ESDS Software Solution IPO is a Mainboard Book Built public issue by ESDS Software Solution Limited. The public issue comprises entirely of a fresh issue of equity shares and does not include an Offer for Sale component. The company’s equity shares are proposed to be listed on both BSE and NSE. The company has filed its Red Herring Prospectus dated 24 August 2026, and the IPO price band has been fixed at ₹408 to ₹429 per equity share.
ESDS Software IPO opens for subscription on 28 August 2026 and closes on 1 September 2026. Investors can bid for a minimum of 34 equity shares and in multiples of 34 shares thereafter. The total issue size is ₹720 crore, consisting of up to 1,67,83,216 equity shares offered through a fresh issue.
ESDS Software Solution Limited is an AI-enabled provider of cloud, managed services, data centre infrastructure and software solutions. The company offers infrastructure as a service, managed services and software as a service to customers across banking, financial services and insurance, government, public sector and enterprise markets.
The company provides cloud infrastructure, colocation and data centre services, cloud computing, managed IT services, cybersecurity, backup and disaster recovery solutions, and proprietary software platforms. ESDS also provides GPU-as-a-Service and AI infrastructure solutions. In Fiscal 2026, the company served 2,501 customers.
ESDS operates five Tier-III data centres across India and has built its business around cloud infrastructure and digital transformation requirements. The company states that it has more than two decades of experience in building and managing IT infrastructure.
The IPO proceeds are primarily intended for the purchase and installation of cloud computing equipment and other infrastructure for data centres, along with general corporate purposes. Investors should carefully evaluate the company’s financial performance, capital expenditure requirements, competitive position, technology risks, customer concentration and valuation before making an investment decision.
IPO Details
| Information | Details |
|---|---|
| IPO Name | ESDS Software Solution IPO |
| Company Name | ESDS Software Solution Limited |
| IPO Type | Book Built Issue |
| IPO Category | Mainboard IPO |
| Face Value | ₹1 Per Equity Share |
| Price Band | ₹408 to ₹429 Per Share |
| Issue Size | ₹720 Crore |
| Fresh Issue | ₹720 Crore |
| Offer for Sale | Nil |
| Fresh Issue Shares | 1,67,83,216 Equity Shares |
| IPO Open Date | 28 August 2026 |
| IPO Close Date | 1 September 2026 |
| Anchor Investor Bidding | 27 August 2026 |
| Basis of Allotment | 2 September 2026 |
| Refund Initiation | 3 September 2026 |
| Shares Credited to Demat Account | 3 September 2026 |
| Listing Date | 4 September 2026 |
| Listing Exchange | BSE & NSE |
| Lot Size | 34 Equity Shares |
| Registrar | MUFG Intime India Private Limited |
| Book Running Lead Managers | DAM Capital Advisors Limited and Systematix Corporate Services Limited |
The IPO consists entirely of a fresh issue. At the upper price band of ₹429 per share, the total issue size is ₹720 crore. The company’s equity shares are proposed to be listed on BSE and NSE.
ESDS Software IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 27 August 2026 |
| IPO Opening Date | 28 August 2026 |
| IPO Closing Date | 1 September 2026 |
| Basis of Allotment | 2 September 2026 |
| Refund Initiation | 3 September 2026 |
| Shares Credited to Demat Account | 3 September 2026 |
| Listing Date | 4 September 2026 |
The IPO schedule provides for anchor investor bidding on 27 August, public subscription from 28 August to 1 September, allotment on 2 September, refund and demat credit on 3 September and proposed listing on 4 September 2026.
ESDS Software IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The issue structure provides for up to 50% of the net issue for QIBs, at least 15% for NIIs and at least 35% for retail investors.
ESDS Software IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 34 Shares | ₹14,586 |
| Retail Maximum | 13 Lots | 442 Shares | ₹1,89,618 |
| S-HNI Minimum | 15 Lots | 510 Shares | ₹2,18,790 |
| S-HNI Maximum | 23 Lots | 782 Shares | ₹3,35,478 |
| B-HNI Minimum | 24 Lots | 816 Shares | ₹3,50,064 |
The application amounts above are calculated using the upper price band of ₹429 per equity share. The minimum bid is 34 shares and bids can be made in multiples of 34 shares.
