About ESDS Software Solution IPO
ESDS Software Solution Limited's initial public offering is a fresh issue of equity shares suming up to ₹720.00 crore, with no offer-for-sale component.
The issue opens on August 28, 2026, and closes on September 1, 2026, with a price band of ₹408 to ₹429 per equity share of face value ₹1. Anchor investor bidding is scheduled for August 27, 2026.
Proceeds from the fresh issue are intended for the company's own use as set out in the Objects of the Issue, primarily towards data centre and cloud computing infrastructure and general corporate purposes.
Business Overview of ESDS Software Solution
ESDS Software Solution Limited was originally incorporated as a private limited company on August 18, 2005, and was converted into a public limited company on July 8, 2021 (CIN: U72200MH2005PLC155433).
Its registered office is located at Plot No. B-24 & 25, NICE Area, MIDC, Satpur, Nashik – 422007, Maharashtra, with a corporate office in Thane, Maharashtra.
The company operates in the cloud computing and managed infrastructure-as-a-service (IaaS) space, offering cloud infrastructure, GPU-as-a-Service, managed IT services, disaster recovery, and SaaS applications through its proprietary "SWARAJ Cloud" platform, which includes AI-enabled autoscaling capabilities.
| Parameter | Detail |
|---|---|
| Incorporation | August 18, 2005 (converted to a public limited company on July 8, 2021) |
| Sector | Cloud computing / Infrastructure-as-a-Service, managed services, data centre infrastructure, SaaS |
| Operational data centres | 5 Tier-3 data centres in India (Nashik, Noida, Bengaluru, Mohali, Airoli) |
| Proposed data centres | 2 additional facilities proposed (Kolkata, Sahibabad) |
| Key platform | Proprietary "SWARAJ Cloud" platform with AI-enabled autoscaling |
ESDS Software Solution IPO Date, Price, and Other Details
Here are the details of the upcoming ESDS Software Solutions IPO:
| Detail | Value |
|---|---|
| IPO Opening Date | August 28, 2026 |
| IPO Closing Date | September 1, 2026 |
| Anchor Investor Bidding Date | August 27, 2026 |
| Price Band | ₹408 to ₹429 per equity share |
| Face Value | ₹1 per equity share |
| Lot Size | 34 shares |
| Minimum Retail Investment (1 lot, upper band) | ₹14,586 |
| Maximum Retail Investment (13 lots, upper band) | ₹1,89,618 |
| Issue Type | 100% fresh issue; no offer for sale |
| Fresh Issue Size | Up to ₹720.00 crore |
| Tentative Allotment Date | To be announced (post price-band finalisation) |
| Tentative Listing Date | To be announced (post price-band finalisation) |
| Listing Exchanges | BSE and NSE (NSE is the designated stock exchange) |
| Registrar | MUFG Intime India Private Limited |
| Lead Managers | DAM Capital Advisors Limited; Systematix Corporate Services Limited |
ESDS Software Solution IPO Reservation: Who Can Apply?
The ESDS Software Solution IPO has the following investor category reservation:
| 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 |
Strengths and Risks of ESDS Software Solution IPO
With every business owning its strengths and risks, even the ESDS Software Solution IPO has its potential plus points and downsides to be aware of.
Here is a brief business analysis (as per RHP) below:
Strengths
- Multi-city Tier-3 data centre network across five Indian cities, with two additional facilities proposed.
- Proprietary "SWARAJ Cloud" platform with AI-enabled autoscaling capabilities.
- Customer base diversified across BFSI, government/public sector, and enterprise segments.
- Total income, EBITDA, and profit after tax have each increased across FY2024, FY2025, and FY2026 as per the restated financial statements presented below.
- Total borrowings have declined across the same three-year period presented.
Risks
- A portion of revenue is linked, directly or indirectly, to government and public-sector entities, which exposes the business to public procurement cycles and payment timelines; the exact revenue-concentration percentage from government-linked customers is to be announced.
