IPO · Enterprise Software & IT

ESDS Software Solutions launches ₹720 crore initial public offering

By Startup Enthusiast · 28 August 2026

What they do

The company provides AI-enabled cloud infrastructure, managed services, and data centre solutions to over 2,500 customers across various sectors

The IPO consists of a fresh issue of ₹720 crore, with proceeds primarily allocated for data centre infrastructure and equipment

The company secured ₹216 crore from anchor investors and saw its issue fully subscribed on the first day of bidding

ESDS Software Solutions opened its initial public offering (IPO) for public subscription on August 28, 2026.
The company set a price band of ₹408 to ₹429 per equity share for the public issue.
The total IPO size is ₹720 crore, consisting entirely of a fresh issue of equity shares.
The company successfully raised ₹215.99 crore from anchor investors prior to the public opening.
Proceeds of ₹576 crore from the fresh issue will fund the purchase and installation of cloud computing equipment for data centres.
The IPO is scheduled to close for subscription on September 1, 2026, with shares expected to list on September 4, 2026.

The Indian data centre market is projected to grow at a CAGR of ~20.7% between fiscal 2026 and 2030.
Demand is driven by increasing cloud adoption, AI workloads, and data localisation requirements in India.
The company reported a strong revenue CAGR of 28.4% between fiscal 2024 and 2026.

ESDS provides an integrated platform of cloud infrastructure, managed services, and software solutions.
Its offerings include Infrastructure as a Service (IaaS), colocation services, and Software as a Service (SaaS).
The company operates five Tier-3 data centres to support its cloud and managed services.
It serves over 2,500 customers, including entities in the banking, financial services, and public sectors.
The company utilizes its patented SWARAJ Cloud platform to deliver AI-enabled cloud services.
It is one of the few players in India providing a full spectrum of GPUaaS (Graphics Processing Unit as a Service) cloud solutions.

The company plans to use the majority of IPO proceeds to expand its data centre infrastructure.

Bajaj General Insurance (participated) — Participated via its Policyholder Fund.
Quant Mutual Fund (participated) — Invested through its QSIF Hybrid Long-Short Fund.