ESDS Software locked in ₹216 crore from anchor investors, with domestic mutual funds driving 82% of the book. That's a significant show of institutional confidence for a Nashik-based player making its second IPO attempt. The funds will help scale its data center infrastructure across Airoli, Bengaluru, and Mohali.
How We Got Here
ESDS first tried to go public in September 2021 but pulled the issue, re-filing its papers in March 2025. Its ₹720 crore IPO is entirely a fresh issue of shares, valuing the company at ₹5,028 crore at the upper end of its price band.
The Numbers
- ESDS allotted 50.35 Lakh shares at ₹429 apiece, the upper end of its ₹408-₹429 price band.
- Anchor investors included Motilal Oswal, Bandhan, Quant, ITI, and JM Financial from the domestic mutual fund contingent.
- The company operates five data centers across Navi Mumbai, Nashik, Bengaluru, Mohali, and Noida.
- ESDS reported a consolidated net profit of ₹120.8 crore in FY26.
- The company plans to deploy ₹576 crore from the net proceeds into purchasing and installing cloud computing equipment.
What Happens Next
🇮🇳 Why This Matters for India
For founders building SaaS products reliant on Indian cloud infrastructure, ESDS’s expansion into cities like Nashik and Mohali offers alternative data center choices beyond the traditionally saturated big metros.
The Take
This strong anchor book signals investors are warming to infrastructure plays beyond pure SaaS, especially those with real assets and a clear expansion roadmap. Expect more niche, infra-heavy tech companies to test IPO waters within the next 12 months.
Source:
Inc42 ↗