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ESDS Software Solution IPO
Price Band
₹408.0–429.0
Issue Size
₹720.0 Cr
Lot Size
34 shares
Min Investment
₹14,586
GMP
+₹247.0 (57.58%)
Issue Price
₹429.0
Subject to Sauda
₹6400
Paid only if allotted
ESDS Software Solution IPO AI Summary
- ESDS Software Solution IPO is listed on BSE, NSE in the Software Products sector.
- Price band: ₹408.0–₹429.0 per share, lot size 34 shares (min. investment ₹14,586).
- Subscription window: 28 Aug–01 Sep 2026, listing on 04 Sep 2026.
- Current GMP is +₹247.0 (57.58%), an estimated listing price of ₹676 — unofficial and can change daily.
ESDS Software Solution is a leading cloud service provider in India, with a strong growth trajectory reflected in its financials. The company is set to utilize the proceeds from its IPO for enhancing its data center capabilities and general corporate purposes, while also showing significant oversubscription across various investor categories.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
ESDS Software Solution IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 01 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
142.88x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
274.97x
|
275x 🔥 |
| NII (HNI) |
202.87x
|
203x 🔥 |
| ↳ bNII (>₹10L) |
219.59x
|
220x 🔥 |
| ↳ sNII (<₹10L) |
169.43x
|
169x 🔥 |
| Retail (RII) |
41.68x
|
42x ✓ |
| Total | 142.88x | 142.88x |
Auto-updated every 5 min · As of 1st Sep 2026 18:56
ESDS Software Solution IPO Grey Market Premium (GMP) Today
GMP
+₹247.0
GMP %
+57.58%
Est. Listing
₹676.0
Updated: 04 Sep 2026 06:30
GMP Trend (Last 10 Days)
About the Company
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
Company Financials (₹ Cr)
As of 2026-03-31
| 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 |
| Reserves and Surplus | 533.62 | 407.54 | 216.62 |
| Total Borrowing | 42.92 | 62.71 | 149.04 |
Key Ratios
EPS
₹12.03
ROE
17.27%
ROCE
24.73%
RoNW
13.71%
P/E Ratio
35.66
Market Cap
₹5028.35 Cr
PAT Margin
15.39%
Debt/Equity
0.15
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| E2e Networks Ltd | 81.97 | -0.92% | -804.97 | -0.78 | -0.76 |
| ESDS Software Solution Ltd. This IPO | 52.66 | 22.85% | — | 12.03 | 11.81 |
Promoters
Piyush Prakashchandra Somani, Komal Piyush Somani, P.O.Somani Family Trust
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Purchase and installation of cloud computing and other equipment and infrastructure for Data Centres. 576.00 2 General Corporate Purposes 91.05 3 Issue Expenses 52.95 Total 720.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹292.14 Cr in the year ending 31 Mar 2024, increasing to ₹376.64 Cr by 31 Mar 2025, and further rising to ₹480.65 Cr by 31 Mar 2026.
Profit Trend
Profit After Tax was ₹13.61 Cr in the year ending 31 Mar 2024, growing to ₹55.61 Cr by 31 Mar 2025, and reaching ₹120.82 Cr by 31 Mar 2026.
Valuation
ESDS Software's EPS is ₹12.03, leading to an implied P/E of 35.66 at the issue price. This is compared to peers like E2e Networks Ltd, which has a P/E of -804.97.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the extra amount investors are willing to pay for shares before they are officially listed. A high GMP suggests strong demand and potential listing gains, but it can fluctuate and is not guaranteed.
Subscription Demand
The IPO was significantly oversubscribed, with a total subscription of 142.88 times. The Institutional category saw the highest demand at 274.97 times, while the Retail category was subscribed 41.68 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It is essential to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable returns may want to avoid IPOs that exhibit high volatility or are in emerging sectors like technology, where performance can be unpredictable.
IPO Timeline, Explained
The IPO opens for subscription on 28 August 2026 and closes on 1 September 2026. Allotment of shares will be done on 2 September 2026, with the listing date set for 4 September 2026.
Listing Gains — The Risk
Listing-day gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. Investors should be prepared for the possibility of price fluctuations after the stock begins trading.
This evaluation is generated from ESDS Software Solution's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is ESDS Software Solution IPO GMP today?
ESDS Software Solution IPO GMP today is +₹247.0 (57.58%), indicating an estimated listing price of ₹676. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of ESDS Software Solution IPO?
The price band of ESDS Software Solution IPO is ₹408.0–₹429.0 per share.
When does ESDS Software Solution IPO open and close?
ESDS Software Solution IPO opens on 28 August 2026 and closes on 01 September 2026.
When does ESDS Software Solution IPO list on the stock exchange?
ESDS Software Solution IPO listed on 04 September 2026 at ₹676.0.
What is the lot size for ESDS Software Solution IPO?
The lot size for ESDS Software Solution IPO is 34 shares, requiring a minimum investment of ₹14,586.
What is the lot size for this IPO?
The lot size for the ESDS Software Solution IPO is 34 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹14,586.
What is the price band for the IPO?
The price band for the ESDS Software Solution IPO is ₹408 to ₹429.
When is the listing date for the IPO?
The listing date for the ESDS Software Solution IPO is 4 September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the grey market before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
28 Aug 2026
Close
01 Sep 2026
Allotment
02 Sep 2026
Listing
04 Sep 2026
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