by Suman Gupta
• Price band of Rs 408 – Rs 429 per Equity Share bearing face value of Rs 1 each (“Equity Shares”)
• Bid/Issue Opening Date – 28 August 2026 and Bid/Issue Closing Date – 1 September 2026
• Minimum Bid Lot is 34 Equity Shares and in multiples of 34 Equity Shares thereafter
Mumbai, 25th August, 2026: ESDS Software Solution Limited (the “Company”) has fixed the price band of Rs 408 /- to Rs 429 /- per Equity Share of face value Rs 1/- each for its initial public offer.
The Initial Public Offering (“IPO” or “Issue”) of the Company will open on 28 August, 2026 for subscription and close on 1 September 2026.
Investors can bid for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter.
Equity shares outstanding pre-Issue 100,427,753 equity shares of Rs 1 each.
The IPO is a fresh issue of up to Rs7,200.00 million.
Incorporated in 2005, the company is an AI-enabled cloud, managed services, data centre infrastructure and software solutions provider in India. It is one of the only two players in India providing the entire spectrum of GPUaaS, cloud, managed services, data centre infrastructure and software solutions in India (source: Nexdigm Report, page 66). Further, among the two, it is the largest in terms of revenue from operations in Fiscal 2026 (source: Nexdigm Report, page 77), with revenue from operations of ₹4,722.10 million in Fiscal 2026.
The Company offers a comprehensive platform of cloud infrastructure and software solutions consisting of (i) infrastructure as a service (IaaS), which is broadly divided into colocation and data centre services, cloud services and cloud computing, (ii) managed services and (iii) software as a service (SaaS), which allows it to provide well architected cloud-adoption solutions to its customers aimed at reducing their cost while providing security, flexibility, scalability and reliability.
It was one of the first cloud service providers in India to offer community cloud services, provided on multi-tenant model to a group of organizations that have similar business models and requirements, such as data privacy, security, compliances and regulatory considerations (source :Nexdigm Report, page 30).
The Company provides its services to a diverse range of end-user industries and customers, comprising (i) banking, financial services and insurance companies, (ii) public sector entities, including central, state, and local government departments, public sector undertakings, government agencies, and institutions that procure products or services for administrative, infrastructure, or public service purposes and (iii) businesses and enterprises. The company served 2,501 customers in Fiscal 2026.
On March 31, 2026, the Company entered into a strategic AI cloud infrastructure agreement with an Australia-based neocloud AI compute service provider. The agreement is for an initial term of five years, with an option to extend for a further two years, aggregating to a total contract value of approximately US $ 1,250 million (equivalent to ₹118,312.50 million at an exchange rate of USD 1 = ₹94.65, which was the exchange rate as of March 31, 2026 (source: www.rbi.org.in)).
Pursuant to this agreement, the AI company is required to deploy and operate a dedicated AI infrastructure cluster within an existing data centre facility in Australia. This cluster will comprise approximately 8,208 NVIDIA B300 GPUs along with associated storage infrastructure. Delivery of such infrastructure is targeted for completion by September 2026, and revenue generation under the agreement is expected to commence in the third quarter of Fiscal 2027.
The agreement provides for service fees payable on a monthly basis. This partnership is aimed at strengthening the Company’s access to dedicated, high-performance AI compute capacity to support its cloud and managed services offerings.
The Company was recognized as the “Most Preferred and Trusted Cloud Service Provider” by Economic Times Achievers (Karnataka) and awarded the Aegis Graham Bell Award in the category of “Combat Covid 19 with Artificial Intelligence” in 2022.
The Company’s revenue from operations was Rs 4,722.10 million for Fiscal 2026 as compared to Rs 2,865.18 million for Fiscal 2024
The Company’s net profit was Rs 1,208.23 million for Fiscal 2026 as against Rs 136.09 million for Fiscal 2024.
DAM Capital Advisors Limited, and Systematix Corporate Services Limited are the book-running lead managers, for the Issue. MUFG Intime India Private Limited is the registrar of the Issu
The Equity Shares are proposed to be listed on NSE and BSE.
ESDS Software Solution Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated 24 August 2026 (the “RHP”) with the RoCThe RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM, www.damcapital.in, and https://www.systematixgroup.in/ the website of the NSE at www.nseindia.com and the website of the BSE at www.bseindia.com and the website of the Company at www.esds.co.in. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 23 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. However, the securities described in this announcement are not being offered or sold in the United States.
