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ESDS Software

MAINBOARD Listed 🌐 Visit Website
ESDS Software Solution is an AI-enabled end-to-end IT service provider specializing in cloud computing, data center management, and AI infrastructure. The company operates within the IT infrastructure sector, providing scalable solutions for government, BFSI, and various enterprise clients.
Price Band
₹408 - ₹429
Lot Size
34 Shares
Issue Size
₹720.00 Cr
Fresh Issue
₹720.00 Cr
OFS
N/A
0 BULLISH
AI Sentiment Score
Listing Price
₹757.00
vs Issue: ₹429 (+76.46%)
📅 IPO Timeline
Open
Aug 28
Close
Sep 1
Allotment
Sep 2
Refund
Sep 3
Demat
Sep 3
Listing
Sep 4
✨ AI Analysis & Prediction
+32.5% predicted listing gain
The listing gain is adjusted upward from the 56.1% GMP baseline due to exceptional QIB demand (274.97x) and a high-quality financial profile (ROE 25.12%, low debt). The 100% fresh issue structure further boosts sentiment as no promoters are offloading shares, signaling strong confidence in future growth.

💪 Strengths

  • Exceptional profit growth from ₹13.61Cr to ₹120.82Cr in 3 years
  • Very low Debt-to-Equity ratio (0.08)
  • Proprietary AI-powered SWARAJ Cloud platform

⚠️ Weaknesses

  • Heavy capital expenditure requirements for data center infrastructure

🚀 Opportunities

  • Increasing demand for data sovereignty and localized cloud services in India
  • Expansion of AI infrastructure solutions for BFSI and Government sectors

🛡️ Threats

  • Intense competition from global cloud providers
  • Rapid technological obsolescence in the IT infrastructure space
🎯 Objectives of the IPO
Requirement / Purpose Amount (₹ Cr)
Purchase and installation of cloud computing and other equipment and infrastructure for Data Centres. ₹576.00
General Corporate Purpose ₹144.00
🏢 About ESDS Software
Company Overview & Business Profile

Founded in August 2005, ESDS Software Solution has evolved over two decades into a comprehensive AI-enabled IT service provider. The company has established a robust footprint in building and managing critical IT infrastructure, transitioning from traditional managed services to sophisticated cloud and AI-driven solutions.

The company's core business model revolves around providing data center, cloud, colocation, and managed services. A standout feature of its portfolio is the SWARAJ Cloud, an AI-powered cloud platform specifically designed to ensure data sovereignty, security, and compliance while maintaining high scalability for its users.

ESDS serves a diverse range of high-stakes sectors, including Banking, Financial Services and Insurance (BFSI), government institutions, healthcare, retail, energy, and logistics. By offering Disaster Recovery as a Service (DRaaS) and Backup as a Service, the company positions itself as a critical utility for enterprise data resilience.

Operationally, ESDS maintains a significant physical presence with five Tier-III data centers located across Nashik, Navi Mumbai, Bengaluru, Mohali, and Noida, spanning over 75,266 square feet. This distributed infrastructure allows them to provide low-latency services across multiple Indian geographies.

The company is led by promoters Piyush Prakashchandra Somani, Komal Piyush Somani, and the P.O. Somani Family Trust. Their leadership has steered the company from a regional player to a mainboard-ready entity with an aggressive focus on AI infrastructure.

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📈 About ESDS Software IPO
Issue Structure, View & Risks

The ESDS Software Solution IPO is a mainboard issue aimed at raising approximately ₹720 crore, consisting entirely of a fresh issue with no Offer for Sale (OFS). The price band is set between ₹408 and ₹429 per share, with a minimum retail lot size of 34 shares. The issue opened on August 28, 2026, and closed on September 1, 2026, with listing on the BSE and NSE on September 4, 2026.

The proceeds from the fresh issue are strategically earmarked for growth, with ₹576 crore dedicated to the purchase and installation of cloud computing equipment and other infrastructure for its data centers, while the remainder is for general corporate purposes.

Financial performance has shown an aggressive upward trajectory. Revenue grew from ₹292.14 crore in 2024 to ₹480.65 crore in 2026. More impressively, the Profit After Tax (PAT) surged from ₹13.61 crore in 2024 to ₹55.61 crore in 2025, and reached ₹120.82 crore in 2026, reflecting significant operational leverage.

From a valuation perspective, the company demonstrates strong efficiency with an ROE of 25.12% and ROCE of 32.78%. With an EPS of ₹12.03 for FY26 and a very low debt-to-equity ratio of 0.08, the balance sheet is exceptionally lean. While a direct P/E comparison is limited, the growth rate of profits suggests a premium valuation is justified.

Key strengths include the proprietary SWARAJ Cloud platform and the absence of promoter offloading, which typically views as a positive signal to investors. However, risks include the high capital expenditure required to maintain Tier-III data centers and intense competition from global cloud hyperscalers.

Overall, for investors, the IPO presents a blend of high growth and financial stability. The combination of massive institutional interest and 100% fresh capital infusion suggests a bullish outlook for the listing day.

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📊 Financial Overview
Metric FY24 FY25 FY26
Revenue (₹ Cr) Rs 287.00 Cr Rs 361.00 Cr Rs 472.00 Cr
Net Profit / PAT (₹ Cr) Rs 14.00 Cr Rs 56.00 Cr Rs 121.00 Cr
EBITDA / Op. Profit (₹ Cr) Rs 101.00 Cr Rs 155.00 Cr Rs 234.00 Cr
Borrowings (₹ Cr) Rs 259.00 Cr Rs 127.00 Cr Rs 96.00 Cr
Total Assets (₹ Cr) Rs 548.00 Cr Rs 656.00 Cr Rs 1,938.00 Cr
ROCE % 12.00% 21.00% 30.00%
Debt/Equity
0.08
📋 Live Subscription Status
QIB
274.97x
NII
169.43x
Retail
41.68x
Total
142.88x
Updated: Sep 4, 2026 5:00 PM
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
Promoter Holding (Pre-Issue)
46.06%
Promoter Holding (Post-Issue)
39.47%
Anchor Investors Allocation
₹216.00 Cr
Anchor Lock-In Deadlines
  • 50% Shares (30 Days) Oct 2, 2026
  • 50% Shares (90 Days) Dec 1, 2026
🔗 Important Links & Lead Managers
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
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