ESDS SOFTWARE SOLUTION LTD IPO: Company Review, Subscription and Allotment Updates
2026-08-27 — Company overview and issue details ESDS SOFTWARE SOLUTION LTD IPO (ABOUT THE COMPANY) ESDS SOFTWARE SOLUTION LTD – COMPANY BACKGROUND ESDS Software Solution Ltd was incorporated in 2005 and is engaged in the business of…
2026-08-27 — Company overview and issue details
ESDS SOFTWARE SOLUTION LTD IPO (ABOUT THE COMPANY)
ESDS SOFTWARE SOLUTION LTD – COMPANY BACKGROUND
ESDS Software Solution Ltd was incorporated in 2005 and is engaged in the business of AI-enabled cloud, managed services, and data centre solutions. It offers the entire service based on the infrastructure as a service (IAAS) model. Its customers are spread across BFSI, government, and enterprise segments. It has over 2,500 active customers availing its services. Its IAAS suite includes colocation and date centre services, public-private-hybrid cloud solutions, and disaster recovery. It also has a proprietary software to focus on data sovereignty and it also offers data centre management tools.
The promoters of ESDS Software Solution Ltd are Piyush Somani, Komal Somani, and P.O. Somani Family Trust. The IPO will be entirely a fresh issue of shares with no offer for sale (OFS) component. The fresh issue funds will be used for purchase and installation of cloud computing equipment and infrastructure for data centres. The issue is being lead-managed by DAM Capital Advisors, and Systematix Corporate Services; while MUFG Intime India Private Ltd is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF ESDS SOFTWARE SOLUTION LTD
Here are the key highlights of the public issue of ESDS Software Solution Ltd.
The IPO is open from August 28th, 2026 to September 01st, 2026. It has a face value of ₹1 per share and IPO price band has been fixed in the range of ₹408 to ₹429 per share.
The IPO of ESDS Software Solution Ltd will be purely a fresh issue of shares with no offer for sale of shares by the promoter or the investor shareholders.
The Fresh Issue portion of the IPO comprises the issue of 1,67,83,216 shares (167.83 lakh shares), which at the upper price band of ₹429 per share, translates into a fresh issue size of ₹720.00 crore.
Since there is no OFS, the overall IPO will also comprise of the fresh issue portion comprising of 1,67,83,216 shares (167.83 lakh shares), which at the upper price band of ₹429 per share translates into overall issue size of ₹720.00 crore.
Due to dilutive impact of the fresh issue and the offer for sale (OFS) by promoters, the promoter stake in the company will reduce from 46.06% pre-IPO to 39.47% post-IPO.
The IPO of ESDS Software Solution Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on August 27, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of ESDS Software Solution Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Friday, 28 August, 2026 |
| IPO Close Date | Tuesday, 1 September, 2026 |
| Basis of Allotment | Wednesday, 2 September, 2026 |
| Initiation of Refunds to non-allottees | Thursday, 3 September, 2026 |
| Credit of Shares to Demat | Thursday, 3 September, 2026 |
| Listing Date on NSE and BSE | Friday, 4 September, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | Nil Shares | Not Applicable |
| Anchor Allocation | 50,34,964 shares | 28.96% of total IPO size |
| QIB Shares Offered | 35,29,412 shares | 20.30% of total IPO size |
| NII (HNI) Shares Offered | 26,47,059 shares | 15.22% of total IPO size |
| Retail Shares Offered | 61,76,471 shares | 35.52% of total IPO size |
| Total Shares Offered | 1,73,87,906 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of ESDS Software Solution Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹ 14,586 |
| Retail (Max) | 13 | 442 | ₹ 1,89,618 |
| S-HNI (Min) | 14 | 476 | ₹ 2,04,204 |
| S-HNI (Max) | 68 | 2,312 | ₹ 9,91,848 |
| B-HNI (Min) | 69 | 2,346 | ₹ 10,06,434 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 34 shares)
FINANCIAL HIGHLIGHTS OF ESDS SOFTWARE SOLUTION LTD
The table captures the key financials of ESDS Software Solution Ltd for last 3 financial years.
