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ESDS Software Solution IPO to open Aug. 28, priced at ₹408–₹429
The issue is a ₹720 crore offering, with the grey market premium at +₹325 and an indicated estimated listing price of ₹754, about 75.8% above the top of the IPO band.
ESDS Software Solution’s initial public offering is set to begin on Aug. 28 and close on Sept. 1, after the company fixed its share price band at ₹408 to ₹429, according to LiveMint Markets. The IPO comprises a ₹720 crore public offering and the grey market premium is currently at +₹325.
Based on the upper end of the price band and the prevailing grey market premium, the estimated listing price was indicated at ₹754 per share, implying a 75.8% premium versus the IPO top price of ₹429. LiveMint Markets also cited that the GMP has fluctuated between ₹275 and ₹365 over the past four sessions.
The report said the public subscription will open at 10:00 IST on Aug. 28. Kantilal Chhaganlal Securities recommended subscribing for the long term, pointing to a strong growth outlook tied to a large AI contract, while also flagging risks including customer concentration, competition, and technology obsolescence.
Other brokerages cited positives such as margin and profit growth and improved fundamentals, including nearly nine-fold growth in PAT over the past two years and expansion in PAT margin from 4.75% to 25.59%. Swastika Investmart also noted a 94.92% revenue retention rate, while describing the company as a full-stack cloud, data centre, and SaaS player, the outlet said.