ESDS Software Solution shares surge 200% in three sessions; stock triples from IPO price

ESDS Software Solution shares continued their sharp post-listing rally on Tuesday, September 8, hitting the 20% upper circuit for the third straight trading session. The stock has now surged around 201% from its IPO price of ₹429, effectively tripling the money of investors who received shares in the public issue.

The stock opened at ₹1,187.95 on the NSE against its previous close of ₹1,074.65 and climbed to ₹1,289.55, its upper circuit for the day. At this level, the shares have gained 201% over the IPO price.

The latest jump follows a 20% gain on Monday, when the stock had also hit its upper circuit. The shares had already risen around 155% above the issue price by the end of Monday's session.

ESDS Software Solution IPO and listing

ESDS Software Solution made its stock market debut on Friday, September 4, with a strong premium over its IPO price of ₹429.

The shares listed at ₹757 on the NSE, a 76.46% premium to the issue price. On the BSE, the stock opened at ₹746.30, translating into a 73.96% premium.

The rally accelerated after listing, with the stock hitting an upper circuit of ₹908.40 on the NSE and ₹895.55 on the BSE on the first day. At those levels, the stock had gained nearly 112% over the IPO price.

The sharp rise also pushed ESDS Software Solution's market capitalisation above ₹10,600 crore on the NSE on its debut day.

The strong market debut followed heavy demand for the company's ₹720 crore IPO. The book-built issue was entirely a fresh issue of shares and was open for subscription from August 28 to September 1. The price band was fixed at ₹408-₹429 per share.

The issue was subscribed 135.88 times by the end of the bidding period. Before the IPO opened, the company had raised ₹216 crore from anchor investors.

For retail investors, the minimum lot comprised 34 shares, requiring an investment of ₹14,586 at the upper end of the price band.

ESDS Software Solution plans to use ₹576 crore of the IPO proceeds to purchase and install cloud computing equipment and other infrastructure for its data centres. The remaining funds are earmarked for general corporate purposes.

ESDS Software Solution financials

ESDS Software Solution is an AI-enabled provider of cloud, managed services, data centre infrastructure and software solutions. The Nashik-based company serves banks, government organisations and enterprises in India.

The company's financial performance has also improved sharply over the past three years. Revenue from operations increased to ₹472.21 crore in FY26 from ₹361.34 crore in FY25 and ₹286.52 crore in FY24.

Profit attributable to owners rose even faster, reaching ₹120.28 crore in FY26 compared with ₹55.61 crore in FY25 and ₹12.57 crore in FY24.

The company's profit has therefore increased nearly tenfold over the two-year period, while revenue has also continued to grow.

With Tuesday's upper-circuit move, ESDS Software Solution has now delivered three consecutive sessions of gains since its listing. From the ₹429 IPO price to ₹1,289.55, the stock has added ₹860.55 per share in just three trading sessions.

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