ESDS Software Solution IPO- Complete Overview
ESDS Software Solution IPO is a Mainboard IPO with an issue size of Rs. 720 Cr by ESDS Software Solution Limited, which is an Indian provider of cloud, managed services, data center infrastructure, and software solutions with AI capabilities.
The company serves clients in the BFSI, government, and enterprise sectors with an end-to-end portfolio that includes Infrastructure-as-a-Service (IaaS), managed services, and Software-as-a-Service (SaaS).
The company's IaaS portfolio includes colocation and data center services, public, private, virtual private, hybrid, and community cloud solutions, and GPU-as-a-Service (GPUaaS).
With redundant power, disaster recovery infrastructure, and round-the-clock services, it runs five Tier 3 Data Centers totaling more than 75,266 square feet throughout India. Cloud and data center management, cybersecurity, network and IT infrastructure management, backup and disaster recovery, database management, and DevOps services are among its managed services.
This new IPO is to be launched on 28 Aug 2026, and its ‘initial public offering’ will end on 01 Sep 2026.
ESDS Software Solution IPO Details
This Mainline IPO comprises a wholly fresh issue of 1.68 crore shares. The ESDS Software Solution IPO listing date (expected) might be Friday, Sep 04, 2026, and the listing on the BSE and NSE.
The ESDS Software Solution IPO price band is Rs. 408 to Rs. 429.
IPO Timetable (Tentative)
The ESDS Software Solution IPO date is from 28 Aug to 01 Sep, with IPO allotment on Sep 02, refund initiation on Sep 03, and listing on Sep 04, 2026.
|
Events |
Date |
|
IPO Opening Date |
Aug 28, 2026 |
|
IPO Closing Date |
Sep 01, 2026 |
|
IPO Allotment Date |
Sep 02, 2026 |
|
Refund Initiation |
Sep 03, 2026 |
|
IPO Listing Date |
Sep 04, 2026 |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview & Outlook
The Data Centre market in India is valued at INR 114 billion for FY 2026 and has grown at a CAGR of 20.39% from FY 2020 to FY 2025. The market in the future is expected to grow at a CAGR of 20.70% from INR 114 billion in FY 2026 to INR 242 billion in FY 2030.
ESDS Software Solution Company Financial Performance
ESDS Software Solution- Profit & Loss
(Amount in Cr)
ESDS Software Solution- Balance Sheet
(Amount in Cr)
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
|
Net Cash Flow In Multiple Activities |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
13,677.13 |
1,626.23 |
530.48 |
|
Net Cash Flow Investing Activities |
(1,311.71) |
(1,093.44) |
(14.46) |
|
Net Cash Flow Financing Activities |
(447.16) |
74.50 |
(664.11) |
ESDS Software Solution IPO- Business Model
The company follows an asset-light model (primarily owns computing hardware) combined with vertical auto-scaling for rapid, efficient scaling. ESDS earns money by providing cloud infrastructure, managed IT services, and software solutions to customers on a subscription, pay-per-use, pay-per-consumption, and long-term contract basis.
Key points:
-
The largest share comes from Enterprises and IaaS + Managed Services.
-
Revenue is mostly recurring through long-term contracts and usage-based billing.
|
Service Line |
Revenue (₹ million) |
% of Total Revenue |
|
IaaS (Infrastructure as a Service) |
2,071.97 |
43.88% |
|
– Cloud Services & Computing |
1,678.90 |
35.55% |
|
– Colocation & Data Centre Services |
393.07 |
8.33% |
|
Managed Services |
1,945.91 |
41.21% |
|
SaaS (Software as a Service) |
704.22 |
14.91% |
|
Total |
4,722.10 |
100% |
Revenue Bifurcation
(Source: RHP)
Installed capacity
ESDS operates five Tier-3 Data Centres in India (Nashik, Navi Mumbai/Airoli, Bengaluru, Mohali, and Noida), covering >75,266 sq ft in aggregate.
|
Particulars |
Fiscal 2026 |
Fiscal 2025 |
Fiscal 2024 |
|
Cloud Servers (TB) |
Installed: 1,270.16 Utilised: 851.41 (67.03%) |
Installed: 917.95 Utilised: 616.87 (67.20%) |
Installed: 838 Utilised: 575 (68.61%) |
|
Enterprise Storage (TB) |
Installed: 18,795.00 Utilised: 12,287.65 (65.38%) |
Installed: 13,126.87 Utilised: 8,385.65 (63.88%) |
Installed: 10,823 Utilised: 6,935 (64.07%) |
|
Archive Storage (TB) |
Installed: 19,631.23 Utilised: 8,944.00 (45.56%) |
Installed: 10,942.71 Utilised: 4,425.34 (40.44%) |
Installed: 8,488 Utilised: 4,584 (54.01%) |
Company Growth Trajectory
Revenue from operations grew from ₹2,865.18 million (Fiscal 2024) → ₹3,613.35 million (Fiscal 2025) → ₹4,722.10 million (Fiscal 2026), reflecting strong expansion driven by higher-value customers, managed services ramp-up, and AI/GPU focus.
