ESDS Software Solution IPO

The ESDS Software Solution mainboard IPO opens for subscription on 28 Aug 2026 and closes on 1 Sept 2026, offered at a price band of ₹408–429 per share, and is set to list on NSE and BSE. In total, the issue aims to mobilise ₹720 crore. Retail investors bid in lots of 34 shares, a minimum application of ₹14,586.

Issue structure

The IPO is structured entirely as a fresh issue of ₹720 crore, so the full proceeds flow to the company to fund its stated objects of the issue.

Objects of the issue

Per the offer document, the company intends to deploy the net proceeds primarily toward purchase and installation of cloud computing and other equipment and infrastructure for data centres. (₹576 crore), alongside general corporate purposes.

Financials

In FY2026, ESDS Software Solution reported revenue of ₹480.65 crore and a net profit of ₹120.82 crore. Revenue grew from ₹292.14 crore in FY2024 to ₹480.65 crore in FY2026 (+65.0%). Net worth stood at ₹528.81 crore at the end of FY2026. At the upper band, that puts the issue at roughly 35.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.

Valuation

At the upper band, the issue is priced at 41.61× post-issue earnings and 8.15× book value, against a return on net worth of 22.85% and a debt-to-equity ratio of 0.08. These ratios come from the offer document and are for comparison, not a recommendation.

Promoters

The promoters of the company are <p>Piyush Prakashchandra Somani, Komal Piyush Somani, P.O.Somani Family Trust</p>. Promoter holding stands at 46.06% before the issue and comes down to 39.47% after listing.

Grey market premium (GMP)

In the unofficial grey market, ESDS Software Solution shares are quoted at a premium of ₹250 implying an expected listing around ₹679, about +58.3% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.

What to weigh

When evaluating the ESDS Software Solution IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.

About ESDS Software Solution

Incorporated in 2005, ESDS Software is a leading managed cloud service and end-to-end multi-cloud requirements provider in India. The company provides one-stop solutions to its customers for cloud adoption. The company's offerings can be divided into - Cloud Computing Infrastructure as a Service (IaaS), which includes the company's patented vertically auto-scalable cloud technology platform, 'eNlight Cloud' Software as a Service (SaaS), and Managed Services. ESDS Software offers products across diversified industries including government ministries & companies and corporate entities across sectors such as BFSI, manufacturing, IT and ITES, telecom, real estate, pharmaceuticals, retail, and education and in several countries across the APAC region, Europe, Middle East, the Americas, and Africa. The company operates its business through 3 data centres in India, one each in Navi Mumbai, Nashik, and Bengaluru. The data centres cover an aggregate area of over 50,000 sq. feet and are connected on a 10 Gbps backbone network. Competitive Strengths: "One stop shop" for customer's cloud adoption A robust and scalable business model with multiple levels of growth Innovative billing solutions for customers One of the leading cloud service providers of India Experienced senior management