ESDS Software Solution IPO
LISTEDMAINBOARDListing Performance
▲ 76.46%
Issue Price
₹429
Listing Price
₹757
Listed On
04 Sep 2026
- Price Band
- ₹408 – ₹429
- Lot Size
- 34
- Lot Value
- ₹14,586
- Open Date
- 28 Aug28 Aug 2026
- Close Date
- 01 Sep01 Sep 2026
- Min Investment
- ₹14,586
ESDS Software Solution — Stock Performance
About ESDS Software Solution
ESDS is a provider of cloud computing infrastructure, managed services, data centre infrastructure and software solutions in India. The company offers a comprehensive portfolio including Infrastructure as a Service (IaaS), Managed Services, Software as a Service (SaaS), and colocation services across multiple data centres.
ESDS generates revenue through subscription and pay-per-use models for cloud services, managed IT services, SaaS applications, and data centre colocation services provided to enterprise, BFSI, and government customers.
Use of IPO Proceeds
Promoters
Piyush Prakashchandra Somani
Managing Director and Chairman · age 47
Pre-issue: 24.54%
Komal Piyush Somani
Whole-time Director · age 40
Pre-issue: 10.13%
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: Equity
Strengths (6)
- •One of only two Indian players offering complete spectrum of cloud, managed services, and data centre solutions
- •End-to-end offerings with 94.92% revenue retention rate enable deeper customer relationships across service lines
- •Strong government partnerships with STPI for asset-light data centre model with rapid scalability
- •Patented SWARAJ vertical autoscaling cloud technology and other proprietary software solutions for cost optimization
- •Long-term relationships with 100+ banks and established businesses with increasing customer tenure and engagement depth
- •Comprehensive Security-as-a-Service framework with advanced SIEM capabilities protecting 123+ customers across 7,175 devices
Risk Factors (6)
- •Rapid technological innovation and evolving industry standards require continuous investment and adaptation to remain competitive
- •Majority of revenue from India customers creates exposure to Indian macroeconomic downturn risks
- •First public issue with no formal market history makes future share price and trading unpredictable
- •Dependence on continued customer adoption of cloud and SaaS platform innovations to drive growth
- •Existing shareholders may sell pledged equity shares, potentially adversely affecting market price
- •Non-GAAP financial measures used may not be comparable with peer companies or standard methodologies
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 96.09x (QIB 167.61x, NII 161.92x, Retail 27.02x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | 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 |
Subscription Status
| Category | Day 1 | Day 3 | Day 4 | Day 5 |
|---|---|---|---|---|
| QIB | 0.01x | 167.61x | 0.38x | 167.61x |
| sNII (S-HNI) | 4.10x | 124.93x | 59.94x | 124.92x |
| bNII (B-HNI) | 2.02x | 180.41x | 63.71x | 180.41x |
| Retail | 1.92x | 27.03x | 14.69x | 27.02x |
| Total | 1.54x | 96.10x | 20.83x | 96.09x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
27.02x
Allotment Ratio
1 lot per 28 applicants
Allotment Probability
~3.7%
Non-Institutional Investors (NII / HNI)
Subscription
161.92x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
167.61x
Allotment Type
Discretionary allotment
Total Subscription
96.09x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
28 Aug 2026 · Fri
Issue Closes
01 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
01 Sep 2026 · 5:00 PM IST
Allotment
02 Sep 2026 · Wed
Listing
04 Sep 2026 · Fri
Issue Opens
28 Aug 2026 · Fri
Issue Closes
01 Sep 2026 · Tue
Bidding Cut-off (UPI Mandate)
01 Sep 2026 · 5:00 PM IST
Allotment
02 Sep 2026 · Wed
Listing
04 Sep 2026 · Fri
IPO Details
| Registrar | MUFG Intime India Private Limited |
| Exchange | Equity |
| ISIN | — |
| Face Value | ₹1 |
| Issue Size | ₹720.00 Cr |
| Fresh Issue | ₹720.00 Cr |
| OFS Size | — |
| Lead Managers | DAM Capital Advisors Limited, Systematix Corporate Services Limited |
3-Year Financial Summary
Revenue trend
↑ FY24→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 361.34 | 55.61 | — | — | — |
| FY24 | 286.52 | 13.61 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 |
|---|---|---|
| EBITDA | 101.88 | 154.89 |
| Net Worth | 206.36 | 405.55 |
From the company's offer document (DRHP/RHP); restated figures where available.
