ESDS Software Solution IPO: Price Band, Dates, Details
ESDS Software Solution IPO will open for subscription on August 28, 2026, with a price band of ₹408 to ₹429 per share. The ₹720 crore mainboard IPO is entirely a fresh issue, with no offer-for-sale component. Bidding closes on September 1, and the shares are proposed to list on BSE and NSE on September 4.
Investors can apply for a minimum of 34 shares, which translates to an investment of ₹14,586 for one lot at the upper end of the price band. Here is a closer look at the ESDS Software Solution IPO price band, issue size, dates, company financials and planned use of the funds.
ESDS Software Solution IPO Details at a Glance
| Particular | Details |
|---|---|
| IPO opening date | August 28, 2026 |
| IPO closing date | September 1, 2026 |
| Price band | ₹408 to ₹429 per share |
| Issue size | ₹720 crore |
| Issue type | Entirely fresh issue |
| Face value | ₹1 per share |
| Lot size | 34 shares |
| Minimum retail investment | ₹14,586 at ₹429 per share |
| Anchor investor date | August 27, 2026 |
| Expected allotment | September 2, 2026 |
| Expected listing date | September 4, 2026 |
| Listing exchanges | BSE and NSE |
| Registrar | MUFG Intime India |
| Book-running lead managers | DAM Capital Advisors and Systematix Corporate Services |
The ₹720 crore offer comprises approximately 1.68 crore fresh equity shares. Since there is no OFS, the proceeds from the issue will go to the company rather than existing shareholders selling their stakes.
What Is the ESDS Software Solution IPO Price Band?
The ESDS Software Solution IPO price band is ₹408 to ₹429 per equity share, with each share carrying a face value of ₹1.
At the upper price of ₹429, the IPO values ESDS Software Solution at a market capitalisation of approximately ₹5,028 crore.
Investors need to bid for at least 34 shares and can increase their application in multiples of 34 shares.
How much does one ESDS Software IPO lot cost?
The minimum investment depends on the bid price.
At the upper end of ₹429:
34 shares × ₹429 = ₹14,586
This makes ₹14,586 the minimum amount required for a retail application if bidding at the upper end of the price band.
What Is the ESDS Software Solution IPO Issue Size?
ESDS Software Solution plans to raise ₹720 crore through the IPO. The offer is entirely a fresh issue and does not contain an offer-for-sale component.
The issue size has increased from the ₹600 crore fresh issue originally proposed when the company filed its DRHP in March 2025. SEBI subsequently approved the draft offer documents in December 2025.
How is the IPO divided among investors?
The offer allocation is structured as follows:
- Qualified Institutional Buyers (QIBs): 50%
- Non-Institutional Investors (NIIs): 15%
- Retail Individual Investors (RIIs): 35%
ESDS Software Solution IPO Important Dates
The public issue opens on Friday, August 28 and remains available for bidding until Tuesday, September 1.
| IPO event | Date |
| Anchor investor bidding | August 27, 2026 |
| IPO opens | August 28, 2026 |
| IPO closes | September 1, 2026 |
| Expected allotment | September 2, 2026 |
| Refunds and demat credit | September 3, 2026 |
| Expected listing | September 4, 2026 |
The shares are proposed to list on both the BSE and NSE.
IPO timelines can change, so investors should check the final exchange or registrar updates around allotment and listing.
What Does ESDS Software Solution Do?
Founded in 2005, ESDS Software Solution operates in India’s cloud computing, data centre and enterprise technology market.
Its offerings span:
- Cloud services
- GPU-as-a-Service (GPUaaS)
- Managed services
- Data centre infrastructure
- Enterprise software solutions
- AI-related cloud infrastructure
The company says it is one of two players in India providing the complete spectrum of GPUaaS, cloud, managed services, data centre infrastructure and software solutions.
ESDS currently operates data centres in Airoli, Bengaluru, Nashik, Noida and Mohali. It is also working on proposed data centres in Kolkata and Sahibabad.
During FY2026, the company served more than 2,500 customers, including clients across banking and financial services, government and public sector organisations, and other enterprises.
How Will ESDS Use the IPO Proceeds?
One of the more important points for investors is that the IPO is a fresh issue. That means the capital raised is intended to strengthen the company’s balance sheet and fund its business requirements rather than provide an exit to existing shareholders.
ESDS plans to deploy ₹576 crore of the net proceeds toward purchasing and installing cloud computing equipment and other infrastructure for its data centres during FY2027 and FY2028.
The remaining net proceeds are intended for general corporate purposes.
This capital expenditure is particularly relevant because cloud and AI infrastructure businesses can require significant upfront investment in computing hardware, data centre capacity and supporting infrastructure.
How Has ESDS Software Solution Performed Financially?
ESDS reported a significant increase in both revenue and profit in FY2026.
| Financial metric | FY2025 | FY2026 | Change |
| Revenue from operations | ₹361.3 crore | ₹472.2 crore | Up 30.7% |
| Net profit | ₹55.6 crore | ₹120.8 crore | More than doubled |
Revenue from operations increased by about 30.7% in FY2026, while profit rose from ₹55.6 crore to ₹120.8 crore.
