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HomeIPOESDS Software Solution

About ESDS Software Solution

The Company was incorporated in the year 2005. ESDS Software is a leading player in the managed cloud service and the end-to-end multi-cloud requirements in India. It is a one-stop services provider to the customers for cloud adoption. The services provided by the company include - Cloud Computing - Infrastructure as a Service (IaaS), encompassing the company's patented vertically auto-scalable cloud technology platform, ‘eNlight Cloud’ Software as a Service (SaaS), and Managed Services. ESDS Software provides products in widely diversified industries like government ministries & companies, corporate entities in BFSI, manufacturing, IT & ITES, telecom, real estate, pharmaceuticals, retail, education, among others, in various countries in the APAC region, Europe, Middle East, Americas, and Africa. The company conducts its operations through 3 data centers in India, one each in Navi Mumbai, Nashik, and Bengaluru. The data centers have a total covered space of over 50,000 sq. feet and are inter-connected through a 10 Gbps backbone internet.

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Live IPOs

National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
Open  Close17th Sep 2026 - 21st Sep 2026
Issue Size22561.57 Cr
Min. Qty8 Shares
Issue Price₹ 1700.00
Live IPO
Antala Industries logo

Antala Industries

SME
Open  Close29th Oct 2026 - 5th Nov 2026
Issue Size22.98 Cr
Min. Qty2000 Shares
Issue Price₹ 62.00
Live IPO
Companies NameOpen - CloseIssue SizeMin. QtyIssue PriceApply
National Stock Exchange of India logo

National Stock Exchange of India

Mainboard
17th Sep 2026 - 21st Sep 202622561.57 Cr8 Shares₹ 1700.00
Antala Industries logo

Antala Industries

SME
29th Oct 2026 - 5th Nov 202622.98 Cr2000 Shares₹ 62.00
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ESDS Software Solution

ESDS Software Solution

Open Date

Aug 28, 2026

Close Date

Sep 1, 2026

listed

Min Investment

₹14,586

Lot Size

34 Shares

Issue Size

₹720 Cr

Price Range

₹408 - ₹408

Listing Date

Sep 4, 2026

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RHP PDF

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹247(+57.58%)GMP
57.58%Prediction Listing Gain

Grey Market Premium (GMP) Trend

ESDS Software Solution IPO - Issue Objectives

The company will spend ₹576 crore on cloud computing equipment and data-centre infrastructure. Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

Purchase and installation of cloud computing

80%

General corporate purposes

20%

1

Purchase and installation of cloud computing

The company will spend ₹576 crore on cloud computing equipment and data-centre infrastructure.

80.00%
2

General corporate purposes

Part of the IPO proceeds will be used for general corporate purposes and issue expenses.

20.00%

IPO Subscription Status

QIB
274.97x
NII
202.87x
Individual
41.68x
Total
142.88x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of ESDS Software Solution

In Cr.

Key Performance Indicator30-Sep-24 (In Cr.)31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)31-Mar-22 (In Cr.)
Revenue173.37292.14212.24198.68
EBITDA
Expenses
Profit After Tax23.9313.61-22.46-2.66
Assets601.78547.71500.70522.56
Net Worth229.93206.36195.34195.39
Reserves231.48207.98196.31189.70
Borrowing163.71149.04164.83133.48

ESDS Software Solution - Promoter(s)

Piyush Prakashchandra Somani

Komal Piyush Somani

P.O. Somani Family Trust

Pre Issue Share Holding

N/A

Post Issue Share Holding

N/A

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Full-stack, technology-led service portfolio

The company runs infrastructure as a service (IaaS), managed services and software as a service (SaaS) on one platform, backed by its patented SWARAJ Cloud auto-scaling technology and a fully managed GPUaaS offering it launched in November 2025.

02

Integrated, technology-driven Data Centre network

Five Tier 3 Data Centres in Nashik, Navi Mumbai, Bengaluru, Mohali and Noida cover more than 75,266 sq. ft. and are linked by multi-Gbps fibre-optic backbones, with guaranteed uptime of at least 99.95%. This supports reliable services and efficient operations.

03

Strong relationships across different companies

Revenue retention stood at 94.9% in FY26, showing that the company is able to retain most of its existing customers. The customer base itself grew from 1,465 to 2,501 between FY24 and FY26, a CAGR of 30.66%.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Customer concentration

The largest customer contributed 15.9% of FY26 revenue, while the top 10 customers contributed 45.3%. Loss or reduction of business from key customers could therefore have a material impact on revenue and cash flows.

02

Technology obsolescence

Technology is changing quickly, which could make the company’s existing cloud, power and cooling systems outdated. At the same time, R&D spending fell from 4.42% of revenue in FY24 to 1.32% in FY26, raising concerns about its ability to keep up with new technology.

03

Contact Details

ESDS Software Solution

Plot No. B-24 & 25, NICE Area, MIDC, Satpur, Nashik – 422007, Maharashtra, India Nashik, Maharashtra, 422007

+912537112244
secretarial@esds.co.in
https://www.esds.co.in/

Registrar Contact Details

MUFG Intime India Pvt.Ltd.

+91-22-4918 6270
esdssoftware.ipo@in.mpms.mufg.com
https://in.mpms.mufg.com/Initial_Offer/public-issues.html

ESDS Software Solution IPO - FAQs

ESDS Software Solution IPO is a Mainboard IPO. The issue is priced at 408-₹429. The minimum order quantity is 34 Shares. The IPO opens on 28 Aug, and closes on 1 Sep. MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2026-08-27
  • Bidding Starts2026-08-28
  • Bidding Ends2026-09-01
  • Allotment Finalisation2026-09-02
  • Release of Funds2026-09-03
  • Demat Transfer2026-09-03
  • Listing2026-09-04
04

Reach across customer segments and geography

The company serves a diverse customer base, including 104 government clients, 115 banks and financial institutions with 1,045 branches, 113 SAP HANA community cloud organisations and six smart cities, reducing dependence on any single customer segment.

Dependence on government revenue

Government entities and projects contributed 27.37% of FY26 revenue from operations, down from 34.04% in FY24. A change in government policy, budgets or contracts could still hit this revenue.

04

Receivables and working capital pressure

Customers get credit terms of 30 to 140 days, and DSO was 79 days in FY26. The loss allowance on trade receivables went up from ₹23.21 crore in March 2024 to ₹34.59 crore in March 2026.

05

Data centre and supplier concentration

Three of the five data centres in Bengaluru, Mohali and Noida operate under agreements with STPI, where the company pays the higher of a fixed minimum charge or 18% of data centre revenue. If these agreements are not renewed, the company may have to relocate these data centres. Also, the top 10 suppliers accounted for 52.28% of other expenses and additions to property, plant and equipment in FY26, showing high dependence on a few suppliers.