About ESDS Software Solution Limited
ESDS Software Solution Limited was incorporated in 2005 and has developed into an AI-enabled provider of cloud, data centre, managed services and software solutions.
The company provides an end-to-end technology portfolio covering infrastructure as a service, managed services and software as a service. Its infrastructure services include data centre and colocation services, cloud services, cloud computing and GPU-as-a-Service.
ESDS serves customers across BFSI, government, public sector and enterprise segments. Its technology solutions are used across industries including banking, public services, manufacturing, healthcare, retail, energy and logistics. The company served 2,501 customers in Fiscal 2026.
The company operates five Tier-III data centres in India, located in Nashik and Navi Mumbai in Maharashtra, Bengaluru in Karnataka, Mohali in Punjab and Noida in Uttar Pradesh.
ESDS also provides AI infrastructure and GPU-related cloud services. The company entered into a strategic AI cloud infrastructure agreement with an Australia-based neocloud AI compute service provider in March 2026. The agreement has an initial five-year term with an option for a further two years and a stated total contract value of approximately US$1.25 billion.
Business Operations
ESDS Software Solution Limited operates across several technology and infrastructure segments.
- Cloud Infrastructure – The company provides public, private, virtual private, hybrid and community cloud solutions.
- Data Centre Services – ESDS operates Tier-III data centres and provides infrastructure, hosting and colocation services.
- GPU-as-a-Service – The company provides GPU infrastructure for AI and high-performance computing requirements.
- Managed Services – It provides cloud and data centre management, IT infrastructure management and network management.
- Software as a Service – The company develops and provides software solutions that support digital transformation.
- Cybersecurity Services – Its managed services portfolio includes cybersecurity and security-related technology solutions.
- Backup and Disaster Recovery – ESDS provides backup, recovery and business continuity solutions.
- Community Cloud – The company offers community cloud infrastructure for organisations with similar privacy, security, compliance and regulatory requirements.
- AI Infrastructure – ESDS is expanding its capabilities in AI computing and high-performance infrastructure.
- Government and Public Sector Solutions – The company serves government departments, PSUs and other public-sector organisations.
- BFSI Solutions – ESDS provides cloud and technology infrastructure services to banking, financial services and insurance customers.
- Enterprise Solutions – Businesses across multiple industries use ESDS infrastructure and managed technology services.
The company’s integrated business model allows it to combine infrastructure, cloud, managed services and software solutions for customers requiring digital transformation and technology infrastructure.
Industry Overview
India’s cloud computing and data centre industry continues to benefit from increasing digitalisation, migration of enterprise workloads to cloud environments, data localisation requirements, artificial intelligence adoption and growing demand for secure digital infrastructure.
The expansion of AI applications is also increasing demand for high-performance computing, GPUs, data storage and specialised cloud infrastructure.
Data centre operators and cloud service providers can benefit from increasing requirements from BFSI, government, healthcare, manufacturing, retail and other industries.
However, the industry is capital intensive. Data centres require substantial investment in servers, networking equipment, power infrastructure, cooling systems, security and technology upgrades. Rapid technological changes also require continuous investment to remain competitive.
Business Strategy
ESDS Software Solution focuses on expanding its cloud, data centre, managed services and AI infrastructure capabilities.
The company plans to use a significant portion of the IPO proceeds to purchase and install cloud computing equipment and other infrastructure for its data centres. This investment is intended to increase its infrastructure capabilities and support future customer requirements.
The company is also expanding its AI infrastructure capabilities through GPU-based computing and strategic partnerships. The Australia-related AI infrastructure agreement is expected to support the company’s expansion into high-performance AI computing services.
ESDS also aims to strengthen its proprietary technology platforms and continue serving government, BFSI and enterprise customers through an integrated technology infrastructure model.
ESDS Software IPO Financial Information
The company has reported significant improvement in revenue and profitability during the last three financial years. Total income increased from ₹292.14 crore in FY2024 to ₹376.64 crore in FY2025 and ₹480.65 crore in FY2026.
