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ESDS IPO Oversubscribed 24x on Day 2
1 Sep
Summary
- ESDS Software IPO saw 24.49 times subscription on day two.
- Non-institutional investors portion subscribed 69.73 times.
- Company aims to use Rs 576 crore for data center infrastructure.
The Initial Public Offering (IPO) for ESDS Software Solution Ltd has garnered substantial attention, being subscribed 24.49 times by the second day of bidding. This indicates a strong investor appetite for the company's shares.
The IPO witnessed particularly robust demand from non-institutional investors, whose portion was subscribed an impressive 69.73 times. Retail investors also showed considerable interest, with their quota booked 18.68 times. Qualified Institutional Buyers saw their category booked at 72 percent.
ESDS Software, a provider of AI-enabled cloud and data centre solutions, successfully raised Rs 216 crore from anchor investors prior to the public issue. The company intends to allocate Rs 576 crore of the IPO funds towards the purchase and installation of cloud computing equipment and infrastructure for its data centres.
The public issue, which offers shares at a price band of Rs 408-429, is scheduled to close on September 1. The shares are slated for listing on the BSE and NSE on September 4. At the upper end of the price band, ESDS Software's market capitalization is estimated at approximately Rs 5,028 crore.
