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ESDS Software shares surge 290% above IPO price, boosting early stakes
Early investors Ashish Kacholia and Mukul Agrawal saw their pre-IPO holdings rise to hundreds of crores, with Kacholia’s stake valued at ₹433 crore versus ₹103 crore at the IPO upper band.
ESDS Software Solution shares have surged since listing on Dalal Street earlier this month, with the stock trading about 290% above its IPO price, according to LiveMint Markets. The move has significantly increased the value of stakes held by early backers, including veteran investors Ashish Kacholia and Mukul Agrawal.
Kacholia currently holds a 2.05% stake in the company, with Trendlyne shareholding data cited in the report. The outlet said Kacholia invested in October 2024, nearly two years before the public issue, and that at the IPO upper price band of ₹429 his stake was worth ₹103 crore, rising to ₹433 crore with the stock at ₹1,672.50.
The report also said Mukul Agrawal holds a 6% stake and has benefited from a similar jump in value. It added that Agrawal’s pre-IPO shareholding of 70.3 lakh shares has also seen a massive increase since the listing.