ESDS Software Solution IPO: Price Band, Lot Size, Financials & Review
ESDS Software Solution IPO listed on BSE & NSE on Fri, 4 Sep 2026. The issue was subscribed 135.88x overall.
- Open Date
- 28 Aug 2026
- Close Date
- 1 Sep 2026
Last updated
- Price band
- ₹408 – ₹429
- Lot size
- 34 shares
- Min. investment
- ₹14,586
- Issue size
- ₹720 Cr
- Last GMP
- +₹311
- Subscribed
- 🔥 135.88x
ESDS Software Solution IPO details
ESDS Software Solution IPO is a ₹720 Cr book-building IPO on the Mainboard segment, listing on BSE & NSE. It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
The issue was open from Fri, 28 Aug 2026 to Tue, 1 Sep 2026. Allotment was finalised on Wed, 2 Sep 2026, and the shares listed on BSE & NSE on Fri, 4 Sep 2026.
The price band is ₹408 to ₹429 per share and the lot size is 34 shares, so the minimum retail application is ₹14,586. Retail investors can apply for up to 13 lots (442 shares, ₹1,89,618).
MUFG Intime India Pvt Ltd is the registrar, and Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Systematix Corporate Services Limited are the book running lead managers.
Grey market premium (GMP)
Day-wise GMP →The last ESDS Software Solution IPO GMP before listing was +₹311 (+72.49% against the upper price band of ₹429), implying an estimated listing price of ₹740. Across 10 days of tracking, GMP ranged from +₹247 (03 Sep) to +₹372 (29 Aug).
| Last GMP | +₹311 |
|---|---|
| GMP vs upper band | +72.49% |
| Estimated listing price | ₹740 |
| Highest (29 Aug) | +₹372 |
| Lowest (03 Sep) | +₹247 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the ESDS Software Solution IPO day-wise GMP.
Subscription
Day-wise subscription →ESDS Software Solution IPO was subscribed 135.88x overall: QIB 261.51x, NII 192.94x and retail 39.64x.
| Category | Subscribed |
|---|---|
| QIB | 261.51x |
| NII | 192.94x |
| └ bNII (above ₹10 lakh) | 208.84x |
| └ sNII (₹2–10 lakh) | 161.14x |
| Retail | 39.64x |
| Total | 135.88x |
Final figures at the close of bidding on 1 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the ESDS Software Solution IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 50,34,964 | 30.00% |
| Qualified Institutions | 33,56,643 | 20.00% |
| Non-Institutional | 25,17,483 | 15.00% |
| └ BNII | 16,78,322 | 10.00% |
| └ SNII | 8,39,161 | 5.00% |
| Retail Investors | 58,74,126 | 35.00% |
| Total | 1,67,83,216 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
ESDS Software Solution IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,586 |
| Retail (Max) | 13 | 442 | ₹1,89,618 |
| S-HNI (Min) | 14 | 476 | ₹2,04,204 |
| S-HNI (Max) | 68 | 2,312 | ₹9,91,848 |
| B-HNI (Min) | 69 | 2,346 | ₹10,06,434 |
Amounts at the upper end of the price band.
Issue structure and valuation
It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
At the upper price band of ₹429, the issue is priced at 35.66x pre-issue earnings and 41.61x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
None of the listed peers in the prospectus has positive earnings, so a P/E comparison is not meaningful.
