The initial public offering (IPO) of ESDS Software Solutions Limited continues to generate intense interest among market participants on its second day of bidding. Data from the National Stock Exchange (NSE) indicates that the mainboard issue was subscribed 6.4 times by 10:35 AM on August 31. The robust bidding pattern is accompanied by strong activity in the unofficial market, where the esds ipo gmp signals listing gains approaching 78%.
ESDS Software IPO Overview and Key Offer Details
ESDS Software Solution Limited, founded in 2005, is an Indian provider of cloud infrastructure, enterprise software solutions, data center infrastructure, and managed IT services. The company holds proprietary technology assets like SWARAJ Cloud, an autoscaling cloud platform designed around enterprise-grade security and data sovereignty.
The public issue represents a total fundraising effort of ₹720 crore, structured entirely as a fresh issue of 1.68 crore equity shares with no Offer For Sale (OFS) element.
Price Band, Issue Size, and Lot Details
| Key Parameter | Offer Details |
| IPO Opening Date | August 28 |
| IPO Closing Date | September 1 |
| Price Band | ₹408 to ₹429 per equity share |
| Issue Type | 100% Fresh Issue (₹720 Crore) |
| Lot Size | 34 Equity Shares |
| Minimum Retail Investment | ₹14,586 (at upper band) |
| Face Value | ₹1 per share |
Day 2 Subscription Breakdown: NII and Retail Lead the Charge
Bidding trends reflect significant appetite across non-institutional and retail segments. The issue received bids for 7,93,46,208 shares against an overall offering of 1,23,52,942 equity shares.
Category-Wise Bidding Status
- Non-Institutional Investors (NII): The segment recorded the highest demand, with the quota booked 17.21 times. High-net-worth investors showed strong interest driven by the prevailing grey market premium.
- Retail Individual Investors (RII): Retail investors subscribed their assigned quota 5.45 times, highlighting strong participation from small lot bidders.
- Qualified Institutional Buyers (QIB): Institutional bidding traditionally gains momentum toward the close on the final subscription day. Anchor investors previously committed ₹216 crore prior to the public open.
ESDS Software IPO GMP: Grey Market Premium Signals 78% Listing Premium
The esds ipo gmp remains a central point of interest for retail and HNI investors seeking short-term listing upside. According to grey market tracking platforms, ESDS Software shares traded at a premium of ₹335 over the issue price on Day 2.
Estimated Listing Price Calculation
| Metric | Calculation & Details |
|---|---|
| Formula | Estimated Listing Price = Upper Price Band + Grey Market Premium (GMP) |
| Estimated Listing Price | ₹429 + ₹335 = ₹764 |
| Implied Gain (%) | (₹335 / ₹429) × 100 ≈ 78.09% |
At the upper price cap of ₹429, an unofficial premium of ₹335 suggests an estimated listing price of ₹764 per share, translating to an expected gain of 78.09%.
Note: Grey market premiums are unofficial indicators derived from over-the-counter quotes and should not serve as the sole financial basis for investment decisions.
ESDS Software Solutions Business Model & Financial Highlights
ESDS operates 5 Tier-3 data centers located in Nashik, Noida, Bengaluru, Mohali, and Airoli. The firm delivers Infrastructure-as-a-Service (IaaS), Software-as-a-Service (SaaS), and managed IT hosting to over 2,500 clients across banking, enterprise, and government sectors.
Financial Growth Metrics (FY24 to FY26)
| Metric | FY 2024 | FY 2025 | FY 2026 |
| Total Revenue (₹ Cr) | ₹292.14 | ₹376.64 | ₹480.65 |
| EBITDA Margin (%) | 35.60% | 42.86% | 49.60% |
| Profit After Tax (PAT) (₹ Cr) | ₹13.61 | ₹55.61 | ₹120.82 |
| Return on Net Worth (RoNW) | — | 13.71% | 22.85% |
The financial data demonstrates expanding operating leverage: revenue grew at a CAGR of 28.4%, while Profit After Tax (PAT) rose by 117% in FY26.
Utilization of IPO Proceeds
Because the issue is 100% fresh equity, all net capital raised directly enters the business balance sheet:
- ₹576 Crore: Dedicated to purchasing and installing cloud computing hardware and expanding data center infrastructure.
- Balance Proceeds: Reserved for general corporate operational requirements.
Important Dates and Allotment Schedule
Investors applying for the ESDS Software IPO should note the operational timeline following the closing of the subscription window:
- Subscription Period: August 28 to September 1
- Basis of Allotment Finalization: September 2
- Initiation of Refunds/Unblocking Funds: September 3
- Credit of Shares to Demat Accounts: September 3
- Listing Date (NSE & BSE): September 4
Frequently Asked Questions (FAQs)
What is the current esds ipo gmp?
As of Day 2 of bidding, the grey market premium (GMP) for ESDS Software Solutions IPO is commanding around ₹335. Against the upper price band of ₹429, this suggests an estimated listing price of ₹764, translating to potential listing gains of approximately 78.09%.
What is the issue size and price band for ESDS IPO?
The ESDS Software Solution IPO is a ₹720-crore public issue consisting entirely of a fresh issue of 1.68 crore equity shares. The price band has been fixed at ₹408 to ₹429 per share, with a minimum lot size of 34 equity shares.
What is the Day 2 subscription status for ESDS Software IPO?
By 10:35 AM on Day 2, the ESDS Software IPO was subscribed 6.4 times overall. The Non-Institutional Investor (NII) category led subscription at 17.21 times, while the Retail Investor category was subscribed 5.45 times.
What is the tentative listing date for ESDS Software IPO?
The tentative listing date for ESDS Software Solutions Limited shares on the BSE and NSE stock exchanges is September 4. Allotment finalization is scheduled for September 2, followed by the credit of shares to demat accounts.
How does ESDS Software plan to use its IPO funds?
The company plans to deploy approximately ₹576 crore of the net proceeds toward purchasing cloud computing equipment and expanding data center capacity. The remaining funds will be allocated toward general corporate purposes to support corporate growth.
Conclusion
The strong Day 2 bidding metrics (6.4x total subscription) combined with a ₹335 esds ipo gmp reflect substantial investor confidence in ESDS Software Solution Limited. Driven by high NII appetite, expanding EBITDA margins, and pure fresh capital deployment for data center capacity, the issue presents notable growth prospects. Investors should evaluate their risk profile against sector valuation multiples before submitting bids prior to the September 1 closing date.
