[Update] ESDS Shares End Market Debut 112% Above Issue Price On NSE

Update | September 4, 16:40 IST

Shares of enterprise cloud and AI company ESDS Software Solution closed their maiden trading session at ₹908.4 on the NSE, 111.7% above the issue price of ₹429.  On the BSE, the stock ended at ₹895.5, up 108.7% from the issue price. 

The stock hit the 20% upper circuit soon after listing and remained locked at that level for the rest of the session. 

The company’s market capitalisation stood at ₹10,647 Cr (about $1.1 Bn) at the end of the session.

Original | September 4, 10:00 IST 

Enterprise cloud and AI company ESDS Software Solution made a bumper stock market debut today, with its shares listing at ₹757 on the NSE, a premium of 76.5% over the issue price of ₹429.

On the BSE, the stock listed at ₹746.30, marking a gain of nearly 74% over the issue price. The listing price gave ESDS a market capitalisation of ₹8,747.5 Cr (about $925.6 Mn) on the BSE. 

ESDS had set a price band of ₹408 to ₹429 per share for the public issue, seeking a valuation of about ₹5,028 Cr (about $527 Mn). The company’s ₹720 Cr IPO comprised entirely a fresh issue of shares. 

The IPO was fully subscribed within hours on the first day of bidding, and was subscribed 135.88X by the end of the third and final day of bidding. QIBs oversubscribed their quota by 261.51X. 

Ahead of the IPO, ESDS raised ₹216 Cr from anchor investors by allotting 50.3 Lakh shares to 19 entities at ₹429 apiece. The anchor investors included Motilal Oswal Mutual Fund, Bandhan Mutual Fund, Quant Mutual Fund, ITI Mutual Fund, and JM Flexicap Fund, among others.

Founded in 2005, Nashik-based ESDS provides cloud computing, data centre, managed services, and AI-led digital solutions to government and enterprise customers.

ESDS plans to deploy ₹576 Cr from the net proceeds towards purchasing and installing cloud computing equipment and other infrastructure at its existing data centres in Airoli, Bengaluru, Mohali, and Nashik. A portion of the proceeds will be used for general corporate purposes.

This is ESDS’ second attempt to go public. It first filed its IPO papers in September 2021 but did not proceed with the issue. The company refiled its papers in March 2025.

On the financial front, ESDS reported a consolidated net profit of ₹120.8 Cr in FY26, more than double the ₹55.6 Cr it posted in the previous fiscal year. Its operating revenue rose 30.7% to ₹472.2 Cr from ₹361.3 Cr in FY25.

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