ESDS Software Solution IPO Day 3 Final Subscription Status: 140.84x Subscribed; GMP at ₹250
ESDS Software Solution IPO Day 3 Final Subscription Status ended at 140.84 times after bidding closed on 1 September 2026. Qualified Institutional Buyers (QIBs) led the final book at 272.19x, followed by Non-Institutional Investors (NIIs) at 201.88x and retail investors at 39.63x. The latest available Grey Market Premium (GMP) was around ₹250, down from ₹328 previously. The ₹720 crore Initial Public Offering (IPO) is now closed, with listing expected on 4 September 2026.
| Metric | Final update |
| Bidding day | Day 3, Closing Day |
| Data status | Final after bidding closed on 1 September 2026 |
| Overall subscription | 140.84x |
| QIB subscription | 272.19x |
| NII subscription | 201.88x |
| Retail subscription | 39.63x |
| Other reserved category | Not separately reported |
| Latest GMP | Around ₹250 |
| GMP percentage | 58.3% |
| Indicative price | ₹679 |
| Closing date | 1 September 2026 |
ESDS Software Solution IPO Day 3 Final Subscription Status
The ESDS Software Solution IPO Day 3 final subscription figure settled at 140.84x, with all three main investor categories ending well above their reserved portions.
| Investor category | Day 3 final subscription |
| Qualified Institutional Buyers (QIBs) | 272.19x |
| Non-Institutional Investors (NIIs) | 201.88x |
| Big NII | 219.26x |
| Small NII | 167.13x |
| Retail Individual Investors | 39.63x |
| Overall | 140.84x |
QIBs finished with the highest multiple after participation increased sharply on Closing Day. NII demand was also substantial across both the big-NII and small-NII segments, while retail bidding closed at 39.63x.
These multiples represent the quantity of shares bid for relative to shares available in each category. They do not indicate the number of unique investors. Reservation sizes also differ by category, so the multiples should not be compared without that context.
Final Day-wise Subscription Trend
The Day 3 final subscription data shows how sharply demand accelerated over the bidding period.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 2.21x | NII, 3.70x |
| Day 2 close | 25.77x | NII, 73.34x |
| Day 3 Final | 140.84x | QIB, 272.19x |
Overall demand rose from 2.21x on Day 1 to 25.77x at the Day 2 close, before reaching 140.84x in the final book.
The most important Closing Day development was QIB participation. QIB subscription moved from 0.76x at the Day 2 close to 272.19x finally, making institutional bidders the highest-subscribed category. NIIs remained another major source of demand, rising from 73.34x to 201.88x, while retail moved from 19.67x to 39.63x.
The final demand was therefore broad across QIB, NII, and retail categories rather than being dependent on one segment alone.
ESDS Software Solution IPO GMP Today and Estimated Listing Price
The latest available ESDS Software Solution IPO GMP was around ₹250 per share on 1 September 2026, compared with about ₹328 on 31 August.
| GMP observation | GMP | Movement |
| Latest available on 1 September 2026 | Around ₹250 | Down |
| Previous available reading | Around ₹328 | Down ₹78 |
At the ₹429 upper price band:
Indicative price = ₹429 + ₹250 = ₹679
GMP percentage = ₹250 ÷ ₹429 × 100 = about 58.3%
The GMP therefore indicates an unofficial premium of roughly 58.3% over the upper issue price. However, GMP readings can differ between trackers and move materially before listing.
Grey Market Premium is unofficial, unregulated, and not published by the Securities and Exchange Board of India (SEBI), National Stock Exchange of India (NSE), or BSE Limited (BSE). It does not guarantee the actual listing price or investor returns.
What Stands Out in Today’s Bidding
Two signals are particularly notable in the final data.
Institutional participation arriving heavily on the closing day: QIB demand moved from below 1x at the end of Day 2 to 272.19x in the final book. At the same time, NIIs and retail investors also ended at substantial multiples, making the final demand broad-based.
Clear subscription-GMP divergence: The Day 3 final subscription jumped to 140.84x, but the latest GMP fell to around ₹250 from ₹328 previously. This reinforces why the two indicators should not be treated as interchangeable measures of demand.
High subscription does not establish fair valuation, business quality, or future returns. Likewise, GMP remains an informal sentiment indicator that can change before listing.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹408 to ₹429 per share |
| Lot size | 34 shares |
| Minimum retail investment | ₹14,586 |
| Issue size | ₹720 crore |
| Fresh issue | ₹720 crore |
| Offer for Sale (OFS) | Nil |
| Issue type | Book-built mainboard IPO |
| Closing date | 1 September 2026 |
| Expected listing date | 4 September 2026 |
| Exchanges | NSE and BSE |
The entire ₹720 crore issue is a fresh issue. At the upper price band, one retail lot of 34 shares required ₹14,586.
Brief Company and Financial Context
ESDS Software Solution provides cloud infrastructure, managed services, data-centre services, and software solutions. Its revenue from operations increased to about ₹472.21 crore in FY2026 from ₹361.34 crore in FY2025, while profit after tax rose to ₹120.82 crore from ₹55.61 crore. Total income, which also includes other income, stood at ₹480.65 crore in FY2026.
The company intends to use ₹576 crore of the fresh-issue proceeds to purchase and install cloud-computing equipment and infrastructure for relevant data centres, with the balance allocated to general corporate purposes. Rapid technological change, customer concentration, and execution of the planned capital expenditure remain material considerations.
What Happens Next
With bidding closed, the focus now shifts to the post-IPO timetable. The basis of allotment is expected to be finalised on 2 September 2026, followed by refunds or fund unblocking and equity-share credit on 3 September 2026.
ESDS Software Solution shares are expected to list on the NSE and BSE on 4 September 2026, subject to the published schedule.
Frequently Asked Questions (FAQs)
Q: What is the ESDS Software Solution IPO Day 3 final subscription?
A: The ESDS Software Solution IPO Day 3 final subscription stood at 140.84x after bidding closed on 1 September 2026. QIBs were subscribed 272.19x, NIIs 201.88x, and retail investors 39.63x.
Q: Which category led the ESDS Software Solution IPO final subscription?
A: Qualified Institutional Buyers led the final demand at 272.19x. NIIs followed at 201.88x, while the retail category was subscribed 39.63x. QIB participation increased particularly sharply on Closing Day.
Q: What is the ESDS Software Solution IPO GMP after the issue closed?
A: The latest available GMP was around ₹250 per share on 1 September 2026, down from about ₹328 previously. GMP is an unofficial and unregulated indicator, and quotes may continue to change before listing.
Q: What listing price does the latest ESDS Software Solution IPO GMP indicate?
A: Adding the ₹250 GMP to the ₹429 upper price band gives an indicative price of ₹679 per share, or about 58.3% above the upper issue price. This is only a grey-market calculation and does not guarantee the actual listing price.
Q: Does the 140.84x Day 3 final subscription guarantee a premium listing?
A: No. A high subscription multiple reflects bid demand relative to shares available, but it does not guarantee a premium listing. GMP is also unofficial. Market conditions, valuation, investor sentiment, and other factors can affect the eventual listing price.
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