- The cloud infrastructure and data centre business requires continued capital expenditure to keep pace with technology change and capacity requirements.
- The company operates in a competitive environment alongside larger Indian and global cloud service providers.
- Exact top-customer and top-10-customer revenue concentration percentages are to be announced.
- Details of pending litigation, if any, are to be announced; investors are advised to refer to the Risk Factors section of the RHP.
Future Plans/Strategies
- Expansion of the data centre network with two additional proposed facilities at Kolkata and Sahibabad.
- Continued investment in cloud computing and GPU-as-a-Service infrastructure.
- Deployment of fresh issue proceeds as set out in the Objects of the Issue, including data centre and cloud computing equipment and general corporate purposes.
ESDS Software Solution IPO Objectives – How Will the Funds Be Used?
ESDS Software Solution will utilize the IPO proceeds for the following purposes:
| Objective | Amount |
|---|---|
| Purchase and installation of cloud computing equipment and data centre infrastructure | ₹576.00 crore |
| General corporate purposes | To be announced (balance of net proceeds; exact rupee figure not separately disclosed in sources reviewed) |
| Total Fresh Issue | ₹720.00 crore |
Promoter Shareholding of ESDS Software Solution IPO
The list of Promoters of ESDS Software Solution IPO include Piyush Prakashchandra Somani, Komal Piyush Somani, and P.O. Somani Family Trust.
| Particulars | Pre-Issue | Post-Issue |
|---|---|---|
| Promoter and Promoter Group Shareholding | 46.06% | 39.47% |
| Public Shareholding | 53.94% | 60.53% |
Financial Performance (₹ in crores) of ESDS Software Solution IPO
Here’s the table outlining the financial performance of ESDS Software Solution from FY 2024 to FY 2026.
| Particulars | FY2026 | FY2025 | FY2024 |
|---|---|---|---|
| Total Income | 480.65 | 376.64 | 292.14 |
| EBITDA | 234.23 | 154.89 | 101.88 |
| Profit After Tax | 120.82 | 55.61 | 13.61 |
| Net Worth | 528.81 | 405.55 | 206.36 |
| Total Borrowings | 42.92 | 62.71 | 149.04 |
| Total Assets | 1,937.90 | 655.95 | 547.71 |
Key Performance Metrics of ESDS Software Solution
Based on the financials available in the RHP, the following key performance metrics of ESDS Software Solution IPO can be considered.
| KPI | FY2025 | FY2026 |
|---|---|---|
| Return on Net Worth (RoNW) | 13.71% | 22.85% |
| Return on Capital Employed (RoCE) | 24.73% | 32.78% |
| EBITDA Margin | 42.86% | 49.60% |
| PAT Margin | 15.39% | 25.59% |
| Debt-to-Equity Ratio | 0.15 | 0.08 |
| Earnings Per Share (EPS), Basic (FY2026) | ₹12.03 (pre-issue) |
Registrar of ESDS Software Solution IPO
The Registrar of ESDS Software Solution IPO is MUFG Intime India Private Limited.
| Field | Detail |
|---|---|
| Name | MUFG Intime India Private Limited |
| Phone | +91 8108114949 |
| esdssoftware.ipo@in.mpms.mufg.com |
Lead Manager of ESDS Software Solution IPO
DAM Capital Advisors Limited and Systematix Corporate Services Limited are the Book Running Lead Managers to the IPO.
How To Apply for the ESDS Software Solution IPO?
- Log in to your internet banking, broker trading app, or the ASBA facility offered by your bank.
- Navigate to the IPO/ASBA section and select "ESDS Software Solution Limited IPO."
- Enter your PAN, Demat account details, and the number of lots you wish to bid for.
- Select your bid price within the price band of ₹408 to ₹429 per share, or choose "cut-off price" for retail applications.
- Confirm the application; the bid amount will be blocked in your bank account under ASBA until allotment.
- Retain the application/acknowledgement reference number for tracking allotment status.