Profit After Tax increased from ₹13.61 crore in FY2024 to ₹55.61 crore in FY2025 and ₹120.82 crore in FY2026. Total borrowings also declined during the period.
ESDS Software Solution Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Total Income | ₹292.14 Crore | ₹376.64 Crore | ₹480.65 Crore |
| EBITDA | ₹101.88 Crore | ₹154.89 Crore | ₹234.23 Crore |
| Profit After Tax (PAT) | ₹13.61 Crore | ₹55.61 Crore | ₹120.82 Crore |
| Total Assets | ₹547.71 Crore | ₹655.95 Crore | ₹1,937.90 Crore |
| Net Worth | ₹206.36 Crore | ₹405.55 Crore | ₹528.81 Crore |
| Total Borrowings | ₹149.04 Crore | ₹62.71 Crore | ₹42.92 Crore |
The financial performance shows strong growth in both revenue and profitability. FY2026 PAT more than doubled compared with FY2025, while borrowings declined substantially from FY2024 levels. The increase in total assets during FY2026 also reflects significant expansion of the company’s asset base.
ESDS Software IPO Key Performance Indicators (KPIs)
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 25.12% |
| Return on Capital Employed (ROCE) | 32.78% |
| Return on Net Worth (RONW) | 22.85% |
| EBITDA Margin | 49.60% |
| PAT Margin | 25.59% |
| Debt-to-Equity Ratio | 0.08 |
| Earnings Per Share (EPS) | ₹12.03 |
| Net Asset Value (NAV) Per Share | ₹52.66 |
| Price to Earnings (P/E) | 41.61x |
The FY2026 financial indicators show strong profitability and improved capital efficiency. The company reported an EBITDA margin of 49.60%, PAT margin of 25.59%, ROE of 25.12% and ROCE of 32.78%. Its debt-to-equity ratio stood at 0.08.
The P/E of approximately 41.61x is based on the post-issue valuation at the upper price band and FY2026 earnings. Investors should evaluate this valuation against the company’s growth rate, profitability, business risks and comparable listed companies.
Objects of the ESDS Software IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Purchase and installation of cloud computing equipment.
- Purchase and installation of other equipment and infrastructure for the company’s data centres.
- Expansion and strengthening of data centre infrastructure.
- General corporate purposes.
The company has earmarked approximately ₹576 crore of the IPO proceeds for the purchase and installation of cloud computing and other equipment and infrastructure for its data centres.
The remaining proceeds will be used for general corporate purposes in accordance with the applicable issue documents.
ESDS Software IPO Listing Performance
ESDS Software shares are proposed to be listed on BSE and NSE.
| Particular | Value |
|---|---|
| Listing Exchange | BSE & NSE |
| Listing Date | 4 September 2026 |
| Issue Price | ₹408 to ₹429 Per Share |
| Listing Price | |
| Listing Gain | |
| Listing Gain (%) |
The listing price and listing gain are left blank because the company has not yet listed. These figures should be updated only after trading begins.
ESDS Software IPO Subscription Status
ESDS Software IPO will open for subscription on 28 August 2026 and close on 1 September 2026.
ESDS Software IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | |
| Non-Institutional Investors (NII) | |
| Retail Individual Investors (RII) | |
| Employee Category | |
| Total Subscription |
Subscription figures are not available before the IPO opens for bidding and are therefore left blank.
ESDS Software IPO GMP
ESDS Software IPO GMP refers to the unofficial premium at which the shares may trade in the grey market before listing.
| Particular | Value |
|---|---|
| ESDS Software IPO GMP | |
| IPO Price Band | ₹408 to ₹429 |
| Expected Listing Price | |
| GMP Percentage |
The GMP figure is intentionally left blank because grey-market premiums are unofficial, unregulated and subject to frequent changes. They should not be presented as guaranteed listing gains.
ESDS Software IPO Review
ESDS Software Solution Limited operates in the growing cloud infrastructure, data centre, managed services and AI technology sector.
The company has an integrated technology portfolio covering cloud infrastructure, data centre services, managed services and SaaS solutions. Its customer base includes BFSI institutions, government organisations, public sector entities and enterprises.