| Particulars | FY26 | FY25 | FY24 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 472.21 | 361.34 | 286.52 |
| Sales Growth (%) | 30.68% | 26.11% | |
| Profit after Tax (₹ in crore) | 120.82 | 55.61 | 13.61 |
| PAT Margins (%) | 25.59% | 15.39% | 4.75% |
| Total Equity (₹ in crore) | 543.66 | 417.58 | 225.91 |
| Total Assets (₹ in crore) | 1,937.90 | 655.95 | 547.71 |
| Return on Equity (%) | 22.22% | 13.32% | 6.02% |
| Return on Assets (%) | 6.23% | 8.48% | 2.48% |
| Asset Turnover Ratio (X) | 0.24 | 0.55 | 0.52 |
| Earnings per share (₹) | 11.81 | 5.71 | 1.35 |
| EBITDA (₹ in Crore) | 234.23 | 154.89 | 101.88 |
| EBITDA Margins (%) | 49.60% | 42.86% | 35.56% |
Data Source: Company RHP filed with SEBI (FY refers to Apr-Mar period)
The company has seen a rapid expansion in its net profit margin which has grown five-fold in the last 2 years from 4.75% to 25.59%. EBITDA has also inched up over the last 2 years, although the ROA and the asset turnover are fairly low. That is more due to the sharp increase in current liabilities in the latest year.
VALUATION METRICS OF ESDS SOFTWARE SOLUTION LTD IPO
At the IPO price of ₹429 (upper band), the stock gets discounted at a P/E ratio of 36.3X, based on the latest FY26 EPS of ₹11.81. If one were to other similar companies in the cloud space, the valuations are not an issue, especially considering the growth that the company has achieved in the last 1 year. The concern will remain on the substantial increase in total assets in the latest year accounted for by a spike in current liabilities.
Apart from the financial numbers, there are also other areas where ESDS Software Solution Ltd has an edge. This is an underserved market and there just two players operating in this specific niche. It has a wide client base, which de-risks the model. However, before investing it is essential for investors to probe in greater detail into the substantial increase in the current liabilities in the latest year. That seems to be the only red flag, especially since they are taken as advances from customers!
2026-08-27 — Anchor allocation
ESDS SOFTWARE SOLUTION LTD IPO (ANCHOR ALLOCATION 28.96%)
BRIEF ON ANCHOR ALLOCATION OF ESDS SOFTWARE SOLUTION LTD
The anchor issue of ESDS Software Solution Ltd saw a strong response on 27th August 2026 with 28.96% of the IPO size absorbed by anchors. Out of 1,73,87,906 shares (173.88 lakh shares) on offer in the IPO; anchors picked up 50,34,964 shares (50.35 lakh shares) accounting for 28.96% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹429 per share. This includes the face value of ₹1 per share plus a share premium of ₹428 per share. The anchor bidding opened and closed on 27th August 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of ESDS Software Solution Ltd
| Bid Date | August 27, 2026 |
|---|---|
| Shares Offered | 50,34,964 shares |
| Anchor Portion Size (₹ in crore) | ₹216.00 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Oct 01, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Nov 30, 2026 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN ESDS SOFTWARE SOLUTION LTD
On 27th August 2026, ESDS Software Solution Ltd allotted 50,34,964 shares to a total of 19 anchor investors. The allocation was done at the upper IPO price band of ₹429 per share which resulted in overall anchor allocation of ₹216.00 crore. The anchors have already absorbed 28.96% of the total issue size of ₹745.94 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹183.00 crores, or, 84.72% of the overall anchor allocation of shares, one trading day ahead of the IPO of ESDS Software Solution Ltd. The individual anchor allocation of top-10 investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | Motilal Oswal Digital India Fund | 10,25,644 | 20.37% | ₹ 44.00 |
| 02 | Bandhan Focused Fund | 6,52,698 | 12.96% | ₹ 28.00 |
| 03 | QSIF Hybrid Long-Short Fund | 5,59,436 | 11.11% | ₹ 24.00 |
| 04 | QSIF Active Asset Allocator | 5,59,436 | 11.11% | ₹ 24.00 |
| 05 | Bandhan Small Cap Fund | 4,66,174 | 9.26% | ₹ 20.00 |
| 06 | Meru Investment Fund PCC - Cell I | 2,33,104 | 4.63% | ₹ 10.00 |
| 07 | Sanshi Fund - I | 2,33,070 | 4.63% | ₹ 10.00 |
| 08 | ITI Large & Mid-Cap Fund | 2,09,780 | 4.17% | ₹ 9.00 |
| 09 | JM Flexi Cap Fund | 1,86,490 | 3.70% | ₹ 8.00 |
| 10 | Cognizant Capital Dynamic Fund | 1,39,808 | 2.78% | ₹ 6.00 |
| Grand Total | 42,65,640 | 84.72% | ₹ 183.00 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 50,34,964 shares allocated to the anchors in the IPO, there was an allocation of 41,25,832 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 13 MF schemes of 6 asset management companies (AMC). Mutual funds accounted for 81.94% of the overall anchor allocation.
Out of the 50,34,964 shares allocated to the anchors in the IPO, there was no allocation of shares made to life insurance companies regulated by IRDAI. The remaining anchor allocation was spread across FPIs, SIFs, and alternate investment funds (AIFs).