Key metrics (Fiscal 2024 → 2025 → 2026):
Customers: 1,465 → 1,714 → 2,501 (CAGR ~30.7% from FY24–26).
The Objective of the Issue
-
Purchase and installation of cloud computing and other equipment and infrastructure for Data Centres. ~ Rs. 576 Cr.
-
General Corporate Purposes.
Peers of ESDS Software Solution
|
Name of the Company |
Face Value (₹ per share) |
EPS Basic (₹) |
P/E (x) |
|
E2E Networks Limited |
1 |
(0.78) |
- |
Evaluation of P/E Ratio
Considering the period ended on FY 2026 with an EPS of Rs. 12.03 from the last year, the resulting P/E ratio is 35.66x.
|
Metric |
Pre IPO |
Post IPO |
|
EPS (₹) |
12.03 |
10.31 |
|
P/E (x) |
35.66 |
41.61 |
ESDS Software Solution IPO Valuation
|
KPI |
Value (Mar 31, 2026) |
|
ROE |
25.12% |
|
ROCE |
32.78% |
|
Debt/Equity |
0.08 |
|
RoNW |
22.85% |
|
PAT Margin |
25.59% |
|
EBITDA Margin |
49.60% |
IPO's Strengths
-
Leading Position in Cloud, Managed Services and Data Centre Solutions.
-
Comprehensive Security-as-a-Service (SECaaS) Framework.
-
Long-term Relationships with Banks and Enterprises.
-
Strong Government Partnerships and Policy Advocacy.
IPO's Weaknesses
-
The company's commercial and financial performance could suffer if it doesn't innovate or adjust to changing industry norms or technology advancements.
-
Data loss, legal action, fines, penalties, and reputational harm could result from unauthorized access or security breaches involving the company's cloud platform and data.
-
The business depends on customers being able to access its services continuously and without interruption. Customers and the commercial and financial performance of the company could be negatively impacted by internet outages, data center disruptions, hardware or software malfunctions, security breaches, or other disturbances.
ESDS Software Solution IPO GMP Today
ESDS Software Solution IPO GMP is Rs. 293 as of August 25, 2026, at the time of writing. With the upper price band of Rs. 429, ESDS Software Solution IPO's estimated listing price is Rs. 722. The expected listing gain/loss per share is 68.30%.
IPO Other Details
|
IPO Opening & Closing Date |
28 Aug 2026 to 01 Sep 2026 |
|
Face Value |
Rs. 1 per Share |
|
Issue Price |
Rs. 408 to Rs. 429 |
|
Lot Size |
34 Shares |
|
Issue Size |
1,67,83,216 shares (Rs. 720 Cr) |
|
Offer for Sale |
- |
|
Fresh Issue |
1,67,83,216 shares (Rs. 720 Cr) |
|
Listing At |
BSE, NSE |
|
Issue Type |
Book Built Issue IPO |
|
Registrar |
MUFG Intime India Pvt. Ltd. |
IPO Grey Market Premium
The current IPO GMP is available at our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.
ESDS Software Solution IPO Lot Size
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (34 Shares) amounting to Rs. 14586 and 13 Lots (442 Shares) for Rs. 1,89,618, respectively, while for HNI investors, the minimum Lot is 14 (476 Shares) amounting to Rs. 2,04,204.
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
S-HNI (Minimum) |
14 Lots |
|
S-HNI (Maximum) |
68 Lots |
|
B-HNI (Minimum) |
69 Lots |
ESDS Software Solution IPO Reservation
|
Institutional Share Portion |
50% |
|
Retail Investors' Share Portion |
35% |
|
Non-Institutional Shares Portion |
15% |
Promoters and Management of ESDS Software Solution Ltd.
-
Piyush Prakashchandra Somani
-
Komal Piyush Somani
-
P.O.Somani Family Trust.
|
Pre-Issue Promoter Shareholding |
46.06% |
|
Post-Issue Promoter Shareholding |
39.47% |
IPO Lead Managers
- Dam Capital Advisors Ltd.
Dividend Policy
The company has not paid a dividend during the last three FYs.
IPO Review: Subscribe or Avoid?
ESDS Software Solution Limited reported revenue growth along with PAT increasing from ₹136.09 million in FY24 to ₹1,208.23 million in FY26, while EBITDA increased from ₹1,018.81 million to ₹2,342.34 million during the same period.
The company’s customer base grew from 1,465 in FY24 to 2,501 in FY26, with data centre capacity expanding from 4 to 5 centres. Risks related to competition, industry dynamics and execution, etc.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
ESDS Software Solution IPO News
ESDS Software Solution IPO Allotment Status
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Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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