ESDS Software Solution, an Indian technology company providing cloud computing, data center infrastructure, and managed IT services, has launched its initial public offering (IPO) and is still attracting investors two days into bidding.
ESDS launched its IPO on August 28, 2026 and the overall issue was subscribed over two times the initial offering of 12.3 million shares. According to The Economic Times, demand was strongest from retail investors with an oversubscription of 2.69 times. The subscription period will remain open until September 1, 2026 with allotment expected to be finalized the next day, and listing on the NSE and BSE is planned for September 4, 2026.
The IPO is a fresh issue of equity shares valued at a combined ₹ 7.2 billion (US$ 75.6 million). With those funds, ESDS has signalled that it will allocate ₹ 5.7 billion (US$ 59 million) for the purchase and installation of cloud computing and other equipment and infrastructure for its data centers. The remainder of the funds will be used for general purposes.
ESDS has fixed the price band at between ₹ 408 and 429 (US$ 4.29 and 4.51) per share with investors required to bid for a minimum of 34 equity shares and multiples of 34 shares.
According to data from NSE, the ESDS IPO is currently 16.6 times oversubscribed with over 205 million bids against over 12 million shares. While retail investors were behind Friday’s oversubscription, as of August 31, 2026, non-institutional investors are now leading the charge. Within that segment, non-institutional investors who have bid more than ₹ 10 lakh (US$ 10,516) are oversubscribed by over 50 times the allocation. The qualified institutional investors segment meanwhile is undersubscribed with foreign institutional investors representing the largest portion of bids.
ESDS operates five data centers across India with two more in development in Kolkata and Ghaziabad.