Check the valuation yourself
Company Fundamentals
11 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹1.00 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: ESDS Software Solution offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in ESDS Software Solution's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in ESDS Software Solution's filing.
Source: ESDS Software Solution offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB50.00%
- NII / HNI15.00%
- Retail35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: ESDS Software Solution offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Piyush Prakashchandra Somani₹1.47 Cr p.a.
Managing Director and Chairman
Founder and promoter with interest in formation and promotion of the Company
- Komal Piyush Somani₹0.78 Cr p.a.
Whole-time Director
Promoter with interest in promotion of the Company
- Sameer Suresh Redij₹0.65 Cr p.a.
Additional Director (Executive)
Chief Business Officer of the Company
- Thandankorai Ganapathy Dhandapani₹0.09 Cr p.a.
Independent Director
- Pamela Kumar₹0.09 Cr p.a.
Independent Director
- Venkatesh Natarajan₹0.09 Cr p.a.
Independent Director
Key Managerial Personnel (2)
- Nadukuru Sita Ramaiah₹0.54 Cr p.a.
Chief Financial Officer
B.Com from Sambalpur University; M.Com from Berhampur University
More than 28 years in finance; prior roles at RMSI, R-Systems, Open Solutions, Microsemi, ZF India, Advanced System in Package Technologies
- Prasad Deochand Deokar₹0.21 Cr p.a.
Company Secretary and Compliance Officer
Associate member of Institute of Company Secretaries of India; Bachelor's degree in Law from University of Pune
Over 10 years in secretarial compliance; prior roles at Ashoka Buildcon, Voltaire Leasing & Finance
Source: ESDS Software Solution offer document (DRHP/RHP).
Industry & Market
Per Nexdigm Report - India Data Centre, Cloud Services and Managed Services Industry, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| ESDS Software Solution | — | 12.03 | 22.85 | 52.66 |
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Civil | Company | 1 | 1.848 |
| Tax | Company | 1 | 0.397 |
The company faces one material litigation involving a former employee, Rajeev Suryaprakash Papneja, claiming entitlement to 1% shares or compensation of ₹184.80 million. Additionally, the company has GST-related tax proceedings and TDS payment delays, though GST matters have been resolved as of the RHP date.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:MUFG Intime India Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the ESDS Software Solution IPO opening?
The ESDS Software Solution IPO opens on 28 Aug 2026 and closes on 01 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the ESDS Software Solution IPO?
The price band for the ESDS Software Solution IPO is ₹408 to ₹429. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the ESDS Software Solution IPO?
The minimum lot size is 34 shares with a minimum investment of ₹14,586. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of ESDS Software Solution IPO today?
The latest Grey Market Premium for ESDS Software Solution is ₹255 (+59.44%). GMP is unofficial data and is not a guarantee of listing price.
When will the ESDS Software Solution IPO list on NSE and BSE?
The ESDS Software Solution IPO is expected to list on 04 Sep 2026 on Equity. Actual listing day trading begins at the start of the normal market session.
How can I check the ESDS Software Solution IPO allotment status?
The registrar for this IPO is MUFG Intime India Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the ESDS Software Solution IPO a mainboard or SME issue?
ESDS Software Solution is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the ESDS Software Solution IPO?
You can apply for the ESDS Software Solution IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of ESDS Software Solution IPO?
The GMP-implied price (unofficial, not a forecast) is ₹684: the upper price band of ₹429 plus the latest grey market premium of ₹255, as of 28 Sep 2026, 01:01 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for ESDS Software Solution IPO?
Based on the retail subscription of 27.02x, the estimated allotment ratio is 1 lot per 28 applicants (approximately 3.7% chance of allotment). This is an estimate and actual allotment may vary.
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