Cloud and data centre company ESDS Software Solution secured ₹216 crore from anchor investors ahead of its initial public offering (IPO) scheduled to open on August 28. The Nashik-based firm allotted 50.3 lakh equity shares at ₹429 each, the upper end of its ₹408-₹429 price band, according to its filings with the BSE.
The anchor round saw participation from 19 entities, including six domestic mutual funds that acquired 41.26 lakh shares worth nearly ₹177 crore, representing 81.94% of the total anchor allocation. Notable investors included Motilal Oswal, Bandhan Mutual Fund, Quant Mutual Fund, ITI Mutual Fund, and JM Flexicap Fund. Other participants were Bajaj General Insurance, Sanshi Fund-I, Meru Investment Fund, Cognizant Capital Dynamic Opportunities Fund, and CP Capital.
ESDS Software’s IPO comprises an entirely fresh issue of shares worth up to ₹720 crore, with no offer-for-sale component. At the upper price band, the company is targeting a valuation of about ₹5,028 crore (approximately $526 million). The funds raised will primarily be used to purchase and install cloud computing equipment and infrastructure across its data centres in Airoli, Bengaluru, Mohali, and Nashik, supporting its expansion in the cloud and data centre market.
The IPO subscription window will close on September 1, with shares expected to list on the BSE and NSE on September 4. The company’s filings confirm the allotment details and anchor investor participation ahead of the public subscription phase.