Enterprise cloud and AI company ESDS Software Solution’s initial public offering (IPO) was subscribed 42.72 times by 12:33 IST on the third and final day of bidding. Investors placed bids for 52.77 crore shares against the 1.24 crore shares on offer, according to BSE data. The ₹720 crore IPO is priced in the range of ₹408 to ₹429 per share, with shares expected to list on the BSE and NSE on September 4, inc42.com reported.
The non-institutional investor (NII) category led the demand, placing bids for 33.27 crore shares against the 26.47 lakh shares reserved for them, resulting in a subscription of 125.68 times. Within NIIs, investors bidding more than ₹10 lakh subscribed 131.63 times, while those bidding between ₹2 lakh and ₹10 lakh subscribed 113.77 times. Retail investors placed bids for 17.54 crore shares against 61.76 lakh shares reserved, achieving a subscription of 28.4 times. Qualified institutional buyers (QIBs) also increased participation sharply on the final day, with bids for 1.96 crore shares against 35.29 lakh shares available, a subscription of 5.54 times.
The strong subscription reflects growing investor interest in enterprise cloud and AI sectors. ESDS’s IPO subscription outpaced many recent tech listings, with the NII portion booked at 126 times and retail at 28.4 times. The surge in QIB bids from 0.25 times on day two to 5.54 times on day three underscores institutional confidence. The ₹720 crore fresh issue aims to capitalize on the expanding cloud services market, positioning ESDS among notable tech IPOs in the current funding cycle.
ESDS’s shares are set to debut on the BSE and NSE on September 4, marking a key milestone for the company’s public market entry. The IPO’s strong subscription across investor categories indicates robust demand ahead of listing, setting a benchmark for upcoming enterprise cloud and AI sector offerings.