NEXT STEPS IN ESDS SOFTWARE SOLUTION LTD IPO
Post the closure of the IPO subscription on 01st September 2026, the basis of allotment will be finalized on 02nd September 2026 and the refunds will be initiated on 03rd September 2026. In addition, the demat credits are expected to also happen on 03rd September 2026 and the stock will list on 04th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0DRI01029).
2026-09-01 — Day-3 subscription update
ESDS Software Solution Ltd (Day-3 Final Subscription at 135.88 times)
ESDS SOFTWARE SOLUTION LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.20 pm on 01st September 2026, out of the 123.53 lakh shares on offer in the IPO (excluding anchor portion), ESDS Software Solution Ltd saw bids for 16,785.63 lakh shares. This implies an overall subscription of 135.88X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of ESDS Software Solution Ltd was as under:
| Employees (N.A.) | QIBs (261.51X) | HNI / NII (192.94X) | Retail (39.64X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO. The company saw steady anchor participation a day ahead of the IPO opening with 28.96% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 50,34,964 | 50,34,964 | 216.00 |
| Employee Quota | N.A. | 0 | 0 | 0.00 |
| QIB Investors | 261.51 | 35,29,412 | 92,29,92,424 | 39,596.37 |
| HNIs / NIIs | 192.94 | 26,47,059 | 51,07,16,856 | 21,909.75 |
| Retail Investors | 39.64 | 61,76,471 | 24,48,54,060 | 10,504.24 |
| Total | 135.88 | 1,23,52,942 | 1,67,85,63,340 | 72,010.37 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of ESDS Software Solution Ltd was open up to September 01, 2026, and has closed for subscription as of the close of trading hours on September 01, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall. Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹72,226.37 crore.
NEXT STEPS IN THE ESDS SOFTWARE SOLUTION LTD IPO
Post the closure of the IPO subscription on 01st September 2026, the basis of allotment will be finalized on 02nd September 2026 and the refunds will be initiated on 03rd September 2026. In addition, the demat credits are expected to also happen on 03rd September 2026 and the stock will list on 04th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0DRI01029).
2026-09-01 — Allotment guidance and next steps
ESDS Software Solution Ltd IPO (How to check allotment status)
ABOUT THE ESDS SOFTWARE SOLUTION LTD IPO
The IPO of ESDS Software Solution Ltd opened on August 28th, 2026 and closed on September 01st, 2026. The overall IPO comprised entirely of a fresh issue with no offer for sale (OFS) portion. The IPO comprised of 1,73,87,906 shares (173.88 lakh shares) worth ₹745.94 crore at the upper price band of ₹429 per share. The allotment status will be finalized by end of day (EOD) of September 02, 2026. Here is how to check your allotment status for the IPO of ESDS Software Solution Ltd. You can check IPO status on the BSE website or on NSE website or on the IPO Registrar website (MUFG Intime India Private Ltd).
CHECKING THE ALLOTMENT STATUS OF ESDS SOFTWARE SOLUTION LTD IPO ON BSE WEBSITE
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select ESDS Software Solution Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip OR
Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to click on the Captcha to verify you are not a robot
Finally click on the Search Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of ESDS Software Solution Ltd allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ESDS SOFTWARE SOLUTION LTD IPO ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Details Option
Under SELECT SYMBOL – Select ESDS from the dropdown box
Enter the Application Number / CAF exactly as in the acknowledgement slip AND
Enter your PAN (10-digit alphanumeric) number
Once both are entered, click on the Submit Button
You must input the Application / CAF number and the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of ESDS Software Solution Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF ESDS SOFTWARE SOLUTION LTD ON MUFG INTIME INDIA PRIVATE LIMITED (REGISTRAR TO THE IPO)
Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:
https://in.mpms.mufg.com/Initial_Offer/public-issues.html
There are 4 options available to you to access the allotment status, and you can use any of these options to query.
You can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). Make it a point to verify your PAN before entering.
The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.
You can use DPID-Client ID combination. For NSDL combination is alphanumeric, while for CDSL, combination is numeric. This is available in your demat statement.
You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. It is available on your cheque book.
Finally, click on the SUBMIT button.
In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to ipo.helpdesk@in.mpms.mufg.com or you can call on (0)-81081-14949 for voice call.
NEXT STEPS IN THE ESDS SOFTWARE SOLUTION LTD IPO
Post the closure of the IPO subscription on 01st September 2026, the basis of allotment will be finalized on 02nd September 2026 and the refunds will be initiated on 03rd September 2026. In addition, the demat credits are expected to also happen on 03rd September 2026 and the stock will list on 04th September 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 04th September 2026 under ISIN (INE0DRI01029).
Interested in applying for this IPO?
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