The improvement in profit is notable, but IPO investors should look beyond one year’s growth. Margins, cash flows, customer concentration, capital expenditure requirements and the sustainability of earnings growth also matter when assessing the business.
What Is the Valuation of the ESDS Software Solution IPO?
At ₹429 per share, ESDS Software Solution is valued at approximately ₹5,028.3 crore.
Based on FY2026 numbers, the company’s price-to-earnings ratio is around 36.33 times at the upper price band and 34.55 times at the lower end. Its FY2026 EV/EBITDA multiple is reported at around 16.30 times at ₹429 and 15.40 times at ₹408.
Valuation multiples should not be viewed in isolation. Investors need to consider ESDS’s growth rate, profitability, competitive position, capital requirements and comparable listed businesses before deciding whether the IPO valuation looks reasonable.
What Could Drive ESDS Software Solution’s Growth?
The expansion of AI computing, cloud adoption and data localisation requirements could create opportunities for Indian cloud and data centre operators.
ESDS also entered into a strategic AI cloud infrastructure agreement in March 2026 with an Australia-based neocloud AI compute services provider. The agreement has an initial five-year term, with an option for a two-year extension, and an aggregate total contract value of US$1.25 billion. Revenue under the agreement is expected to begin in the third quarter of FY2027.
The scale of the agreement makes execution important. Investors may want to track how quickly the contract converts into recognised revenue, its effect on margins and the capital required to support the additional computing capacity.
Who Are the Key Shareholders in ESDS?
Before the IPO, promoters including Piyush Prakashchandra Somani collectively hold 46.06% of the company, while public shareholders account for 52.65%.
Some well-known market investors are also shareholders:
- Mukul Mahavir Agrawal: 6.99%
- Ashish Kacholia: 2.39%
- Anchorage Capital Fund: 1.32%
The presence of established investors can attract attention to an IPO, but it should not substitute for evaluating the company’s financials, valuation and risks independently.
What Should Investors Check Before Applying?
Before applying for the ESDS Software Solution IPO, investors should examine the RHP, particularly the risk factors, financial statements and details of how the fresh capital will be deployed. SEBI published the company’s RHP and abridged prospectus on August 25, 2026.
Key areas worth assessing include:
- Valuation: Compare the ₹408 to ₹429 price band with earnings, cash flow and relevant listed peers.
- Capital expenditure: Data centres and AI computing infrastructure can require substantial ongoing investment.
- Growth execution: Check whether ESDS can convert capacity expansion and large contracts into sustainable revenue and profits.
- Customer profile: Understand customer concentration and dependence on large enterprise or government clients.
- Industry competition: Cloud infrastructure is a competitive market involving domestic operators as well as large global technology companies.
- IPO proceeds: Since this is a 100% fresh issue, monitor whether the planned ₹576 crore infrastructure investment generates adequate returns.
Investors should base their decision on the company’s offer documents and their own risk tolerance rather than subscription figures or unofficial grey market premiums alone.
FAQs About ESDS Software Solution IPO
Q. When will the ESDS Software Solution IPO open?
The ESDS Software Solution IPO will open for public subscription on August 28, 2026, and close on September 1, 2026. Anchor investor bidding is scheduled for August 27.
Q. What is the ESDS Software Solution IPO price band?
The IPO price band has been fixed at ₹408 to ₹429 per equity share. Each equity share has a face value of ₹1.
Q. What is the ESDS Software Solution IPO lot size?
The minimum lot size is 34 shares. Investors can apply for additional shares in multiples of 34.
Q. What is the minimum investment in the ESDS IPO?
At the upper price band of ₹429, one lot of 34 shares costs ₹14,586.
Q. What is the ESDS Software Solution IPO issue size?
The IPO aims to raise ₹720 crore and consists entirely of a fresh issue of shares. There is no offer-for-sale component.
Q. When will ESDS Software Solution shares list?
Subject to the IPO schedule remaining unchanged, ESDS Software Solution shares are expected to list on the BSE and NSE on September 4, 2026.
Q. How will ESDS use the IPO money?
The company intends to use ₹576 crore of the net proceeds to purchase and install cloud computing equipment and other data centre infrastructure. The balance will be used for general corporate purposes.
Q. Is the ESDS Software Solution IPO an OFS?
No. The ₹720 crore IPO is an entirely fresh issue, so there is no offer-for-sale by existing shareholders.
Key Takeaways
- ESDS Software Solution IPO opens on August 28, 2026 and closes on September 1.
- The price band is ₹408 to ₹429 per share.
- The company plans to raise ₹720 crore through an entirely fresh issue.
- The minimum application size is 34 shares, costing ₹14,586 at the upper price band.
- ESDS plans to spend ₹576 crore of the net proceeds on cloud computing equipment and data centre infrastructure.
- FY2026 revenue from operations stood at about ₹472.2 crore, while net profit reached approximately ₹120.8 crore.
- The shares are expected to list on BSE and NSE on September 4, 2026.
- Investors should assess the RHP, valuation, execution risks and capital requirements before making an investment decision.
Disclaimer: This article is for informational and educational purposes only and should not be considered investment advice. IPO investments are subject to market risks. Investors should review the offer documents and consult a SEBI-registered investment adviser where appropriate before investing.
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