ESDS Software Solution Ltd has announced a price band of ₹408 to ₹429 per share for its upcoming initial public offering (IPO) valued at ₹720 crore. The public subscription for the issue is scheduled to open on August 28 and will close on September 1, according to a public announcement.
Anchor investors will have the opportunity to bid a day prior to the public opening, on August 27. The IPO consists entirely of a fresh issue of equity shares, with no Offer-for-Sale (OFS) component involved in the offering.
The company intends to allocate the majority of the IPO proceeds—specifically ₹576 crore—towards purchasing and installing cloud computing and other equipment and infrastructure for its data centres. The remaining funds from the public issue have been earmarked for general corporate purposes.
At the upper end of the established price band, the total issue implies a market capitalisation of approximately ₹5,028 crore for the company. Incorporated in 2005, ESDS provides cloud, managed services, data centre infrastructure, and software solutions. It is positioned as one of the two players in India offering a full spectrum of GPU-as-a-Service (GPUaaS), cloud, managed services, data centre infrastructure, and software solutions, alongside being an early provider of community cloud services tailored for organizations with specific regulatory and data privacy requirements.
During fiscal 2026, the company reported serving over 2,500 customers across banking, financial services and insurance (BFSI), public sector entities, and general enterprises. Financially, ESDS recorded a revenue from operations of ₹472.21 crore and a net profit of ₹120.82 crore for fiscal 2026.
Regarding the allocation of the issue, 50 percent is reserved for qualified institutional buyers (QIBs), 15 percent is allocated for non-institutional investors (NIIs), and 35 percent is designated for retail investors. The equity shares are proposed to be listed on both the BSE and the NSE on September 4.
DAM Capital Advisors and Systematix Corporate Services are acting as the book-running lead managers for the public issue, while MUFG Intime India has been appointed as the registrar for the IPO.
"The public listing of ESDS Software highlights the growing capital requirements and expansion plans within India's digital infrastructure and cloud services sector. By opting entirely for a fresh issue rather than an Offer-for-Sale, the company is directly channelling capital into infrastructure development, particularly data centres and cloud computing equipment. This strategy reflects a clear focus on scaling operational capacity to meet rising enterprise and public sector demand, while providing the market with a pure-play investment option in the domestic data centre ecosystem." — Dr. Shishir Gupta, Founder & CEO, StartupLanes