Promoter holding falls from 46.06% before the issue to 39.47% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹12.03 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 35.66x |
| EPS (post-issue) EPS on the enlarged share capital | ₹10.31 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 41.61x |
| Promoter holding (pre-issue) | 46.06% |
| Promoter holding (post-issue) | 39.47% |
ESDS Software Solution Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹376.64 Cr to ₹480.65 Cr, and profit after tax rose from ₹55.61 Cr to ₹120.82 Cr. The PAT margin for 31 Mar 2026 was 25.14%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,937.90 | 655.95 | 547.71 |
| Total Income | 480.65 | 376.64 | 292.14 |
| Profit After Tax | 120.82 | 55.61 | 13.61 |
| EBITDA | 234.23 | 154.89 | 101.88 |
| Net Worth | 528.81 | 405.55 | 206.36 |
| Reserve & Surplus | 533.62 | 407.54 | 216.62 |
| Total Borrowings | 42.92 | 62.71 | 149.04 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 25.12 | 17.27 | 6.23 |
| ROCE % | 32.78 | 24.73 | 14.53 |
| Debt / Equity | 0.08 | 0.15 | 0.66 |
| RoNW % | 22.85 | 13.71 | 6.59 |
| Pat Margin % | 25.59 | 15.39 | 4.75 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| ESDS Software Solution Ltd. | 1 | — | 12.03 | 11.81 | 22.85% | 52.66 |
| E2e Networks Ltd | 1 | — | -0.78 | -0.76 | -0.92% | 81.97 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Purchase and installation of cloud computing and other equipment and other infrastructure for our Data Centres |
| 2 | General corporate purposes |
About ESDS Software Solution Limited
Incorporated in August 2005, ESDS Software Solution Limited is an AI-enabled provider of cloud computing, managed services, data centre infrastructure, and software solutions in India. The company offers an integrated technology portfolio covering Infrastructure-as-a-Service (IaaS), managed services, and Software-as-a-Service (SaaS).
ESDS primarily serves customers across the Banking, Financial Services and Insurance (BFSI), government, and enterprise sectors, providing technology infrastructure and software solutions designed to support digital transformation, business continuity, cybersecurity, and data management requirements.
During Fiscal 2026, the company served approximately 2,501 customers and reported revenue from operations of ₹4,722.10 million.
Infrastructure-as-a-Service (IaaS)
ESDS's IaaS portfolio comprises a broad range of infrastructure and cloud-based offerings, including:
Data centre and colocation services
Public cloud
Private cloud
Virtual private cloud
Hybrid cloud
Community cloud
GPU-as-a-Service (GPUaaS)
The company operates five Tier 3 data centres across India, with an aggregate area of more than 75,266 sq. ft. These facilities are supported by redundant power infrastructure, disaster recovery capabilities, and 24/7 operational support, enabling customers to host and manage critical applications and workloads with a focus on availability, security, and business continuity.
Managed Services
ESDS provides managed technology services that enable customers to outsource the management and monitoring of their IT infrastructure and digital environments.
Its managed services portfolio includes:
Cloud management
Data centre management
Cybersecurity services
IT infrastructure management
Network management
Backup and disaster recovery
Database management
DevOps services
These offerings are designed to help customers improve operational efficiency, strengthen IT security, maintain system availability, and manage increasingly complex technology environments.
Proprietary Technology and AI Capabilities
A key component of ESDS's business is the development of proprietary technology platforms and software solutions.
One of its key technologies is SWARAJ Cloud, a patented cloud autoscaling technology developed by the company. The technology has subsequently evolved into an AI-enabled cloud platform with a focus on:
Data sovereignty
Scalability
Security
Regulatory and compliance requirements
Artificial intelligence capabilities
The platform is intended to address the growing demand for secure, scalable, and intelligent cloud infrastructure, particularly among organizations handling sensitive and regulated data.
Software-as-a-Service (SaaS) Portfolio
ESDS also develops and offers a range of SaaS-based technology solutions. Its software portfolio includes tools and platforms for data centre management, cybersecurity, network security, and AI-enabled infrastructure monitoring.
Key offerings include:
Data centre management solutions
Vulnerability scanning tools
Web Application Access Firewalls
VPN solutions
AI-powered GPU monitoring solutions
These proprietary applications complement the company's cloud and managed services offerings, allowing ESDS to provide customers with integrated infrastructure and software solutions.
Key Customer Segments
ESDS serves a diversified customer base across several sectors, with a particular focus on:
BFSI:
The company provides cloud infrastructure, data centre, cybersecurity, backup, disaster recovery, and other technology solutions to financial institutions and related organizations that require secure and compliant IT environments.
Government:
ESDS supports government and public-sector organizations with data centre infrastructure, cloud services, security solutions, and technology platforms, with an emphasis on data sovereignty and compliance.