One of the company’s key strengths is its presence across multiple technology segments. Rather than focusing solely on cloud hosting, ESDS combines data centre infrastructure, cloud computing, managed services, software and AI infrastructure.
The company has also reported strong financial improvement. Total income increased from ₹292.14 crore in FY2024 to ₹480.65 crore in FY2026, while PAT increased from ₹13.61 crore to ₹120.82 crore over the same period. Borrowings declined from ₹149.04 crore to ₹42.92 crore.
The proposed use of IPO proceeds is another important factor. A large portion of the funds will be invested in cloud computing equipment and data centre infrastructure. This can support future capacity expansion, but it also means the business remains capital intensive.
ESDS is also expanding into AI infrastructure and GPU-based computing. The strategic agreement with an Australian neocloud AI compute provider could provide a significant opportunity if the planned infrastructure is deployed successfully and revenue generation develops as expected.
However, the company operates in a highly competitive technology industry. Large domestic and international cloud and technology providers have substantial financial and technological resources.
Data centre operations also involve risks related to power availability, infrastructure costs, cybersecurity, technology upgrades, equipment utilisation and customer demand.
At the upper price band of ₹429, the company is being valued at a relatively high earnings multiple based on FY2026 earnings. Investors should therefore consider whether the company’s future growth prospects justify the IPO valuation.
Overall, ESDS Software Solution has demonstrated strong recent financial growth and operates in attractive technology segments. Investors should carefully evaluate its valuation, capital expenditure requirements, competition, customer concentration, technology risks and execution capabilities before making an investment decision.
ESDS Software IPO Strengths
- Integrated cloud, data centre, managed services and software business.
- Strong revenue and profitability growth in recent financial years.
- Significant improvement in FY2026 PAT.
- Low debt-to-equity ratio.
- Five Tier-III data centres across India.
- Exposure to cloud computing and artificial intelligence.
- GPU-as-a-Service and AI infrastructure capabilities.
- Diverse customer base across BFSI, government and enterprise sectors.
- More than two decades of experience in IT infrastructure.
- Proposed investment in data centre and cloud infrastructure.
- Strategic opportunity in AI infrastructure through international business.
ESDS Software IPO Risk Factors
- Data centre and cloud infrastructure businesses are capital intensive.
- Continuous technology investment is required to remain competitive.
- The company operates in a highly competitive cloud and IT services market.
- Cybersecurity and data privacy incidents could adversely affect operations and reputation.
- Power, cooling and infrastructure costs can affect operating expenses.
- Dependence on technology infrastructure creates operational continuity risks.
- Customer concentration may affect revenue if major customers reduce their spending.
- AI and GPU infrastructure investments involve execution and utilisation risks.
- Expansion projects may face delays or cost overruns.
- International projects expose the company to overseas business and regulatory risks.
- Rapid technological changes could make existing infrastructure less competitive.
- The IPO valuation requires continued growth in earnings to support the price.
ESDS Software IPO Promoters
The promoters of ESDS Software Solution Limited are Piyush Prakashchandra Somani, Komal Piyush Somani and P.O. Somani Family Trust.
The promoter group has been associated with the development and management of ESDS since its early stages. The company was incorporated in 2005 and has subsequently expanded its operations across cloud infrastructure, data centres, managed services and software solutions.
ESDS Software IPO Promoters Details
| Promoter | Designation |
|---|---|
| Piyush Prakashchandra Somani | Promoter |
| Komal Piyush Somani | Promoter |
| P.O. Somani Family Trust | Promoter |
ESDS Software IPO Management Team
The company is led by a management team with experience in technology infrastructure, business operations and corporate management.
| Name | Designation |
|---|---|
| Piyush Prakashchandra Somani | Managing Director & Chairman |
| Komal Piyush Somani | Whole-time Director |
| Jitendra Pathak | Additional Director (Executive) |
| Thandankorai Ganapathy Dhandapani | Independent Director |
| Pamela Kumar | Independent Director |
| Venkatesh Natarajan | Independent Director |
| Prasad Deochand Deokar | Company Secretary & Compliance Officer |
The board composition and management details are based on the company’s offer-document disclosures.
