enterprise and government customers across India, operating data centres that host applications and data for businesses.
The company plans to allocate ₹576 crore from the net IPO proceeds towards purchasing and installing cloud computing equipment and other infrastructure for its data centres during the financial years 2026-27 and 2027-28. The remaining funds will be used for general corporate purposes.
ESDS IPO structure
The minimum lot size for retail investors is 34 equity shares, with subsequent bids required in multiples of 34 shares. At the upper price band of ₹429, the minimum investment required is ₹14,586.
ESDS has reserved not more than 50 per cent of the shares for qualified institutional buyers, a category that includes mutual funds, insurance companies and foreign portfolio investors. Not less than 15 per cent has been allocated for non-institutional investors, while retail investors have been guaranteed at least 35 per cent of the offer.
Anchor investors, which are typically large institutional players who commit to the IPO before public subscription opens, will receive their allocation on Thursday (27 August).
The basis of allotment, which determines how shares are distributed when applications exceed available shares, is expected to be finalised on Wednesday (2 September). Refunds to unsuccessful applicants will be initiated on Thursday (3 September), with shares credited to successful allottees on the same day.
EDSD shareholding pattern
The company’s promoters, including Piyush Somani and others, currently hold a 46.06 per cent stake in ESDS. Public shareholders own 52.65 per cent of the company.
Among the notable public shareholders are Mukul Mahavir Agrawal, who holds a 6.99 per cent stake, and Ashish Kacholia, with a 2.39 per cent stake. Both are prominent investors in the Indian small and mid-cap space, known for identifying high-growth technology companies. Anchorage Capital Fund holds a 1.32 per cent stake.
The IPO size has been increased from the ₹600 crore proposed in the Draft Red Herring Prospectus filed by the company in March 2025. The Securities and Exchange Board of India approved the draft document in December 2025.
DAM Capital Advisors and Systematix Corporate Services have been appointed as the book-running lead managers for the issue, responsible for managing the IPO process and marketing the offering to investors. MUFG Intime India is serving as the registrar, handling share allotment and transfer of shares to investor accounts.
ESDS operates in the cloud infrastructure and managed services segment, competing with larger players such as CtrlS Datacenters and Netmagic Solutions. The company’s focus on artificial intelligence integration with its cloud services positions it in the growing enterprise AI adoption market in India.
By the numbers
- ₹408-₹429
- IPO price band per equity share
- ₹576 crore
- Proceeds earmarked for data centre infrastructure
- 46.06%
- Promoter stake in the company
On March 31, 2026, ESDS entered into a five-year AI cloud infrastructure agreement with an Australia-based neocloud provider, with an option to extend it by two years. The contract is valued at about $1.25 billion, or ₹11,831.25 crore based on the March 31 exchange rate cited by the company.
Under the agreement, the company will deploy and operate a dedicated AI infrastructure cluster at an existing data centre in Australia, comprising about 8,208 NVIDIA B300 GPUs and related storage infrastructure. The deployment is targeted for completion by September 2026, with revenue expected to start in the third quarter of fiscal 2027. Service fees will be paid monthly.
The company reported revenue from operations of ₹472.21 crore in fiscal 2026, compared with ₹286.52 crore in fiscal 2024. Net profit rose to ₹120.82 crore from ₹13.61 crore over the same period.
Your Questions, Answered
What is the ESDS Software Solution IPO price band?
The price band for ESDS Software Solution IPO is ₹408 to ₹429 per equity share of face value Re 1.
When does the ESDS Software Solution IPO open and close?
The IPO subscription opens on Friday, 28 August and closes on Tuesday, 1 September. Anchor investor allocation takes place on Thursday, 27 August.
What is the lot size for ESDS Software Solution IPO?
The minimum lot size is 34 equity shares. Subsequent bids must be in multiples of 34 shares, requiring a minimum investment of ₹14,586 at the upper price band.
When will ESDS Software Solution shares list on stock exchanges?
ESDS Software Solution shares are expected to list on BSE and NSE on Friday, 4 September 2026.