Enterprises:
Enterprise customers use ESDS's cloud, managed services, cybersecurity, infrastructure, and SaaS offerings to support their applications, digital operations, data management, and technology transformation initiatives.
Data Centre Infrastructure
ESDS operates five Tier 3 data centres in India, providing the underlying infrastructure for its cloud and managed service offerings. The facilities are supported by redundant power systems, disaster recovery infrastructure, and round-the-clock operations.
This infrastructure enables the company to provide customers with hosting, colocation, cloud computing, backup, disaster recovery, and other mission-critical services.
Human Resources
As of June 30, 2026, ESDS had approximately 993 employees across its operations. Its workforce supports a broad range of functions, including:
Data centre operations
Cloud infrastructure
Cybersecurity and security management
Research and development
Sales and business development
Service delivery
Technology and software development
Other corporate and support functions
Overall Business Position
ESDS Software Solution Limited operates as an integrated cloud, data centre, managed services, and software technology provider. Its business model combines physical data centre infrastructure with cloud platforms, managed IT services, cybersecurity capabilities, and proprietary SaaS solutions.
The company's combination of five Tier 3 data centres, IaaS and managed services capabilities, proprietary cloud technology, AI-enabled solutions, and a diversified customer base across BFSI, government, and enterprise sectors provides it with an end-to-end technology offering.
With 2,501 customers in Fiscal 2026, ₹4,722.10 million of revenue from operations, and 993 employees as of June 30, 2026, ESDS has established a presence across multiple segments of India's growing digital infrastructure and cloud services market.
Promoters
- Piyush Prakashchandra Somani
- Komal Piyush Somani
- P.O. Somani Family Trust
Contact details
ESDS Software Solution
Plot No. B- 24 & 25,
NICE Area, MIDC, Satpur,
Nashik – 422007, Maharashtra, India
Nashik, Maharashtra, 422007
Phone: +91 253 711 2244
Email: secretarial@esds.co.in
Website: https://www.esds.co.in/
ESDS Software Solution IPO FAQs
- What is the ESDS Software Solution IPO price band?
- The ESDS Software Solution IPO price band is ₹408 to ₹429 per share.
- What is the ESDS Software Solution IPO lot size and minimum investment?
- The ESDS Software Solution IPO lot size is 34 shares. The minimum retail investment is ₹14,586 for one lot at the upper price band. Retail investors can apply for up to 13 lots (442 shares), costing ₹1,89,618.
- When was ESDS Software Solution IPO open for subscription?
- ESDS Software Solution IPO was open for subscription from Fri, 28 Aug 2026 to Tue, 1 Sep 2026.
- What is the ESDS Software Solution IPO subscription status?
- ESDS Software Solution IPO was subscribed 135.88x overall: QIB 261.51x, NII 192.94x and retail 39.64x. Day-wise and category-wise figures are on the subscription page.
- What was the ESDS Software Solution IPO GMP before listing?
- The last ESDS Software Solution IPO GMP before listing was +₹311 (+72.49% against the upper price band of ₹429), implying an estimated listing price of ₹740. Across 10 days of tracking, GMP ranged from +₹247 (03 Sep) to +₹372 (29 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the ESDS Software Solution IPO allotment date?
- The ESDS Software Solution IPO basis of allotment was finalised on Wed, 2 Sep 2026. You can check your allotment status on the MUFG Intime India Pvt Ltd website.
- What is the ESDS Software Solution IPO listing date?
- ESDS Software Solution IPO listed on BSE & NSE on Fri, 4 Sep 2026.
- Is the ESDS Software Solution IPO a fresh issue or an offer for sale?
- It is entirely a fresh issue of shares, so all the money raised goes to the company; there is no offer for sale by existing shareholders.
- Who are the registrar and lead managers of the ESDS Software Solution IPO?
- The registrar for the ESDS Software Solution IPO is MUFG Intime India Pvt Ltd, and the book running lead managers are Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) and Systematix Corporate Services Limited.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.