ESDS Software IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting shares to successful applicants and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | MUFG Intime India Private Limited |
| Website | |
| IPO Allotment Status | |
| Email ID | |
| Contact Number |
ESDS Software IPO Lead Manager Details
The Book Running Lead Managers are responsible for managing the public issue process and coordinating various activities associated with the IPO.
| Particular | Details |
|---|---|
| Lead Managers | DAM Capital Advisors Limited and Systematix Corporate Services Limited |
| Contact Details | |
| Email ID | |
| Contact Number |
DAM Capital Advisors Limited and Systematix Corporate Services Limited have been appointed as the Book Running Lead Managers to the issue.
ESDS Software Solution Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | ESDS Software Solution Limited |
| Registered Office | Plot No. B-24 & 25, NICE Area, MIDC, Satpur, Nashik – 422 007, Maharashtra, India |
| Website | www.esds.co.in |
| Email ID | [email protected] |
| Contact Number | +91 253 711 2244 |
The company’s registered office and investor contact information are provided through its corporate disclosures.
How to Check ESDS Software IPO Allotment Status
Investors can check the ESDS Software IPO Allotment Status after the basis of allotment has been finalised.
Through MUFG Intime India Private Limited
- Visit the official MUFG Intime IPO allotment facility.
- Select ESDS Software Solution IPO from the IPO list.
- Choose PAN Number, Application Number or DP/Client ID.
- Enter the required details.
- Submit the information to view the allotment status.
Through BSE
- Visit the official BSE IPO application status facility.
- Select the relevant IPO.
- Enter the required PAN or application details.
- Complete the verification process if required.
- Submit the details to view the allotment result.
The scheduled basis of allotment date is 2 September 2026, followed by refund initiation and demat credit on 3 September 2026. The proposed listing date is 4 September 2026.
ESDS Software IPO Conclusion
ESDS Software IPO provides investors with an opportunity to invest in an established Indian technology infrastructure company operating across cloud computing, data centres, managed services, SaaS and AI infrastructure.
The company has demonstrated strong recent financial growth, with total income increasing to ₹480.65 crore and PAT reaching ₹120.82 crore in FY2026. Borrowings have also declined significantly compared with FY2024.
Its integrated technology portfolio, Tier-III data centre network, exposure to government and BFSI customers, and growing AI infrastructure business provide potential long-term growth opportunities.
The IPO proceeds will largely be invested in cloud computing equipment and data centre infrastructure, which can support additional capacity and future business growth.
At the same time, investors should consider the capital-intensive nature of the industry, intense competition, cybersecurity risks, technology changes, customer concentration and the valuation implied by the IPO price band.
A detailed assessment of ESDS Software Solution’s financial performance, business strategy, industry outlook, valuation and risk factors can help investors determine whether the IPO is suitable for their investment objectives.
ESDS Software IPO FAQs
What is ESDS Software IPO?
ESDS Software IPO is a Mainboard Book Built public issue of ESDS Software Solution Limited, an AI-enabled provider of cloud, managed services, data centre infrastructure and software solutions.
What is the ESDS Software IPO Price?
The ESDS Software IPO Price Band is ₹408 to ₹429 per equity share.
What is the issue size of ESDS Software IPO?
The total issue size is ₹720 crore and consists entirely of a fresh issue of up to 1,67,83,216 equity shares.
What is the ESDS Software IPO Lot Size?
The ESDS Software IPO Lot Size is 34 equity shares. At the upper price band of ₹429, the minimum retail application amount is ₹14,586.
When will ESDS Software IPO open?
ESDS Software IPO will open for subscription on 28 August 2026.
When will ESDS Software IPO close?
ESDS Software IPO will close on 1 September 2026.
What is the ESDS Software IPO GMP?
The ESDS Software IPO GMP has been left blank because GMP is an unofficial grey-market indicator and can change frequently.
When is the ESDS Software IPO Allotment?
ESDS Software IPO Allotment is scheduled for 2 September 2026.
Who is the registrar for ESDS Software IPO?
MUFG Intime India Private Limited is the registrar to the ESDS Software IPO.
When will ESDS Software shares be listed?
ESDS Software shares are proposed to be listed on BSE and NSE on 4 September 2026.
