The initial public offering (IPO) of ESDS Software Solution is set to make its stock market debut on Friday, Sept. 4. Ahead of its listing on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), grey market premium (GMP) trends indicate a potentially strong listing gain of around 57%.
ESDS Software Solution IPO Expected Listing Price
The latest Grey Market Premium (GMP) for ESDS Software Solution IPO stood at Rs 244 as of 9:00 a.m. on Sept. 4. With the upper price band of Rs 429, the estimated listing price of the IPO is Rs 673 (cap price + today's GMP). This implies a strong potential listing premium of 56.88% over the issue price.
Note: GMP is entirely unofficial, based on speculative unlisted market demand, and does not guarantee the actual listing price.
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ESDS Software Solution IPO Final Subscription Status
The IPO of ESDS Software Solution was subscribed 135.88 times on Sept. 1, on the third and final day of bidding.
- QIBs: 261.51 times
- NIIs: 192.94 times
- RIIs: 39.64 times
The share allotment of ESDS Software Solution IPO was finalised on Sept. 2.
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ESDS Software Solution IPO Listing Date
Shares of ESDS Software Solution will list on NSE and BSE on Friday, Sept. 4.
ESDS Software Solution IPO Details
The ESDS Software Solution IPO is entirely a fresh issue of 1.68 crore shares of Rs 720 crore.
The final issue price for the IPO was set at Rs 429 per share. Retail investors were required to bid for a minimum lot size of 34 shares, translating to a minimum investment of Rs 14,586 at the upper end of the price band.
Dam Capital Advisors Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. is the registrar of the issue.
ESDS Software Solution IPO: Use Of Proceeds
The company plans to use the net proceeds for the purchase and installation of cloud computing and other equipment and infrastructure for data centres (Rs 576 crore).
The remaining amount will be used for general corporate purposes (Rs 91.05 crore) and issue expenses (Rs 52.95 crore).
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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