ESDS Software shares hit 20% upper circuit for 3rd day in row; stock up 201% from IPO price

ESDS Software Solutions hit its 20 per cent upper circuit limit on Tuesday, taking the stock's gain to 200 per cent over its IPO issue price of Rs 429 apiece. The AI-enabled data centre infrastructure player had sold its shares in the price band of Rs 408-429 apiece and raised Rs 720 crore through its initial public offering (IPO).

The ESDS Software stock was locked at its upper circuit limit at Rs 1,289.55 on BSE. This was against its previous closing price of Rs 1,074.65. At the day's high, the stock had gained 200.59 per cent over its IPO issue price.

ESDS Software Solutions had made a strong debut in the stock market on Friday, with its shares listed at Rs 757 on NSE, a premium of 76.46 per cent over the issue price of Rs 429. On the BSE, the stock was listed at Rs 746.30, marking a premium of 73.95 per cent over the issue price.

IPO details

The issue ran between August 28 and September 1 and raised Rs 720 crore. It was subscribed 135.88 times overall, fetching more than 63.01 lakh applications and bids worth around Rs 72,000 crore.

The portion reserved for qualified institutional bidders was subscribed 261.51 times, while the portion for non-institutional investors was subscribed 192.95 times. The retail portion was subscribed 39.64 times during the three-day subscription period.

About ESDS Software Solutions

Incorporated in August 2005, Nashik-based ESDS Software Solutions is an AI-enabled provider of cloud, managed services, data centre infrastructure and software solutions in India. The company offers an end-to-end portfolio comprising Infrastructure-as-a-Service, managed services and Software-as-a-Service, serving customers across BFSI, government and enterprise segments.

ESDS Software Solutions share price

The stock opened at Rs 1,187.95 on Tuesday against its previous close of Rs 1,074.65. It hit a high of Rs 1,289.55, up 20 per cent and marking its upper circuit, before being last quoted at Rs 1,258.70, up 17.13 per cent. The stock has hit a high of Rs 1,289.55 and a low of Rs 746.30 so far.