ESDS Software Solution IPO opens on August 28: Check price band, issue size and other key detials

Maharashtra-based enterprise cloud and AI ecosystem provider ESDS Software Solution will open its Rs 720-crore initial public offering for subscription on August 28. The issue, backed by investors including Ashish Kacholia and Mukul Agrawal, will close on September 1. The price band has been fixed at Rs 408-429 per share, valuing the company at Rs 5,028.3 crore.

The IPO is entirely a fresh issue, which means the full proceeds will go to the company. The one-day anchor book will open on August 27. Share allotment is likely to be finalised by September 2, and the company is expected to list on the bourses on September 4.

The offer size has been increased from the earlier planned Rs 600 crore, according to the draft red herring prospectus filed by the Nashik-based cloud infrastructure and software solutions provider in March 2025. SEBI approved the draft papers in December 2025. Investors can apply for a minimum of 34 equity shares and in multiples of 34 thereafter.

ESDS Software Solution says it is one of only two players in India offering the full spectrum of GPUaaS, cloud, managed services, data centre infrastructure and software solutions. It currently has data centres in Airoli, Bengaluru, Nashik, Noida and Mohali, and is also setting up proposed data centres in Kolkata and Sahibabad.

At the upper end of the price band, the minimum investment for retail investors will be Rs 14,586, while the maximum investment will be Rs 1,89,618. Out of the net IPO proceeds, the company plans to use Rs 576 crore for the purchase and installation of cloud computing and other equipment and infrastructure for the relevant data centres in FY27 and FY28.

The remaining amount will be used for general corporate purposes. In March 2026, ESDS Software also entered into a strategic AI cloud infrastructure agreement with an Australia-based neocloud AI compute service provider. The agreement has an initial term of five years, extendable by two more years, with an aggregate contract value of US$1,250 million. Revenue from this agreement is expected to begin in the third quarter of fiscal 2027.

Promoters, including Piyush Prakashchandra Somani and others, hold 46.06 per cent in the company, while public shareholders own 52.65 per cent. Among them, Mukul Mahavir Agrawal holds 6.99 per cent, Ashish Kacholia 2.39 per cent and Anchorage Capital Fund 1.32 per cent.

For the year ended March 2026, profit more than doubled to Rs 120.8 crore from Rs 55.6 crore a year earlier, while revenue rose 30.7 per cent to Rs 472.2 crore from Rs 361.3 crore. DAM Capital Advisors and Systematix Corporate Services are the book-running lead managers for the issue.